What is a Certificate of Origin..??
If you are in the business of international trade you would have no doubt heard about a Certificate of Origin.. But not everyone is familiar with what is a certificate of origin, why it is required, who issues it etc.. This article aims to clarify these points..
A Trade agreement is a contractual arrangement between countries concerning their trade relationships and how they conduct trade with each other..
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 trade measures such as the preferential duty tariff (for stuff that is imported from with the PTA bloc), free trade deals, prohibited goods etc..
Assess your shipping and freight knowledge – Take this Quiz
So, you think you know about Shipping and Freight, huh..!! Well, who better to assess your shipping and freight knowledge than YOURSELF..!! Take this Shipping and Freight Quiz and find out for yourself..
This quiz has 20 questions relating to day to day shipping and freight matters and takes only 10 minutes to complete..
These quizzes are designed to help you :
- identify gaps in your shipping and freight knowledge
- expand, enhance or improve your knowledge about all things maritime, shipping, freight, logistics and supply chain
- promote the improvement of your shipping and freight knowledge in a fun way
- think about a particular situation from different angles or simply ‘to think out of the box’
So go ahead and take this quiz and see how you fare.. Good luck.. 🙂
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..
Is blockchain the panacea for the shipping industry..?? Hype vs Reality
Ahhhh, blockchain, to many, it’s like entering a parallel universe, evoking images of a world where all processes are in blocks, every block talking to the other, every block working seamlessly at the touch of a button, the equivalent of a human world where the roads are flowing with milk and honey..
There are proponents and opponents to this technology in equal measure, with the proponents fuelling a hype relating to the blockchain technology’s application in shipping, freight and logistics, in the media in the recent past..
We caught up with John Monarch, CEO of ShipChain in an effort to understand what the blockchain can and cannot do in the shipping and freight industry and to help us separate hype from reality..
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..
What is Low Sulphur Surcharge and why is it applicable..??
In April 2018, more than 100 Member States met at the International Maritime Organisation in London and adopted an initial strategy on the reduction of greenhouse gas emissions from ships by at least 50% by 2050 compared to 2008 levels..
The current global limit for sulphur content of ships’ fuel oil is 3.50% m/m (mass by mass)..
The regulations to reduce sulphur oxide emissions has introduced a new global limit for sulphur content of ships and as from 1st of January 2020 the new global limit on the sulphur content will be 0.50% m/m..
The LSS or Low Sulphur Surcharge is as a consequence of this meeting..
Will the container industry ever forget FOB – Free On Board
I can visualise a few raised eyebrows to the question “Will the container industry ever forget FOB”..
Especially since FOB has been and still seems to be an integral part of container shipping industry on many fronts..
It has been an industry standard, part of the furniture, sort of a boilerplate, an established term in the industry..
So what changed and why this question..??