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The policy should be in the same currency as the contract. The seller must also turn over documents necessary, to obtain the goods from the carrier or to assert claim against an insurer to the buyer. The documents include (as a minimum) the invoice, the insurance policy, and the bill of lading. These three documents represent the cost ...
Greek companies control 21% (2022) [ 1] of the world's total merchant fleet, making it the largest in the world. [ 2] They are ranked in the top 5 for all kinds of ships, including first for tankers and bulk carriers. Greece is a maritime nation by tradition, as shipping is arguably the oldest form of occupation of the Greeks and has been a key ...
Shipping insurance is a service which may reimburse senders whose parcels are lost, stolen, and/or damaged in transit. In Canada and the US, shipping insurance is offered by postal services, courier companies, and shipping-insurance companies.
A shutdown of only a few days would limit the economic impact but still cause problems, said Kristin Dziczek, policy advisor in the Federal Reserve Bank of Chicago’s research, policy, and public ...
The Ministry of Shipping and Insular Policy ( Greek: Υπουργείο Ναυτιλίας και Νησιωτικής Πολιτικής) is a government department of Greece responsible for managing the nation's maritime and shipping sectors, as well as developing policies concerning the country's numerous islands. This ministry also oversees ...
The container shipping company's shares jumped sharply at the open Monday and were up by about 22% as of 10:56 a.m. ET after the company released quarterly results that easily topped expectations ...
Flag of convenience ( FOC) is a business practice whereby a ship's owners register a merchant ship in a ship register of a country other than that of the ship's owners, and the ship flies the civil ensign of that country, called the flag state. [ 1] The term is often used pejoratively, and although common, the practice is sometimes regarded as ...
The Nigerian National Shipping Line (NNSL) was established by the Nigerian government in 1959. Despite heavy investment and subsidies, the state-owned company was unable to compete with European lines. Much of the investment went to enriching the political elite. [1] Deeply indebted, the NNSL was liquidated in 1995 and all 21 of its vessels ...
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