Maritime freight option

• US 6,625,584 B1
• Filed: 05/04/1999
• Issued: 09/23/2003
• Est. Priority Date: 05/04/1999
• Status: Expired due to Fees

• Current Assignee: Jatin S. Bains, Livingston Davies, Surinder S. Bains
• Original Assignee: Jatin S. Bains, Livingston Davies, Surinder S. Bains
• Inventors: Bains, Surinder S., Bains, Jatin S., Davies, Livingston
• Primary Examiner(s): Dixon, Thomas A.
• Application Number:
  US09/305,021
• Time in Patent Office: 1,603 Days
• Field of Search: 705/400, 705/5, 705/6, 342/41, 340/539, 700/90
• US Class Current: 705/400
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A maritime container booking process delivered via the Internet for pricing, routing and confirming freight bookings and associated options on ocean going container ships loading and discharging in the United States of America and ports of call worldwide. By following this program the shipper can secure freight bookings, without paying for services in advance or committing to any minimum cargo volume. Pricing of the freight will be sensitive to loading ports, discharge ports, type of equipment required, type of service required, transit time and type of commodity.

Claims

1. A data processing machine for determining a freight rate to engage a container space, comprising a CPU and a memory operatively connected to said CPU, said memory containing a program adapted to be executed by said CPU and said CPU and memory cooperatively adapted to receive container pricing information, to calculate a price of shipment of a container, to engage such shipment within a future period, for a particular freight rate, satisfying the cargo transport information submitted, wherein said program in said memory is adapted to receive an indication that a customer has engaged a container space and is further adapted to update a database to reflect a unique container carrier booking.

2. A data processing machine for determining a freight rate to engage a container space, comprising a CPU and a memory operatively connected to said CPU, said memory containing a program adapted to be executed by said CPU and said CPU and memory cooperatively adapted to receive container pricing information, to calculate a price of shipment of a container, to engage such shipment within a future period, for a particular freight rate, satisfying the cargo transport information submitted, wherein said program in said memory is adapted to calculate the container price based at least in part on the number of similar container bookings confirmed, using information stored in an option database.

3. A data processing machine for determining a freight rate to engage a container space, comprising

a CPU and a memory operatively connected to said CPU, said memory containing a program adapted to be executed by said CPU and said CPU and memory cooperatively adapted to receive container pricing information and cargo transport information, and to calculate a price of shipment of a container to engage such shipment within a future period, for a particular freight rate, satisfying the cargo transport information;

wherein said program in said memory is adapted to calculate the freight rate based at least in part on the formula;

Freight Rate=O times F times C times V times E times S where O is a ocean freight rate for the container, F is a standard option factor, C is a factor related to the commodity type, V is a factor related to volatility, E is a factor related to the equipment type and S is a factor related to service category.

4. A method of determining the price of a container shipment, comprising the steps of:

receiving cargo transport parameters relative to the future booking of a container;

calculating a price for a container booking within a defined shipping period for a particular price, a container shipment satisfying the cargo transport parameters;

receiving at least one of first information describing a desired category of service, second information concerning expected cargo volume on voyages that satisfy a load port criteria and a transit time criteria, and third information concerning cyclical nature of container prices,

and wherein said calculating step further includes utilizing at least one of said first information, said second information, and said third information to calculate the option price,

outputting said price.

5. A data processing computer for selling an option to engage container space, comprising:

A terminal adapted to communicate with a central controller that calculates a price of an option to engage a container space within a shipping period, for a particular container price, wherein said terminal is adapted to transmit to the central controller option pricing information comprising load port terminal, discharge port criteria and transit time and routing criteria, service category criteria, commodity type criteria, container equipment criteria and further adapted to receive from the central controller a price of an option satisfying the load port terminal criteria, discharge port criteria, transit time and routing criteria, service category criteria, commodity type criteria and container equipment criteria.

6. The computer according to claim 5, wherein said terminal is adapted to transmit a customer request to purchase the option and further adapted to perform a shipping engagement utilizing a booking note in order to book containerized freight in accordance with a container carrier'"'"'s bills of lading, terms and conditions and said computer is adapted to transmit such option to a customer.

7. The computer according to claim 5, wherein said terminal is adapted to transmit a customer request to exercise an option and further adapted to confirm a booking note in accordance with said pricing information.