Currently the bunker fuels used in all modern commercial ships have a high content of sulphur which is quite harmful to the environment..
The current global limit for sulphur content of ships fuel oil is 3.50% m/m (mass by mass)..
The IMO has been working to reduce harmful impacts of shipping on the environment since the 1960’s and as from 1st of Jan 2020, has implemented regulations that sets the new global limit on the sulphur content at 0.50% m/m..
IMO has advised several methods through which ships can meet lower sulphur emission standards, which obviously comes at a cost.. Read and share your comments on how these new costs may affect you..
Many businesses rely on lending to finance new ventures, reduce their financial exposure or manage their cash flow..
Trade financiers provide or identify sources of capital for firms seeking to invest in international trade and create structures for them to access it.. But what exactly is Trade Finance and how does it all work..??
This article is part of an introductory series about trade finance, where we look at the advantages of trade finance, the ways trade finance can be structured, and the products underpinning import and export transactions..
Profitability in sea freight shipment is not a myth or a unicorn.. It is very possible.. Read how..
It is not a secret that ocean transportation and logistics is currently confronting immense change in terms of new technology, new markets, rising customer expectations, and new business models..
There have been a few articles on this blog about these advances like Blockchain based Bill of Lading, and other technologies that are shaking up the freight industry .. There are many ways the industry could develop to meet existing and new challenges, some of which are evolutionary and others are more revolutionary..
While cargo transportation is generally a complex business, in some cases it could be straightforward as well depending on how you manage it.. It is also a fact that in this high paced business environment it is not easy to follow every market trend and find answers on how to tackle the prevailing challenges easily..
Each customer and each shipment has its own issues, peculiarities, problems and characteristics.. But the main question that several shippers and services providers ask is “How to ensure profitability in sea freight shipment”..
More often than not, exporters, importers, carriers and logistics service providers experience loss due to poor planning, decision making and implementation..
A lot of people get into the industry sometimes without knowing even the basics relating to the business, the specifics relating to the business, the requirements and some of the vital information that can make or break the business.. I have even written a Beginner’s Guide to Importing for those who wanted to get into the importing business but didn’t know how..
Here are 11 steps you can follow to ensure profitability in sea freight shipment..
As far as container shipping is concerned, the current decade or the period since Y2K has probably seen the most number of consolidations, mergers, acquisitions and alliances than any other period in container shipping history..
Could ONE (Ocean Network Express) which is the latest, be probably the last one (at least for now) in the string of consolidations, mergers and acquisitions..??
All of you have heard about a Certificate of Origin..
In this article, I will explain about what is a certificate of origin, why it is required, who issues it etc..
A Trade agreement is a contractual arrangement between countries concerning their trade relationships and how they conduct trade with each other..
Trade agreements may be bilateral or multilateral and could be in the form of Regional Trade Agreements (RTA) between two or more partners or a Preferential Trade Agreement (PTA) under which developed countries grant preferential tariffs to imports from developing countries..
Customs department in the importing country may require a proof of origin in order to determine whether or not the cargo that is imported may be subjected to certain trade measures such as the preferential duty tariff (for stuff that is imported from with the PTA bloc), prohibted goods etc..
Customs in the exporting country may also require this proof of origin in countries where such trade measures are applicable for exports..
As per WCO’s (World Customs Organisation) definition, “proof of origin” means a document or statement (either in paper or electronic format) which serves as a prima facie evidence to support that the goods to which it relates satisfy the origin criteria under applicable rules of origin. It includes a certificate of origin, a self-issued certificate of origin, or a declaration of origin..