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.
What does it mean when your container gets rolled As a shipper, it’s not entirely uncommon for your container to get rolled. When an ocean freight cargo is said to have been ‘rolled’, it means it has not been loaded onto the vessel it was meant to sail on. There are various reasons for a container getting rolled, including but not restricted to: Overbooking Vessel omissions (when a vessel skips the port) Vessel weight issues Mechanical issues Customs problems Missed cut-off days Documentation problems Pending title validation (for auto shipments) This tends to happen more to shipments requiring a transshipment or with end destinations at lesser-known ports.
As the world’s largest importer, the United States’ import process is nothing short of complex. Besides the usual paperwork needed for any ocean freight shipment such as the Bill of Lading or packing list, there’s also a great deal of other expenses such as fees and taxes to consider. In this post, we’ll take a deeper look into one of them: the customs bond. What is a customs bond? A customs bond is like an insurance policy that guarantees payment of all duties and fees related to a shipment.
Many shippers may be aware of the importance of the Bill of Lading and its vital role in ensuring the proper transportation and retrieval of an ocean freight shipment. However, the importance of the shipping packing list must not be overlooked. Whether you’re filling out a packing list to export commercial merchandise or to move overseas, there are important aspects of this document you need to be aware of. A simple misunderstanding of this document may result in unnecessary delays and their corresponding fees.
Understanding the role of automation and digitalization in shipping As the ocean freight industry moves to embrace digitalization and automation, it’s not only important to understand their benefits but also their shortcoming and risks involved. And to do so, iContainers had the honor of sitting with one of the industry’s leading experts on the topic, Lars Jensen, CEO of Seaintelligence Consulting, to get his professional insights on these new technologies as to where the shipping industry is headed with them.
What is a shipping return window? One of the most important concepts in ocean freight that many exporters are unaware of is the carriers’ return window. A shipping return window is the allocated time set by shipping carriers in which a container must arrive at the terminal to be loaded onto the departing vessel. Carriers typically set a return window of four days, although this may vary as circumstances change.
Maritime shipping responsibilities There are many parties involved in an international shipment, which makes it difficult to identify the party responsible for each leg of the process when a problem arises. As a participant in this convoluted relationship, you must not only be aware of your own responsibilities but that of the other relevant parties as well. Not knowing the responsibilities of your supplier or freight forwarder represents a huge risk for an importer.
Ocean Network Express The world’s newest shipping line officially began operations on April 1st, 2018. As new as it is, the members of which it’s made up are foreign to none in the shipping industry. The Ocean Network Express, or ONE, is a result of the merger of Japan’s formerly-three largest shipping lines, Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL), and Kawasaki Kisen Kaisha (K Line). The start of container shipping operations this month is in line with the initial schedule laid out when the company was officially established on July 7, 2017.
Digitalizing maritime shipping Much has been said about digitalization and its role in maritime shipping. Despite the technological advances over the past decades, the ocean freight remains rather relatively backwards (in comparison with other industries such as airline and hospitality) in the adaptation and adoption of digitalization. In recent years, however, the industry seems to have woken up to the idea of ‘adapt or sink’ and have made strides in this direction.
The importance of the container seal When shipping a container, securing your merchandise should be one of your main priorities. All shipping containers transported via ocean freight, be it FCL shipping or LCL shipping, are required to be secured using specific shipping container seals to make sure that the container has been properly closed and locked. Upon placing the container seal, your container has been properly closed at origin. Since it can only be removed once, it ensures that your container remains unopened during its maritime journey prior to delivery to buyer.