Nautical Term: RT
Definition of RT
The term Revenue Ton (RT) refers to the metric ton or cubic meter, whichever is greater, used to calculate the overall freight liability.
The RT is calculated on a line-by-line basis of the Packing List using the largest amount. For instance, if the packing list includes items weighing 0.5 metric tons, 0.8 metric tons, and 1.5 cubic meters, the RT would be calculated as follows:
1.5 cubic meters (maximum RT of this item)
This calculation is then repeated for each item on the packing list to determine the overall RT.
Once the overall RT has been determined, the freight liability is calculated by multiplying the overall RT by the freight rate. This final calculation provides the total freight liability that the shipper will be responsible for paying to the freight forwarder or carrier.
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