How to avoid Fraudulent freight forwarders and their scams

fraudulent freight forwarders - shipping and freight resource

The activity of Freight Forwarding has been around for many years and there has been a recent resurgence of the forwarder especially in the form of a digital freight forwarder. Unfortunately fraudulent freight forwarders have permeated this industry as well.

Like any industry, freight forwarding has its good and bad sides and it is quite easy to become a victim of fraud and most of the time, freight forwarders are not associated with the crime or fraud and they may be co-victims just like you.

Here are some of the ways of fraudulent freight forwarders and their scams.

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The impact of congestion and capacity on businesses and what to expect?

Webinar

Port Congestion, equipment and space capacity crunch are impacting businesses with supply chains and consumers heavily impacted..

In a webinar, Rachel Premack, Senior Investigations Reporter at Business Insider, Michael J Gordon, Senior FMC Advisor (retd), and Adam Compain, SVP of Global Growth at project44 discuss how rising freight prices have set off a domino effect, manifesting across supply chains through port congestion, drayage holdups, dropping inventories, inflation and lengthening lead times..

They reference insights from a market survey of over 200 supply chain professionals and talk through a possible timeline to a freight market cool down, when it can potentially happen and the circumstances that will lead us there..

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The Ever Given saga continues, amid positive news for some of the crew

Shipping and Freight Resource Press Release

With the Ever Given still “legally” stuck in the Great Bitter Lakes in Suez Canal, discussions and concerns have turned to various other issues relating to the cargo, the ship’s crew and General Average.

The “arrest” of the ship by the Suez Canal Authority (SCA) which intends to recover losses of around $916 million including $300 million for salvage bonus and $300 million for loss of reputation, has further complicated life for the ship crew who must have been having anxious moments no doubt.

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What’s next, for the Ever Given and the shipping and freight industry

My Opinion

Many journalists and Twitteratis around the world might be having withdrawal symptoms after the Ever Given has been refloated from being stuck diagonally across the Suez Canal.. Although the vessel … Read more here..

Timber & Technology Conference 2021 – Global Developments & Innovative technologies in the Timber Industry

Timber and Technology Conference 2021 - Shipping and Freight Resource

Timber is one of the most common and popular forestry products shipped around the world with a global export value of around $270 billion.

Digitalisation is sweeping through many industries including the timber industry, bringing with it dramatic reductions in the cost of obtaining, processing, and transmitting data achieved and changing the way we do business globally.

The Timber & Technology Conference 2021, organised by Centersource, is a virtual conference, which will discuss Global Market Developments & Innovative technologies in the timber industry and is a perfect platform for sawmills, importers, traders, and forwarders to understand and navigate global timber markets and work more efficiently.

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Planning to start your own shipping and freight business..?? Read this..

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For any business to be successful, one needs to know the business, its model and requirements inside out.. Many businesses start with a great idea..

But there could be big gap between a great idea and a great startup and many people don’t have a clue on how to bridge this gap and may end up spending their life savings to start the business..

Forbes published an article on 10 Reality Checks Before Starting Your Own Business..

    1. Are you ready for the startup lifestyle?
    2. Are there customers with real pain and money?
    3. Is the market opportunity large and growing?
    4. Is this a crowded space already?
    5. Does your solution have hidden dependencies or costs?
    6. Do you have intellectual property to defend against competitors?
    7. Can you build a motivated and qualified team?
    8. Have you looked realistically at the costs?
    9. Do you have stamina and skills?
    10. Going “from” rather than “to”?

 

While the above is good for any business, if you are planning to start your own shipping and freight business, here are 7 reasons why you shouldn’t start your own shipping and freight business..

Yes you are reading it right..

You shouldn’t start your own shipping and freight business if :

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33% of hazardous cargo misdeclarations are willful

maersk honam TSIB report

The meaning of Declare (verb) is to make known or state clearly, especially in explicit or formal terms; to announce officially; proclaim; to state emphatically; to manifest; reveal; show; When none of the above happens, it is termed as “to misdeclare” or “misdeclaration“.. … Read more here..

Ocean Freight rates 2021, an Indian perspective

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2020 will be remembered by many as one of the years that has caused maximum upheaval in terms of freight rates, space and equipment capacity in all markets around the world.

While the impact on the Trans-Pacific and Trans-Europe has been the maximum, other trades like the India trade has also been affected quite substantially.

These never before seen steep increases especially on the exports, has sent the export community in India into a frenzy as shipping lines continue with the increases one after the other.

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Hydrogen council welcomes MSC into its fold, reaches 100+ members mark

News - Shipping and Freight Resource

A study by the International Council on Clean Transportation (ICCT), revealed that liquid hydrogen could power nearly all container vessels crossing the Pacific Ocean, one of the busiest shipping lanes in the world..

The ICCT study found that 99% of the transpacific voyages made in 2015 could have been powered by hydrogen and fuel cells by replacing 5% of cargo space with extra storage for the clean fuel, or by adding an additional port of call to refuel..

The Hydrogen Council, a global CEO-led coalition has been working to enable the global energy transition through hydrogen..

The Hydrogen Council’s efforts have been buoyed by the joining of MSC – the world’s 2nd largest container shipping line..

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Learn How to Add Value to Global Food Supply Chains 

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Join Tim Crumley, Vice President of Global Logistics at Sysco International Food Group, Robin Jaacks, Chief Commercial Officer at Ocean Insights and Sarah Barnes-Humphrey, Founder and Host of Lets Talk Supply Chain in a webinar on “How Visibility adds Value to Food Logistics” where they will discuss issues facing the food logistics industry such as port congestion, carrier capacity, equipment shortage and lack of transparency on shipment statuses and how to manage them.

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Competitive advantage in timber supply chain through digitalisation

Centersource White Paper - Shipping and Freight Resource - digitalisation of timber supply chain

For many customers, the shipment of timber products can be as problematic as it is valuable as it requires close coordination between the various parties..

Speed to market is quite crucial in this business, as is slow steaming or longer transit, to avoid tariff increases in some cases or to adjust the delivery schedules to suit the customer’s requirement..

All these factors together determine the actions that the timber companies must take in order to have a competitive advantage in the market..

Centersource Technologies, an independent digital marketplace and supply-chain automation platform has released a White Paper that provides answers to these questions..

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