12 Questions
Liner Shipping involves scheduled services between predetermined ______ on a regular basis.
ports
The Cargo Liner Era involved multi-deck vessels carrying a mixture of cargo and ______.
passengers
The Container System replaced the Cargo Liner ______ in the 1960s.
system
The Bill of Lading is a key ______ in Liner Shipping, serving as a receipt, evidence of contract, and ______ of title.
document
Liner Shipping routes include East-West, North-South, and Intra-Regional ______.
trades
Monopolistic Competition involves many producers and consumers with no business having total control over the market ______.
price
The conference system was beneficial for the shipping industry but should be heavily ______.
regulated
Strategic alliances have been formed to improve efficiency and service ______.
quality
The P3 Network was intended to make container liner shipping more efficient and improve service ______.
quality
The Ocean Alliance includes CMA CGM, China Cosco Shipping, Evergreen Line, and ______.
OOCL
G6 will lose APL and OOCL to Ocean Alliance, leaving it with Hapag-Lloyd, Hyundai, MOL, and ______.
NYK
Tramp owners respond quickly to supply/demand imbalances by moving their least efficient ships into ______.
layup.
Study Notes
- The text discusses Liner Shipping and its characteristics.
- The Liner Service originated in the 1870s with improvements in steamship technology and the opening of the Suez Canal.
- The Cargo Liner Era involved multi-deck vessels carrying a mixture of cargo and passengers.
- The Container System replaced the Cargo Liner system in the 1960s.
- Liner Shipping involves scheduled services between predetermined ports on a regular basis.
- The service is designed for large numbers of small shipments between many shippers and receivers in multiple ports.
- The Bill of Lading is a key document in Liner Shipping, serving as a receipt, evidence of contract, and document of title.
- Liner Shipping routes include East-West, North-South, and Intra-Regional trades.
- Monopoly, Perfect Competition, Oligopoly, and Monopolistic Competition are discussed as market structures.
- Monopolistic Competition involves many producers and consumers with no business having total control over the market price.
- The supply of sea transport is influenced by freight rates.
- Tramp owners respond quickly to supply/demand imbalances by moving their least efficient ships into layup.
- Liner companies must stick with their schedules, making capacity inflexible.
- Marginal cost pricing can result in significant losses or profits.
- Liner companies agree to "fix" prices to stabilize rates.
- Liner pricing policy is based on price stability and price discrimination.
- Liner conferences coordinate and set shipping rates and related fees.
- The conference system was beneficial for the shipping industry but should be heavily regulated.
- Strategic alliances have been formed to improve efficiency and service quality.
- The P3 Network was intended to make container liner shipping more efficient and improve service quality.
- P3 was intended to be an operational, not commercial cooperation.
- Maersk, MSC, and CMA CGM signed an agreement to establish a network center in England and Wales.
- The P3 Network agreement became effective in the US in March 2014.
- The European Commission decided not to open an antitrust investigation into P3 in June 2014.
- MofCOM prohibited the P3 Network due to a high market share and entry barrier.
- P3 response to the decision is unknown.
- The Ocean Alliance was announced in April 2016.
- The Ocean Alliance includes CMA CGM, China Cosco Shipping, Evergreen Line, and OOCL.
- The creation of Ocean Alliance orphaned 8 container lines.
- G6 will lose APL and OOCL to Ocean Alliance, leaving it with Hapag-Lloyd, Hyundai, MOL, and NYK.
Test your knowledge of Liner Shipping and its market structures with this quiz. From the history of the industry to pricing policies and strategic alliances, this quiz covers it all. Sharpen your understanding of the Bill of Lading, liner routes, and the impact of freight rates on supply. Learn about the P3 Network and the formation of the Ocean Alliance. Impress your colleagues with your expertise in the world of Liner Shipping.
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