What are the main causes of Demurrage and Detention

causes of demurrage and detention

In one my previous articles, I explained the Difference between Demurrage and Detention..

After reading this, a few of my readers have asked me to explain the causes of demurrage and detention..

There are several reasons a container(s) can incur demurrage and/or detention or combined demurrage and detention.. Here are some of the major reasons..

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Cargo Tracking Note – what is it and where is it used in shipping?

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The Electronic Cargo Tracking Note (ECTN), also known as Bordereau de Suivi Cargaison (BSC) and other names depending on the country, is an official marine document that contains information relating to the cargo and its movement between ports.

This document is required to be submitted to the shippers’ councils in most countries of Africa. Every cargo exported to these countries, whether it is commercial, personal or charity, must have this ECTN certificate.

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What is a Delivery Order and who issues it..??

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If you are in the shipping and freight industry, you would have no doubt heard about a Delivery Order..

This article explains in detail all about a Delivery Order – what is it, who issues it, who should it be issued to and its importance..

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Is your country ready for Advance Cargo Information..?? Egypt is..

Customs Release

Global trade volume in 2019 was 11.08 billion tons amounting to around $19 trillion in value.. Seaborne trade accounts for around 90% of global trade..

Currently, various cargoes are transported in 24 million+ containers around the world on over 6,218 container vessels..

As you can imagine this leads to a lot of documentation especially with Customs authorities around the world.. When we speak of Customs authorities around the world, you can also imagine the different rules and regulations each country has for the import and export of cargo to/from their country..

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When can a bank guarantee against a lost bill of lading be cancelled..??

In cases where an original bill of lading is lost, there are several steps that need to be taken to carry on business and secure release without an original.. I previously wrote about What to do when an Original Bill of lading is lost so I am not discussing it again here..

One of the solutions for release without original bill of lading is a Bank Guarantee..

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DCSA publishes data and process standards for bill of lading preparation and issuance

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DCSA has published data and process standards for the submission of shipping instructions and issuance of the bill of lading (B/L).

DCSA B/L standards are aligned with the UN/CEFACT (United Nations Centre for Trade Facilitation and Electronic Business) multimodal transport reference data model to ensure a global industry framework that accelerates digitalisation through a unified industry effort.

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Can a negotiable bill of lading be telex released..??

telex release - shipping and freight resource

Maybe because it is one of the most important documents in global trade, there always seems to be a degree of uncertainty around a bill of lading and questions such as this..

Many people have doubts regarding which bill of lading to issue, how many to issue..

There are also questions such as what is a Telex Release, how it works and under what circumstances a Telex Release maybe issued..

In this particular post, I will cover the circumstances under which a Telex Release maybe issued and whether a telex release can be actioned on a negotiable bill of lading..

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Help, shipping line won’t pre-date or back date my bill of lading

back dating bill of lading

Pre-Dating or Back Dating is when the shipper requests the shipping line to show the Shipped on Board date on the bill of lading as a date before the actual sailing of the vessel (example : the vessel actually sails on the 2nd of March but shipper wants the line to show the shipped on board date on the bill of lading as 28th of February)..

Why would a shipper want his bill of lading to be pre-dated or back dated and why would a shipping line reject this request..??

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Letter of Indemnity – Dos and Don’ts

loi

Many of you might have heard the term Letter of Indemnity (LOI) in day to day shipping practice..

There have been several arguments, discussions, commercial threats, litigation etc surrounding this LOI..

But many still have doubts on what an LOI is, when it can and should be used, whether it is legally enforceable and whether it is worth the paper it is written on..

I will try to answer these questions in this article..

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Do I need cargo insurance for my shipment..??

cargo insurance - shipping and freight resource

Cargo insurance is a type of insurance that protects a buyer or seller of goods against damages or loss of cargo..

Despite insurance having been around for centuries, there is still a feeling that any form of insurance is a “grudge purchase” and in the case of cargo shipments, many people ask the question “Do I need cargo insurance for my shipment“..??

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Fonterra completes first blockchain trade transaction using Wave’s BL

Press Release - Shipping and Freight Resource

Fonterra, one of the world’s leading international dairy processors, has completed its first e-presentation for a shipment from New Zealand to China using WAVE BL’s blockchain-based technology with HSBC as the banker.

This fully digital end-to-end Letter of Credit presentation, in which digital documents were cryptographically signed and presented using WAVE BL’s platform, is an example of the regular flow of documents between companies and banks during the international exchange of goods.

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How do I know the bill of lading issued is a House Bill or Master Bill..??

shipping and freight question

“How do I know the bill of lading issued is a House Bill of Lading or a Master Bill of Lading..?? Is it mentioned anywhere on the bill of lading that it is a House Bill or a Master Bill”

I really love such basic but curious questions because it rejuvenates the gray matter.. Let’s explore this question..

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First cross-bank blockchain based letter of credit transaction completed

Press Release - Shipping and Freight Resource

Standard Chartered announced the successful completion of the first cross-bank Letter of Credit (LC) transaction between Vietnam and Thailand conducted over blockchain, in partnership with Asian Development Bank (ADB), Bank for Investment and Development of Vietnam and Standard Chartered Bank (Thai).

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