The International Chamber of Commerce have published new Incoterms® 2020 that have come into effect from the 1st of January 2020. The ICC originally published Incoterms® in 1936 and have continually made updates to reflect the changes to the Global Trade environment. It’s important that all parties involved in trade clearly understand the changes and how they apply to global supply chains. Read More »

The Harbor Maintenance Fee (HMF) is a fee charged on cargo shipped through US ports. It helps fund the maintenance and improvement of these ports, ensuring they stay operational for trade. This fee is applied to commercial cargo shipped that go via ocean freight. Introduced in 1986 under the Water Resources Development Act, the HMF […] Read More »

The definition of Bunkering and Bunker Bunkering refers to the process of supplying fuel to ships. It includes delivering the fuel needed for engines and machinery onboard. Sometimes, it also includes providing essentials like food and water for the crew. A “bunker” is the term used for the fuel stored onboard a ship. It is […] Read More »

The term “berthing” has deep maritime roots. It is believed to come from Old English words related to finding a safe place for a ship to rest. Over time, sailors began using the term to describe the process of guiding a vessel into a secure spot. By the 16th century, the verb “to berth” started […] Read More »

Global trade depends on efficient systems to track and manage goods. Location codes play a key role in identifying places involved in shipping and logistics. They simplify communication between businesses, governments, and transport companies, ensuring smooth operations. UN LOCODE stands for the United Nations Code for Trade and Transport Locations. It is a system developed […] Read More »

Ports and terminals form the backbone of global trade facilitating the smooth movement of goods across locations. Without them, supply chains would grind to a halt. Ports manage large-scale operations, while terminals specialize in tasks such as cargo transfer and sorting. In this article, we’ll explore the distinct roles they play and how they work […] Read More »

BRICS is shaking up global trade and challenging old power structures. This group of nations has become a strong advocate for emerging economies, prioritizing growth, collaboration, and reducing dependence on traditional Western systems. So how did it all begin, and what has BRICS accomplished? From ambitious development projects to plans for a fairer global economy, […] Read More »

NMFC codes are part of the National Motor Freight Classification system. They classify freight based on factors like density, handling, stowability, and value. These codes were created by the National Motor Freight Traffic Association (NMFA). Each type of freight gets its own NMFC code, which helps carriers know how to handle and price each item. This […] Read More »

Accurate weight management is important in shipping and logistics. Terms like Net Weight, Gross Weight, and Tare Weight are used to measure cargo. These terms are often confused and can lead to mistakes.  Weight affects safety, pricing, and transport limits. Incorrect declarations may overload vehicles, creating safety risks and breaking legal limits. This can lead […] Read More »

The most favored nation (MFN) principle is an important rule in global trade. It acts as a non-discriminatory trade policy, meaning a country must give the same trade terms to all its partners. If one country receives a benefit, like a lower tariff, then all trading partners should get the same. This rule helps prevent […] Read More »

China’s export strength fuels global industries, with top markets like the US and Japan. Major sectors include technology, automotive, and textiles. In 2023, China’s trade reached $3,380 billion, underscoring its growing influence in international markets. Read More »