If you have ever passed through or witnessed the Panama Canal, you probably know how marvelous it is in terms of scenery and size. But if you dive deeper into its history, you’ll realize that there’s more to it than just appearance. The Panama Canal is considered a marvel in engineering and has decades of stories worth telling. In this article, we dive deep into the history of the Panama Canal, answer why Panama Canal is so important, and the mark it makes in today’s society.
From machinery and pharmaceutical equipment to bulk goods and personal effects, thousands of cargo is being transported every day across the globe. Whether you’re a first time shipper or looking to relocate to a new country with your household goods, you will want to make sure your shipment arrives in good condition. And that means having adequate packaging to prevent damages while considering external factors such as conditions that your shipment may be exposed to and the amount of handling involved.
FOB, CIF, or EXW? The Incoterm you choose for your import from China can greatly affect your overall cost. But strangely, it’s seldom the focus of your import campaign. Most importers tend to place higher priority on obtaining the lowest sale price possible while overlooking other details. This may end up being a very costly mistake. Given their direct impact on import costs, it’s time we start giving Incoterms a closer look.
With shipping representing 90% of world trade, it’s safe to say that the ocean freight industry is key to sustaining the modern economy. And the biggest contributors are the thousands and millions of companies that import and export merchandise in shipping containers to and from every corner of the world. With shipping so closely tied to the economy, even the slightest changes in the markets can have profound impacts international trade relations, demand, and supply.
It can be horribly frustrating when your shipment is late. Estimated transit time is supposed to be as precise as possible so that the parts involved know when to expect the delivery and when to arrange a pickup. However, things can go wrong, and, unfortunately, shipping delays can occur. Customers may end up pushing you for a due date, and you end up being held responsible for the delay. Even in some situations, they may arrive with damage, faults, or incorrect parts.
The United Arab Emirate is a melting pot of various interesting economic activities from tourism to oil production and plenty of other services in between. This country was once, not so very long ago, considered a backwater by many who have now become key allies in trade and commerce with them. The secret to the UAE’s success in the region and globally has been diversification in their economic endeavors so that they are not wholly reliant on just one aspect of their natural endowments.
The UAE is a major trading partner with the USA in the Middle East region because of its history of stability and economic development. The trade between the two countries has been lucrative with exports from the US to the United Arab Emirates reaching over 22 billion. As trusting trading partners the two countries have found themselves also taking other partnership steps in military support and infrastructure growth in the region.
In 2018, the Kingdom of Saudi Arabia was the 28th biggest export destination for the United States with $22.4 billion in goods and services. According to the United States Trade Representative Office, the Saudis were the US’s 22nd largest trading partner in 2018 and the Department of Commerce says that exportation of goods and services to Saudi Arabia supports over 160 thousand jobs. The top exports to the Saudi Arabian market from the US include vehicles, machinery and equipment, weapons and ammunition and foodstuff.
The Philippines is strategically placed in the South China sea and the Pacific to make it a strategic trade partner with the United States. Apart from trade relations the two countries enjoy excellent military partnerships with the US setting up Naval bases in Subic and other places in the past and currently. The United States considers the Philippines a strong Non NATO ally and there are an estimated four million citizens of America with Philippine ancestry and over 200,000 US citizens in the Philippines.
The United States is the chief trading partner to the Honduras republic. Their bilateral trade relations have been mutually beneficial to both countries with the US exporting $5 billion worth of goods to Honduras and the Honduras exporting $4.6 billion to the United States. Both countries also enjoy military collaborations with the US having a military joint task force headquartered at the Santo Cano Air Base. The United States heavily invests in manufacturing, infrastructure construction, textiles, and general commerce to the tune of over $1 billion.