India was allowing the local Mangalore Refinery and Petrochemicals Ltd (MRPL) and some other state refineries to import Iranian crude oil on cost, insurance and freight basis wherein Tehran was to arrange for ships and insurance, and would receive no profit from the sale.

FORBES: India Bans Iran Oil Tankers From Delivery

If I purchase a book for the same price from a retailer and a remote seller, the remote seller's freight cost would be paid by my own state of Texas.

FORBES: Readers Say

Kumar realized that the railways had traditionally overpriced petroleum freight rates and quickly offered Ambani a 20% discount on his cost.

FORBES: On the Right Track