Latest Posts
Incoterms® 2024: Guide, and changes of Incoterms® Explained
Last updated on January 31, 2024 by Ben Thompson
Incoterms® Guide to use in 2024 Incoterms® were first published in 1936 and are continually updated over time to reflect the changing global business environment to be continually used in 2024 and beyond. The International Chamber of Commerce ICC published the latest version of Incoterms® 2020. These changes came into effect on the 1st of January 2020 and…
Types Of Packaging For Export
Last updated on April 18, 2024 by Ben ThompsonWhen importing or exporting goods internationally, it is crucial to use strong, reliable packaging to ensure the products are transported safely and to reduce the risk of damage. The type and quality of this packaging are vital but often overlooked aspects. Since products come in various shapes, sizes, and degrees of fragility, they require appropriately…
Download a Proforma Invoice Template PDF
Last updated on April 16, 2024 by Ben ThompsonA Proforma Invoice template is an important document used when selling goods Internationally. It can also be referred to as a “pro forma invoice” or “performa invoice”. In this article you can download a Proforma Invoice PDF template to use for global trade.
Notify Party in Shipping: Exploring Differences in Bill of Lading Documentation
Last updated on April 13, 2024 by Ben ThompsonDiscover the pivotal roles of Notify Party and Consignee in international shipping. The Notify Party, not responsible for cargo possession, ensures smooth communication upon cargo arrival. Meanwhile, the Consignee, the legal owner of cargo, handles customs clearance and obligations. Understanding their disparities aids efficient logistics and enhances shipping processes.
What is Friendshoring, Nearshoring, Reshoring and Offshoring
Last updated on March 26, 2024 by Ben ThompsonExplore the dynamics of global supply chain strategies! From friendshoring to reshoring, discover how businesses optimize operations amidst geopolitical shifts and market demands.
What is a NVOCC?
Last updated on March 19, 2024 by Ben ThompsonNVOCCs facilitate bulk shipping, while freight forwarders manage global trade intricacies. Learn more about their roles and how to choose the right fit for your needs.
What is the difference between FCL and LCL shipping?
Last updated on March 13, 2024 by Ben ThompsonWhen goods are transported across the world by sea, they are usually transported inside shipping containers. FCL Shipping (Full Container Load) and LCL Shipping (Less than Container Load) are 2 methods of shipments that package goods inside shipping containers. FCL shipping is when a single shipment takes up the entire space of the shipping container.…
Glossary of Shipping Terms
Last updated on March 1, 2024 by Ben ThompsonThe International shipping and marine transport industry is full of unique shipping terms and shipping abbreviations. And these are used every day to describe everything from modes of transport, units of measure, pricing structures, IncoTerms and much more. Therefore, it’s important that importers, exporters and freight companies correctly communicate freight terms to avoid problems or…
Just-in-Time (JIT) Manufacturing in 2024: Definition, Examples, and Pros & Cons
Last updated on February 28, 2024 by Ben ThompsonJust-In-Time (JIT) manufacturing minimizes inventory, aligning production with demand to cut costs and improve efficiency. It reduces storage and financing expenses, enhancing supply chain responsiveness. Despite benefits like cost savings and agility, JIT faces risks from supply chain disruptions and requires precise demand forecasting and strong supplier coordination to succeed.
How to Calculate the Landed Cost of Imported Products
Last updated on February 26, 2024 by Ben ThompsonBusinesses that are involved in Global Trade are faced with dozens of additional costs, fees and charges involved with importing products through to the final location. It’s imperative that buyers understand the actual final costs of imported products in advance, to make smart decisions for their business.
How the Electronic Bill of Lading Improves the Shipping Process
Last updated on February 23, 2024 by Ben ThompsonOver the past few years there have been advancements in technology that have transformed the traditional paper based Bill of Lading into an Electronic Bill Of Lading (eB/L) format. This new technology is also referred to as E Bill of Lading, Electronic Bill or Digital Bill of Lading. The new Electronic Bills of Lading can…
