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The ocean freight industry is (in)famous for its paperwork. Getting to know all of them is tedious enough — getting them right is a task in itself. Any seemingly innocuous error can cause problems and delays that may severely disrupt your supply chain. By and large, many of these documents contain the same information — buyer, seller, merchandise details, etc. But each document plays a different role and it’s important to not only make sure that the information written on each document is accurate but that it’s consistent across all the documents.
East Coast ports making gains The ports of Los Angeles and Long Beach on the US west coast may reign top as the largest and busiest ports in the country, but ports along the east coast have slowly been making gains. According to the Pacific Merchant Shipping Association (PMSA) West Coast Trade Report released last year, gulf and east coast ports have been catching up with their western counterparts.
Whether you’re importing or exporting for commercial purposes or moving overseas, you’ll want to make sure the cargo you’re transporting in shipping containers is as secure as possible. But ocean freight transportation is a process that involves more than just the sea journey from one port to another. It begins with proper packing and loading at origin until it reaches its destination for unloading. Your cargo is exposed to many risks during this journey, especially when it’s being loaded and unloaded.
It’s the time of the year again to light up the Christmas trees and adorn them. Depending on where you are in the world, you may need to buy a Christmas tree - or simply go into your backyard to chop down a fir. Given that China’s the world’s largest exporter in the world, it should come as no surprise then that it’s also the top producer of artificial Christmas trees.
Cosco’s plan to leapfrog Maersk as the world’s largest shipping line is no secret. And may industry players be warned—do not take Cosco’s ambitions lightly for it’s more of an advisory than it is a desire. In the past two years since the Chinese government merged China Shipping with China Ocean Shipping to form the current Cosco Shipping, the liner has undertaken a series of investments and expansions as evidence that it’s pressing on strong with its ambitious agenda.
Freight forwarding agents form one of iContainers’ most important and valued clients. Our services extend beyond simply being able to provide agents with limited offers with more route and price options, which in turn helps them to meet their clients’ demands and needs. In addition, as we start to build commercial relationships with these agents, they become more than just customers. These relationships eventually develop into a partnership with which mutual demands and needs are exchanged.
In an increasingly globalized world with segmented economies, shipping agents find themselves dealing with more trading companies and their foreign-to-foreign transactions than the old-fashioned factory-to-importer shipments. The success of such contracts typically hinges on the ability of trading agents to conceal the factory’s contact from the end buyer through the issuance of a switch Bill of Lading. What is a switch Bill of Lading? A switch Bill of Lading refers to a second set of Bill of Lading issued by the carrier (or its agent) to substitute the original bills of lading issued at the time of shipment.
In recent years, the hot topic of digital freight forwarding has been about technology, digitization, and automation. In comparison with other industries including as air travel, the shipping industry is considerably backwards when it comes to digitalization. There doesn’t appear to be a sense of urgency to adopt and embrace technology and its advantages. The industry knows this and is certainly reacting. For starters, shipping lines Maersk and Hapag Lloyd now offer instant quotes on their online page.
We’re still more than a year away from seeing a finalized version of the next edition of Incoterms. But already, there have been expectations and even certain speculations from the ocean freight industry, which is generating some buzz as to what changes we can expect in Incoterms 2020. So now seems like a good time to dive into the history of Incoterms. When were they first implemented? Why were they needed?
It cannot be argued that technology is paving the way and opening new opportunities for exciting advances in the ocean freight industry. One of the most prominent efforts in this direction has come in the form of automation of terminals and ports. Responding to market demand for automation According to B2B research group Marketsandmarkets, the semi and fully automated container terminal market is currently worth $9.09 billion. This is expected to jump 20% to $10.