Commercial Shipping Quiz

Who holds the final responsibility for the financial success of a shipping venture?

• Operations department

• Technical department

• Commercial department

• Accounting department

Which of the following is NOT typically handled by the commercial department?

• Chartering vessels

• Bunkering coordination

• Voyage profitability analysis

• Authorizing shipbrokers

What must the commercial team confirm before authorizing a voyage?

• Technical specifications

• Crew roster

• Operational feasibility

• Agent availability

What is a key advantage of managing both commercial and operational tasks in-house?

• Reduced taxes

• Seamless coordination

• Higher crew wages

• Lower fuel prices

What kind of data is typically used in big data systems for commercial shipping?

• Social media data

• Cargo manifests only

• Sensor and performance data

• Only financial statements

What is one major benefit of big data in commercial shipping?

• Manual scheduling

• Higher port fees

• Predictive maintenance

• Crew layoffs

What international code enforces crewing and safety standards on ships?

• MARPOL

• ISM Code

• SOLAS

• INCOTERMS

What factor can affect crew nationality decisions in ship management?

• Fuel type

• Cargo type

• Flag of registration

• Ship's age

Which organization fights against poor labor practices in global shipping?

• IMO

• UNCTAD

• ITF

• ILO

What is the purpose of voyage estimates in shipping accounting?

• Forecast maintenance schedules

• Predict potential profit or loss

• Calculate crew bonuses

• Assess environmental impact