Prinship

In CIF sales contract, risk of dammages/loss is transfers to the buyer when goods are placed on the whaft.

• True

• 
  False

Which of the following describes the tanker chartering subdivision of petroleum products?

• • Petroleum products are carried on product carriers and area by-products from crude oil by fractional distillation, 

  • Petroleum products are carried on ships for sale in the retail market.

  • There are two types of refined products – dirty, fractions or refined products with higher boiling points, not easily biodegradable and clean, fractions with lower boiling points, easily biodegradab

• Petroleum product is an upstream product (extracted from the earth) and is refined and then sold in the market for example as petrol etc.

  Petroleum products are carried on very large ships called ULPCs (Ultra Large Product Carriers) or VLPCs (Very Large Product Carriers).

• 
  • Petroleum products are carried on product carriers are sophisticated by-products from oil and some of these products are highly volatile, while others could be toxic. 

  • Ships carrying these cargoes must have a high standard of cleanliness as if the cargo is contaminated, it will not conform to the buyer’s specification and therefore will be of no value to the buyer.

  • Petroleum products move as full cargoes and in small quantities.

  • ‘Parcel’ tankers are ships that is designed to carry many different consignments in separate tanks, which require highly sophisticated pipework and pumping arrangements.

  • Other products that move on product tankers include sulphuric acid, liquid ammonia and vegetable oils.

Who will have the lowest risk for arrival category incoterms "D"?

• Seller

• Carrier

• Shipper

• Buyer

Which of the following describes deadfreight?

• 
  It is a payment of expenses during a vessel’s stay in port made by the master or by the ship’s agent on behalf of the owners.

• It is damages to which an owner is entitled to claim against a charterer if the charterer fails to load the full quantity of cargo as stipulated under the charter.

• It is a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.

• It is reward given to the charterer for completing loading or discharged before laytime expires in a voyage charter.

Which of the following best describes incoterms Cost and Freight.

• Seller delivers the goods at departure port. Price of goods includes cost of transport to the departure port.

  • Risk of damage/loss transfers to the buyer when the goods are loaded on the vessel. 

  • Insurance for the sea transport paid by buyer.

  • The transport to the buyer's warehouse is arrange by the buyer.

• 
  • Seller delivers the goods at destination port. Price of goods includes cost of transport to the destination port.

  • Risk of damage/loss transfers to the buyer when the goods are loaded on the vessel. 

  • Insurance for the sea transport paid by buyer.

  • The transport to the buyer's warehouse is arrange by the buyer.

• Seller delivers the goods at destination port. Price of goods includes cost of transport to the destination port.

  • Risk of damage/loss transfers to the buyer when the goods are loaded on the vessel. 

  • Insurance for the sea transport paid by seller.

  • The transport to the buyer's warehouse is arrange by the seller.

• Seller delivers the goods at departure port. Price of goods includes cost of transport to the departure port.

  • Risk of damage/loss transfers to the buyer when the goods are loaded on the vessel. 

  • Insurance for the sea transport paid by seller.

  • The transport to the buyer's warehouse is arrange by the buyer.

A document required for the importer to arrange for financing, to open a letter of credit, to apply for proper import licenses is call the....

• 
  (Shipper's) Letter of indemnity

• Commercial invoice

• The bill of lading

• Porforma invoice

Which of the following is best describe a Delivery note.

• 
  A delivery order is a document which is to identify the country the goods were imported from.

• A delivery order is a form or document to be included in the shipment of the cargo.

• 
  A delivery order is a document required for the importer arrange for financing, a letter of credit, to apply for import licenses

• A delivery order is a document from a consignee, or an owner or his agent of a freight carrier which orders the release of the transportation of cargo to another party.

Which of the following is describe Laydays?

• 
  A fixed time for loading or discharging of cargo in a voyage charter party.

• A charge for conveyance of goods by lighters or barges in a harbour or between ship and shore.

• More Or Less Charterer's Option - Margins of cargo in charterer's option,

• 
  It is the days kept aside in a ship’s voyage schedule for loading and unloading of the cargo.

Which of the following is best describes a voyage charter?

• 
  A voyage charter is a long-term contract for the hire of a vessel, remuneration, is paid on the basis of a daily hire rate.

• A voyage charter is a short-term contract, for the carriage of bulk commodities, payment by way of freight.

• A voyage charter is a short-term contract which they are to complete the transport of a large amount of cargo from a certain port.

• 
  A voyage charter is a long-term lease of a vessel and assumes the responsibility of running the vessel.

Which of the following is not part of a bunkering operation?

• Bunkers are mostly supplied onboard the ship through a bunker barge, which is a relatively small boat or ship supplying fuel or other types of oils to relatively bigger ships.

• Bunkering is the process of supplying fuels to ships for their own use, and Singapore is one of the largest and most important bunkering port in the world. 

• There are three types of marine fuels supplied by bunker barges to bigger ships, these are; Heavy Fuel Oil (HFO) – used for all medium and low-speed marine diesel engines, Low Sulphur Fuel Oil (LSFO) – used on marine diesel engines in Emission Control Areas (ECAs) and diesel oil – used for ship generators

• Bunkering are sold and shipped in bulk quantity for export to other countries to supply bunkers for their port.