What is transshipment ? Reasons for transshipment.

 There are many ports in the world. But all ports are not directly connected with each other. In this reason transshipments occurs. It helps   shipping business to connect ports for global business. It’s also a very economical as compared to direct shipments. If you do not use transshipments, you may lease containers for direct shipment to final destination for your gods.

What is transshipment? 

Transshipments or trans-shipment means unloading cargo from one vessel and reloading it into another to reach the final destination. During the process of transshipment, the containers are unloaded at the site or port, reloaded onto a different vessel, and transported to the landing place or final destination.

Thus transshipment hub means any intermediate location where containers are shipped on new vessel for next journey.

Famous transshipment ports are Port of Busan, Port of Hong Kong, Port of Singapore, Port of Shanghai, Port of Shenzhen, Port of Rotterdam, Port of Tianjin,Port of Guangzhou etc.

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DEFINITION OF A CUSTOMER IN THE COMMERCIAL BANK

The term 'customer' of a bank is not defined by law. Ordinarily, a person who has an account in a bank is considered its customer. Banking experts and the legal judgements in the past, however, used to qualify this statement by laying emphasis on the period for which such account had actually been maintained with the bank. In Sir John Paget's view "to constitute a customer there must be some recognisable course or habit of dealing in the nature of regular banking business." This definition of a customer of a bank lays emphasis on the duration of the dealings between the banker and the customer and is, therefore, called the 'duration theory'. Accord- ing to this viewpoint a person does not become a customer of the banker on the opening of an account, he must have been accustomed to deal with the banker before he is designated as a customer.

The above-mentioned emphasis on the duration of the bank account is now discarded. According to Dr. Hart, "a customer is one who has an account with a banker or for whom a banker habitually undertakes to act as such." 

"Broadly speaking, a customer is a person who has the habit of resorting to the same place or person to do business. So far as banking transactions are concerned he is a person whose money has been accepted on the footing that the banker will honour up to the amount standing to his credit, irrespective of his connection being of short or long standing."

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