Who pays what charges in a sea freight shipment
In any trade transaction, there are two parties – the buyer and the seller.. When it comes to a sea freight shipment, either one or both of them may end up paying different sets of charges to different entities..
Not just for newcomers to the business of exporting and importing, this question sometimes perplexes many already in the business..
In this article I dissect this process to explain who pays what charges in sea freight shipment..
So who pays what charges in a sea freight shipment..??
What is a Switch Bill of Lading and when and why is it used..??
The world of shipping and freight is very dynamic and there may be several changes that happen during the course of a shipment or post shipment..
Destinations can change, cargo routing can change, cargo release parties can change, even important documents such as a Bill of Lading may be subjected to changes..
Some may be simple amendments, but in a lot of cases, the changes or requirements may be elaborate such that it necessitates the issuance of a Switch Bill of Lading..
Read here about what it means and when and where it is used..
What are “lost slots”..??
As container shipping has evolved over the years, so have the methods of carrying cargo and types of cargo being carried.. Open Tops and Flat Racks are two of the container types that are used in the carriage of (OOG) Out of Gauge cargo (also called (ODC) Over Dimensional Cargo in certain countries)..
This type of carriage has its own individuality and one unique feature of this type of carriage are the Lost Slots which occurs in the carriage of this type of cargo and this is explained in detail in this article..
Shipping Jargon : Street Turn
There is a new shipping jargon in town and it is called Street Turn.. It is a charge about to be implemented by a few of the shipping lines..
This has the shippers up in arms with some terming it as insane, appalling and a huge mistake.. Read about it here and join a short poll on what your opinion is about the street turn..
ZIM Line progresses to next phase of its Blockchain initiative
The world of digitisation and technology is upon us and the shipping and freight industry has been playing catch up compared to the other industries..
In November 2017, ZIM Line announced that the first pilot of paperless Bills-of-Lading based on blockchain technology was completed in cooperation with Sparx Logistics and Wave Ltd..
The pioneering pilot, the first of its kind led by an ocean carrier, was concluded successfully as part of ZIM lines new platform along with a selection of their leading customers to test this solution for trade activities on multiple shipping lanes..
Following this successful pilot, ZIM line has been evaluating its platform in different trade lanes with more customers and is now ready to move to the next phase of its blockchain initiative..