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TeachMeFinance.com - explain Ocean freight differential (under P.L. 480) Ocean freight differential (under P.L. 480) The term 'Ocean freight differential (under P.L. 480) ' as it applies to the area of agriculture can be defined as ' The difference between the cost of P.L. 480 shipments that are required to be carried on U.S. flag vessels compared to the cost that would have been incurred had they been carried on lower cost foreign bottoms. The U.S. government pays this difference either by paying the total freight, if the sale is made under Title II of P.L. 480, or by reimbursing the recipient country or private grain company (whichever pays the shipping) if the sale is made under Title I of P.L. 480'. Previous 5 Terms: Occupational Therapy ocean ocean color ocean current Ocean energy systems Next 5 Terms: ocean mixing Ocean ranching Ocean thermal energy conversion (OTEC) Oceanic Volcanoes oceanography About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.