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Worldscale. Worldscale is a unified system of establishing payment of freight rate for a given oil tanker 's cargo. Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result.
For Internet service providers, flat rate is access to the Internet at all hours and days of the year (linear rate) and for all customers of the telco operator (universal) at a fixed and cheap tariff. Flat rate is common in broadband access to the Internet in the US and many other countries. A charge tariff is a class of linear rate, different ...
Freight rate. A freight rate (historically and in ship chartering simply freight[1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport (truck, ship, train, aircraft), the weight of the cargo, and the distance to the delivery destination.
A forward freight agreement (FFA) is a financial forward contract that allows ship owners, charterers and speculators to hedge against the volatility of freight rates. It gives the contract owner the right to buy and sell the price of freight for future dates. FFAs are built on an index composed of a shipping route for tanker or a basket of ...
The United States imposes tariffs (customs duties) on imports of goods. The duty is levied at the time of import and is paid by the importer of record. Customs duties vary by country of origin and product. Goods from many countries are exempt from duty under various trade agreements. Certain types of goods are exempt from duty regardless of source.
Corporate taxable profits (ordinary income) are taxed at a flat rate of 23%. [20] [failed verification] The tax base is the sum of operating profit/loss, financial revenues and net capital gains minus tax depreciation. In addition, the profit is taxed on the owner's hand through dividend and capital gain taxation. [15]
The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods.
The Congress passed a tariff act (1789), imposing a 5% flat rate tariff on all imports. [29] Between 1792 and the war with Britain in 1812, the average tariff level remained around 12.5%. In 1812 all tariffs were doubled to an average of 25% in order to cope with the increase in public expenditure due to the war.
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