Search results
Results From The WOW.Com Content Network
Shipping markets. The international shipping industry can be divided into four closely related shipping markets, each trading in a different commodity: the freight market, the sale and purchase market, the newbuilding market and the demolition market. These four markets are linked by cash flow and push the market traders in the direction they want.
The Merchant Marine Act of 1920 is a United States federal statute that provides for the promotion and maintenance of the American merchant marine. [ 1] Among other purposes, the law regulates maritime commerce in U.S. waters and between U.S. ports. Section 27 of the Merchant Marine Act is known as the Jones Act and deals with cabotage ...
The sale and purchase of ship is an important aspect of the shipping industry. It may involve large amounts of money and requires brokers to possess knowledge of types of vessels and their function, knowledge of maritime law, as well experience in bargaining. To reduce the number of disputes and smoothen the sale and purchase procedure ...
Under the reorganization plan, the shipping laws of the U.S. were separated into two categories, regulatory and promotional. The newly created FMC was charged with the administration of the regulatory provisions of the shipping laws, while the promotional role was vested in the Maritime Administration (now part of the U.S. Department of ...
Government procurement or public procurement is when a governing body purchases goods, works, and services from an organization for themselves or the taxpayers. [ 1][ 2][ 3] In 2019, public procurement accounted for approximately 12% of GDP in OECD countries. [ 4][ 5] In 2021 the World Bank Group estimated that public procurement made up about ...
Federal Acquisition Regulation. The Federal Acquisition Regulation ( FAR) is the principal set of rules regarding Government procurement in the United States, [ 1] and is codified at Chapter 1 of Title 48 of the Code of Federal Regulations, 48 CFR 1. It covers many of the contracts issued by the US military and NASA, as well as US civilian ...
The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. [1] The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. It also required that railroads publicize shipping rates and ...
Definition and functions. A freight forwarder is an entity who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers. [ 3] A carrier is an entity that actually transports goods and may use a variety of shipping modes, including ships, airplanes, trucks ...