12.2.4 Incoterms, especially in the context of container shipping

November 29, 2016

Incoterms, especially in the context of container shipping

What are Incoterms? Incoterms were drawn up by the International Chamber of Commerce. They are internationally recognised for all foreign cargo shipments. An incoterm refers to the following Costs: It identifies who is responsible for the expenses (shipping costs, insurance, customs duties, storage, etc) involved in a shipment from a […]
November 29, 2016

Test Yourself

A South African mining company wants to export 900 000 tons of coal to China via Richards Bay. In negotiations with the Chinese importer, the mining company agrees to instruct the shipbroker to arrange that the coal is shipped FOB. Who is the shipper – the mining company or the Chinese […]