A vessel call sign is a unique identifier assigned to a ship for radio communication purposes. It is used to distinguish the vessel from others in maritime communication systems, including VHF radios and satellite communications.
A vessel omission (sometimes called a port omission) occurs when a scheduled vessel does not call at a planned port during its voyage. This disruption means that the vessel skips the port entirely, which can impact the transportation and delivery schedules of goods.
In cargo shipping, vessel rotation is the planned sequence of port calls that a shipping vessel follows on its route to optimize cargo loading and unloading operations.
The timetable of departure and arrival times for each port call on the rotation of the vessel in question.
A journey by sea from one port or country to another one or, in case of a round trip, to the same port.
Warehouse utilization is a logistics metric that refers to the effective use of available warehouse space for storing goods and inventory.
Order for specific transportation work carried out by a third party provider on behalf of the issuing party.
Logistics yard management refers to the process of overseeing and controlling the movement of trucks, trailers, containers, and other vehicles within a yard or distribution center. This includes tasks such as scheduling, tracking, and coordinating the arrival, departure, and storage of these vehicles.
Marine insurance
What is Marine Insurance?
Marine insurance offers protection for shipments and vessels involved in maritime trade. It covers various risks, including damage to cargo caused by accidents, theft, natural disasters, and even piracy. Additionally, marine insurance can provide coverage for liabilities arising from collisions, salvage operations, and pollution incidents during transportation by sea.
What Does Marine Insurance Cover?
Marine insurance typically covers the following:
- Cargo Loss or Damage: Compensation for loss or damage to cargo during transit by sea, including loading, transportation, and unloading. The responsibility for cargo insurance can be the responsibility of the buyer or seller, and is determined by the INCOTERMS used to govern the freight contract.
- Vessel Damage: Protection for vessels against risks such as collisions, sinking, grounding, and damage from weather-related events. This insurance is typically purchased by the carrier.
- Liabilities: Coverage for liabilities arising from maritime activities, including collisions with other vessels, pollution incidents, and injuries to crew members or third parties. This insurance is typically purchased by the carrier.
Marine Insurance vs. Inland Marine Insurance
While marine insurance primarily covers goods and vessels during transportation by sea, inland marine insurance extends coverage to goods in transit within a country's borders, including transportation by land or air. Inland marine insurance is suitable for goods being transported domestically or over land, such as via trucks, trains, or pipelines, providing protection against similar risks as marine insurance, but for inland transportation routes.