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Cost of goods sold (COGS) is the carrying value of goods sold during a particular period.
The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. Incoterms define the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction. They are widely used in international commercial transactions or procurement processes and their use is encouraged by trade councils, courts and international lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the global or international transportation and delivery of goods. Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.
FOB is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway transport. As with all Incoterms, FOB does not define the point at which ownership of the goods is transferred.
A cargo ship or freighter is a merchant ship that carries cargo, goods, and materials from one port to another. Thousands of cargo carriers ply the world's seas and oceans each year, handling the bulk of international trade. Cargo ships are usually specially designed for the task, often being equipped with cranes and other mechanisms to load and unload, and come in all sizes. Today, they are almost always built of welded steel, and with some exceptions generally have a life expectancy of 25 to 30 years before being scrapped.
The Treaty with Tunis was signed on August 28, 1797, between the United States of America and the Barbary State of Tunis. As the treaty provided in Article One:
"Demurrage" in vessel chartering is the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo (laytime). By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading. Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract. The demurrage sometimes causes a loss to the seller as it increases cost of the total freight.
The modern terms short-sea shipping, marine highway and motorways of the sea, as well as the more historical terms coastal trade, coastal shipping, coasting trade and coastwise trade, all encompass the movement of cargo and passengers mainly by sea along a coast, without crossing an ocean.
A body of water, such as a river, canal or lake, is navigable if it is deep, wide and calm enough for a water vessel to pass safely. Such a navigable water is called a waterway, and is preferably with few obstructions against direct traverse that need avoiding, such as rocks, reefs or trees. Bridges built over waterways must have sufficient clearance. High flow speed may make a channel unnavigable due to risk of ship collisions. Waters may be unnavigable because of ice, particularly in winter or high-latitude regions. Navigability also depends on context: a small river may be navigable by smaller craft such as a motorboat or a kayak, but unnavigable by a larger freighter or cruise ship. Shallow rivers may be made navigable by the installation of locks that regulate flow and increase upstream water level, or by dredging that deepens parts of the stream bed.
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty. The three main types of charter are: demise charter, voyage charter, and time charter.
The Emergency Wetlands Resources Act of 1986 became a United States federal law (P.L.) 99-645 on November 10, 1986. Prior to the Act the purchase of wetlands by the Federal Government had been prohibited. The Act allocated funds from the Land and Water Conservation Fund (LWCF) for the purchase of wetlands by the Secretary of Interior, who is head of the United States Department of the Interior. The Act also instituted a National Wetlands Priority Conservation Plan which was to be established and set up by the Secretary. Included in this plan was a requirement for all States to include wetlands as part of their Comprehensive Outdoors Recreation plan. The plan also transferred the Migratory Bird Conservation Fund amounts which were to be equal to the import duties on arms and ammunition. The main purpose of the Act was to ensure a follow through on international obligations and fulfillment of these obligations on the various past and future migratory bird treaties. It also promoted the conservation of wetlands so the benefits they provide could be maintained.
A maritime lien, in English and US law and elsewhere, is a specific aspect of admiralty law concerning a claim against a ship for services rendered to it or injury caused by it.
In different administrative and organizational forms, the Food for Peace program of the United States has provided food assistance around the world for more than 60 years. Approximately 3 billion people in 150 countries have benefited directly from U.S. food assistance. The Bureau for Humanitarian Assistance within the United States Agency for International Development (USAID) is the U.S. Government's largest provider of overseas food assistance. The food assistance programming is funded primarily through the Food for Peace Act. The Bureau for Humanitarian Assistance also receives International Disaster Assistance Funds through the Foreign Assistance Act (FAA) that can be used in emergency settings.
The HSC Virgen de Coromoto is an 86 m (282 ft) fast catamaran ferry operated by Consolidada de Ferrys C.A. in Venezuela. It was built in Australia in 2004 for a fast ferry service on Lake Ontario between Toronto, Ontario, Canada and Rochester, New York, United States. After the ferry service failed, the boat was sold in 2007 and operated in the Strait of Gibraltar on a Spain-Morocco service until 2012. In 2012–13, the ship operated on Kattegatruten's Aarhus–Kalundborg route in Denmark until October 2013 when the route was cancelled.
Affreightment is a legal term relating to shipping.
The Enterprise was an early steamboat operating on the Willamette River in Oregon and also one of the first to operate on the Fraser River in British Columbia. This vessel should not be confused with the many other vessels, some of similar design, also named Enterprise. In earlier times, this vessel was sometimes called Tom Wright's Enterprise after one of her captains, the famous Tom Wright.
The Thomas Corwin was a revenue cutter of the United States Revenue-Marine and United States Revenue Cutter Service and subsequently a merchant vessel. These two very different roles both centered on Alaska and the Bering Sea. In 1912, Frank Willard Kimball wrote: "The Corwin has probably had a more varied and interesting career than any other vessel which plies the Alaskan waters."
A master mariner is a licensed mariner who holds the highest grade of seafarer qualification; namely, an unlimited master's license. Such a license is labelled unlimited because it has no limits on the tonnage, power, or geographic location of the vessel that the holder of the license is allowed to serve upon. A master mariner would therefore be allowed to serve as the master of a merchant ship of any size, of any type, operating anywhere in the world, and it reflects the highest level of professional qualification amongst mariners and deck officers.
SS (RMS) Mona's Queen (I) No. 21930 – the first vessel in the Company's history to bear the name – was an iron paddle-steamer which was owned and operated by the Isle of Man Steam Packet Company.
Sue H. Elmore was a steamboat built for service on the coast of Oregon and southwest Washington. From 1900 to 1917, the vessel's principal route ran from Portland, Oregon down the Columbia River to Astoria, and then west across the Columbia Bar, then south along the Oregon coast to Tillamook Bay. Once at Tillamook Bay, Sue H. Elmore was one of the few vessels that could reach Tillamook City at the extreme southern edge of the mostly very shallow bay. After this Sue H. Elmore was sold, being operated briefly in Puget Sound under the name Bergen, and then for many years, out of San Diego, California as a tugboat under the name Cuyamaca. During World War II Cuyamaca was acquired by the U.S. Army which operated the vessel as ST-361. Afterwards the army sold ST-361 and the vessel returned to civilian ownership, again under the name Cuyamaca. In 1948 Cuyamaca sank in a harbor in Venezuela, but was raised and by the early 1950s, was owned by one A. W. Smith, of Pensacola, Florida. This vessel's former landing place in Tillamook, Oregon is now a municipal park named after the ship.
Relief was a stern-wheel steamboat that operated on the Columbia and Willamette rivers and their tributaries from 1906 to 1931. Relief had been originally built in 1902, on the Columbia at Blalock, Oregon, in Gilliam County, and launched and operated as Columbia, a much smaller vessel. Relief was used primarily as a freight carrier, first for about ten years in the Inland Empire region of Oregon and Washington, hauling wheat and fruit, and after that was operated on the lower Columbia river.
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This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.
