Lecture 3: What are the additional terms used in Shipping?

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Lecture 3: Ever wondered What are the additional terms used in Shipping? Do you know the difference between Address Commission and Brokerage? Do you know what do the Claims department do in a Shipping Company?

In this video we'll try to answer the following questions:
  • (1:09) What are charter party forms?
  • (2:05) What are the different types of subjects?
  • (4:14) What is brokerage?
  • (5:00) What is an address commission?
  • (6:10) What is (PDA) Pro forma disbursement account?
  • (7:49) What is (FDA) Final disbursement account?
  • (8:15) What is (SF) Stowage factor?
  • (9:41) What is a Relet Clause?
  • (11:53) What is Rider Clause?
  • (13:12) What is Time Charter equivalent?
  • (14:01) What is “in geographical rotation”?
  • (15:06) What is a “ballast bonus”?

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