In the past, payments to freight forwarders were mostly handled via a Letter of Credit, involving a lot of paperwork and banking bureaucracies. Nowadays, the three most common ways to pay your freight forwarders are: wire transfer, 15 or 30 day credit, and credit cards. Let’s take a quick look at each one of these payment methods. Continue Reading
Whether on purpose or not, very often there are things freight forwarders exclude from their quotes. Shipping rates are very complicated, and change due to market trends, which make it easy for some freight forwarders to leave out not-so-common fees altogether in order to increase a quote’s easiness to read. However, it can greatly help you in the near future to know what kind of fees you might have to pay, which you haven’t yet seen in a rate proposal. Continue Reading
The estimates for this month’s ocean freight rate are here. The rates are port-to-port on for popular trade lanes between China – US and they will be effective until at least March 15th.
When you give out a standard set of information, as you would when gathering quotes, you expect a standard – or at least similar – type of quote back from each individual freight forwarder. But, as you’ll soon find out, your quotes are not all going to look exactly the same. Not all quotes are created equally, why? Continue Reading
In order to receive the price and quality of service that you want from a supplier, it is vital to negotiate. This can prove troublesome for some business owners – after all, not everyone is a born negotiator. That’s why we’ve put together the following tips on about negotiating with your suppliers overseas.
When it comes to international shipping, there are two main options: ocean freight or air freight. Air freight is basically moving cargo in airplanes from point A to point B. Ocean freight means moving the cargo in ships, either in a full container (Full Container Load: FCL), or sharing space with other shipments in order to fill a container together (Less than Container Load: LCL). Small ocean shipments will always be an LCL load.
If you’ve shipped freight internationally, or even just looked into the possibility, you’ve probably heard the word “incoterm.” But what does it actually mean, and how do you choose which set of incoterms to use? Different incoterms can affect your profit, and it makes more sense to choose one set versus another in some cases. It really depends on your shipment: FOB, EXW, port to door, or port to port all lend themselves to a certain incoterm. It is a good idea to figure out which incoterm is the best one for you.
As the inauguration looms near, many Americans (and probably a good portion of the globe’s population) are concerned about how the new president will affect them. President Trump will have a lot of power and influence on the world stage, so there’s a great deal of wondering going on. Luckily for people in the logistics industry, the president-elect has already made statements about many of the policies he hopes to implement so we at least have some idea of the Trump effect. Continue Reading
A question any shippers would ask – regardless of their sizes, goods, or locations, is how much time it takes freight forwarders to quote on their shipment. With younger entrepreneurs starting new businesses all the time, expectations are changing. We want quotes, and we want them now – a lightning speed turnaround is just one of the many parts of the “on demand” culture that has infiltrated every part of our lives. Whether it’s normal business hours, or midnight when you finally have a spare moment to search for a freight forwarder, small business owners tend to think that freight forwarders will respond to their quote request instantly and they will receive quotes back within few hours.