The beginning of the end for the Paper Bill of Lading

My Opinion

Many things have changed in the last 30 years in shipping and freight..

Many positive new developments have taken place with things from the vintage days of shipping either obsolete to almost obsolete now..

If you look at many of the news items about the industry recently, there has been a certain buzz and intensity around the electronic bill of lading..

I am fairly confident that people entering the shipping and freight industry in the next decade will be told that 2020 was the year that saw the beginning of the end for the paper “Bill of Lading” and the year in which the switch to “Electronic Bill of Lading” (eBL) began in earnest..

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4 industry executives look into the future of global supply chains

Webinar

COVID-19 is probably the world’s most disliked word currently due to the rampant economic disruption it has wreaked on the world. All countries and all businesses around the world have been affected by this pandemic.

The supply chain industry is one industry that has also been affected severely. The industry has seen a massive drop in volumes, congestion both on land and at sea, job losses etc, although ironically this is one of the industries that has and is helping to fight this pandemic through its movement of essential goods like medical supplies, food and PPE.

At the end of March 2020, we set up a short survey sponsored by Ocean Insights to analyse the impact of the pandemic on the industry and its preparedness.

12,000 clicks of that survey and the analysis and a 95% engagement rate told us that in times of strife, people want to come together, understand what is going on and help each other out of this situation.

So, we got together a team of executives to discuss these issues in a webinar moderated by an equally celebrated and astute industry journalist.

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FAK it.. A deep dive into FAK rates and how it works..

FAK Cargo - Rates - Shipping and Freight Resource

The process of global trade is simple to look at, especially if you look at it from the outside..

  • There is a buyer who needs a product ;
  • There is a seller who sells this product ;
  • They discuss and agree on a price ;
  • The buyer pays the agreed price ;
  • The seller arranges for the product to be transported to the buyer

End of trade..

Simple, right..?? Many would wish it was so..

While there are several processes and documentary flows involved in trade negotiations, there are even further processes involved in the actual movement of the goods from Point A to Point B..

One such process in the movement of goods that influences product pricing is the process of freight negotiation and freight quotation in which there are several types..

Let us take a deep dive into FAK rates and how it works..

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What the Final Interpretive Rule by the FMC on demurrage and detention says

causes of demurrage and detention

The issue of what the Federal Maritime Commission (FMC) may consider in assessing whether a demurrage or detention practice is unjust or unreasonable has seemingly been put to rest with FMC having the final word..

On the 28th of April 2020, the FMC issued its final rule on its interpretation of the Shipping Act prohibition against failing to establish, observe, and enforce just and reasonable regulations and practices relating to or connected with receiving, handling, storing, or delivering property with respect to demurrage and detention..

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Shipping lines offer time sensitive cost saving options for COVID-19

cost savings

COVID-19, has changed the way this world works and is expected to continue to influence the movement of global economies, human resources, the medical field and supply chain for the foreseeable future..

As at the time of writing of this article, the global number of infected people was around 2.38+ million with 164,000+ dead which is around 6.88% of the total infected..

Several ports around the world were/are either closed or working under limited conditions with several restrictions imposed on normal port activities.. Global trade has been severely impacted and is undergoing strain as never before..

Our industry plays a highly highly pivotal role in ensuring that the flow of goods continues, especially the flow of critical and essential goods all around the world..

Its good to see that some of the shipping lines have come up with some creative cost saving options for COVID-19..

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Do ports have a responsibility to check customs release documents..??

what is your opinion

Do ports have a responsibility to check customs release documents..??

Across the trading world, Port and Customs are two different entities and in a lot cases, terminals within the ports are privately operated whereas Customs is always part of the Government..

A terminal, off-dock CY or port would be the last bastion before the cargo is released to the receiver (in the case of imports) or shipped on board a vessel (in the case of exports)..

I wanted to hear from you if there are ANY ports in the world that has this check point..??

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Port Congestion – causes, consequences and impact on global trade

port congestion

Port Congestion is one of the dreaded words in the dictionary for ship owners, ship operators, ports and customers alike.. It is a situation has several causes and consequences and has a big impact on the supply chain as a whole..

This article unpacks what is port congestion, the causes for port congestion and who is affected..

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COVID-19 – How to manage working from home

Opinion Piece

As per reports, currently all countries in the world are affected by COVID-19 some worse than others..

As per BBC reports “The WHO said it took more than three months to reach the first 100,000 confirmed cases worldwide, but only 12 days to reach 200,000, four days to reach 300,000 and three days to reach 400,000.”

While preventive measures are essential, the concept of having to work from home, social distancing and isolation brings with it new challenges for both the employees and employers on how this must all be handled..

No one in the world was prepared for such a separation..

Even in the businesses of shipping, freight, maritime, logistics and supply chain which are considered as essential services around the world, many people are working from home due to this pandemic..

If you are one of the millions of people working from home due to this pandemic here are some pointers on how to manage it effectively..

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COVID-19 – South African shipping perspective

Shipping and Freight Resource Press Release

South Africa exports and imports of goods equivalent to the value of about 60% of its Gross Domestic Product (GDP).. This puts international trade front and center of South Africa’s economy..

The size of this trade indicates that South Africa is a very open economy.. While having an open economy is a good thing, it does expose the country to greater volatility as the economy is influenced by global events and economies to a large extent..

The robustness of this trade could however, suffer due to the current hot topic on everyone’s mind.. Corona Virus or COVID-19..

The burning question that everyone has is what impact will COVID-19 have on South Africa’s trade especially as all of the above 5 countries have been affected by the virus with China being the worst affected and others not far behind..

Andrew Pike, Head of Bowmans Ports, Logistics and Transport sector shares some useful information on COVID-19 from South Africa’s shipping perspective..

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The importance of declaring correct cargo details and consequences of cargo misdeclaration

Incorrect cargo details, misdeclaration of cargo and its details has been the bane of many shipping lines over the years..

The consequences of cargo and weight misdeclaration were so severe that the IMO had to implement SOLAS VGM regulations..

However there are still several incidents of such cargo misdeclaration including hazardous goods which have caused several maritime disasters..

In this article, Peregrine Storrs-Fox, Risk Management Director of TT Club writes about the importance of declaring correct cargo details and consequences of cargo misdeclaration..

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Importance of sustainable packaging and shipping

sustainable packaging and shipping

Global trade keeps us connected with customers, consumers and industries around the world.. There are several modes of transport used in global trade – sea, air, land and rail..

Whichever mode of transport you use, even the most meticulously planned shipment can go awry either due to natural disasters or man-made errors..

Cargo damage is one such disaster that not only gives rise to product and financial losses, but could also affect the relationship between customers and their service providers..

Physical and wet damage could be caused due to lack of proper packaging to protect the cargo on its long voyage..

With current modern developments in sustainable packaging and shipping solutions, businesses have no excuse not to take the movement into consideration.

Making an effort to reduce your environmental impact will not only pay off in cost but will impress your consumers in our now rightly eco-centric society.

Technology has led to the creation of numerous types of sustainable packaging materials, to allow businesses from any industry to reduce their carbon footprint and environmental impact.

Here are some of the pressing reasons to incorporate sustainable packaging and shipping into your supply chain.

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