Customs regulations are a necessary, but challenging part of international shipping. Clearing customs increases costs, paperwork, and time-delays. Customs-bonded warehouses help reduce this friction and are an integral part of the global supply chain. What is a bonded warehouse? A customs bonded warehouse is a secured building or area where merchandise can be imported and stored for a period of time, without any import taxes (duties) being charged. Duties are only paid when the goods are removed for domestic use.
Ports have aided the world in the migration towards large-scale trade. Cargo travels to and from nearly twenty million ports worldwide. Today, we’ll discuss the ports with the most shipping container traffic worldwide. These include the Shanghai Port, Shenzhen Port, Guangzhou Port, Hong Kong Port, Qingdao Port, Tianjin Port, Ningbo-Zhoushan Port, the Busan Port, Jebel Ali Port, and Singapore Port. If you’re interested in finding out more about these ports, keep reading!
The number of import businesses is growing every year, and rightly so. When done correctly, running an import business can be very lucrative. However, despite the fact that so many people choose to become importers, only a tiny portion of them can make it big. Why is that? Because most import businesses are unable to import successfully. When importing a good, it is essential that companies plan out the process carefully and executes it perfectly.
Being the largest and most culturally diverse continent globally, Asia also drives a large percentage of the growth in international shipping. It comes as no surprise then that this continent also includes some of the world’s top ports. Out of the top 10 ports in the world, eight are located in Asia. Here are the top 10 ports in Asia, based on size, traffic, and rank. 1. Port of Singapore The Port of Singapore is ranked second in the world, owing to its size and traffic.
African ports have gained popularity over the years due to their very successful port management partnerships. These ports are responsible for a majority of the country’s imports and exports. The ports of Africa are a legitimate business for the country. They also have the added value of being tourist spots. Africa’s top 10 ports are a thing of great pride and joy for the country. 1. Port Durban This is the busiest port in Africa.
Seaports in Europe are a pillar of European trade, foreign relations, economy, tourism, and transportation. Currently, there are a total of 340 ports that connect Europe from within as well as with the outside world. Besides connecting Europe with 848 Far East ports and 629 Central and South American ports, these European trade hubs also link mainland Europe with peripheral regions. Here’s a list of the top 10 European ports
Customs brokers are the experts that help us to import or export products. Also referred to as the import brokers, they take care of smoothly facilitating the clearance of goods through the customs processes. People often confuse customs brokers with freight forwarders. In reality, freight forwarders are experts in logistics, whereas customs brokers deal in clearing products from customs. What Customs Brokers Do? Customs brokers work with importers on the ports.
Marine terminal operators at the ports of Los Angeles and Long Beach created the PierPass. It was developed at the time when the US’ largest port was one of the fastest growing container gateways. PierPass is a non-profit company that addresses multi-terminal issues such as security, congestion, and air quality. The main aim of the PierPass is to mitigate congestion at these ports. PierPass OffPeak Program All the international container terminals in the two adjacent ports established additional shifts per week.
If you are shipping something overseas, you must be familiar with the role of the Federal Maritime Commission in ocean freight. This guide will help you understand what the FMC is, learn a little bit about its history, and determine the role that it plays in ocean freight. What is the FMC? First of all, what does FMC stand for? The FMC acronym refers to the Federal Maritime Commission which was established in 1961 to serve as a regulator 4 liner shipping groups and American importers and exporters.
The number of accessible truckers in North America to handle container movements has decreased during the past months due to a combination of circumstances. These include a quick rebound in volume at ports and rail terminals, drivers exiting the industry because of the COVID-19 situation, and a slowdown in loading and unloading containers for security measures. “We are seeing trends that truckers are booking up and availability varies between 2-7 days depending on where in the country we are doing a load.