Re: Who owns a cargo ?
Posted: December 25, 2023, 2:46 pm
I have wondered the same. When does the buyer become the owner of the cargo? Before its loaded on the boat, when it is on the boat or when it is unloaded unto the buyers dock?
The $ side of the business still fascinates me; If FeOre goes for (keep the math simple) $100/ton and a boat can carry north of 25 thousand ton, who owns that multi-million $ cargo ? Even if it's all pockets in the same coat (i.e CleveClifs, USSteel, DTE), Who's money is it ? Bill's of Lading can be worded many different ways. What would be typical for a lake boat ?
Thankx