Definition: Ex Works (EXW) is an international trade term that defines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. Under EXW terms, the seller’s primary obligation is to make the goods available for pickup at their premises or another named place (such as a factory or…
Definition: CIP, or Carriage and Insurance Paid To, is an international trade term that outlines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. CIP terms specify that the seller is responsible for arranging and paying for the carriage (transportation) and insurance of the goods to a…
Definition: CIF, or Cost, Insurance, and Freight, is a widely used international trade term that specifies the responsibilities and costs associated with the shipment and delivery of goods. CIF is primarily used in the context of maritime shipping and outlines that the seller is responsible for delivering the goods to a named port of destination…
Introduction Freight forwarding is a multifaceted and essential service within the global logistics and supply chain industry. It encompasses a wide range of activities related to the transportation of goods, bridging the gap between shippers (individuals or businesses) and various transportation providers, such as ocean carriers, air freight companies, trucking companies, and rail operators. Freight…
Settled along the scenic shores of the Columbia and Willamette Rivers, the Port of Portland stands as a shining example of how a maritime gateway can balance economic growth with environmental stewardship. With its strategic location and commitment to sustainability, the port has become a vital driver of regional and national economies. In this blog,…
The Israel-Palestine conflict has raised significant alarm about the possibility of disruptions in the global supply chain. This ongoing dispute has triggered concerns over potential bottlenecks in shipping, surging freight rates, and unpredictable delivery schedules, all of which present a substantial hurdle to the smooth operation of worldwide supply networks. Additionally, the lack of clarity…
Introduction The COVID-19 pandemic has severely affected global supply chains, revealing economies’ susceptibility and interdependence around the world. The Southeast Asian (SEA) region, which is strongly…
The logistics industry plays a critical role in the global economy, ensuring the smooth movement of goods and services from one place to another. However, this industry is also a major contributor to carbon emissions, which have severe environmental consequences. In order to address the pressing issue of climate change, it is imperative for the…
Tracking loads should never be a monotonous chore; rather, it should be recognized as a gateway to unlock strategic advantages and optimize your logistics operations. Embracing load tracking empowers businesses to make informed decisions, enhance efficiency, and deliver exceptional customer service, setting the stage for overall logistical excellence. This is where the benefits of Load…
In the intricate landscape of global logistics, having a firm grasp on your shipments’ whereabouts is a non-negotiable necessity. Whether you’re dispatching or receiving, real-time updates on your containers’ location are vital to orchestrating a flawless delivery process. To this end, China Ocean Shipping Company (COSCO) offers a state-of-the-art tracking system, ensuring you’re always in…
Port congestion is a major challenge in today’s supply chains, often leading to unpredictable delays. The good news? You can mitigate these disruptions with proactive measures. By following three simple steps, GoComet’s port congestion tracker helps you stay ahead. Our machine learning algorithm analyzes data from over 45,000 containerized shipments monthly, monitoring congestion at major…
Supply chain management is a complex network that links businesses, individuals, and processes to transport goods from manufacturers to consumers. As companies evolve, they aim to be versatile in coping with unexpected business disruptions. As a result, supply chain intelligence transitions from a mere aspiration to an essential requirement. Why do businesses need supply chain…
Maintaining contact with your shipments is crucial in the field of global logistics. If you want to plan, manage, and guarantee a smooth delivery process, knowing where your containers are at all times is essential, whether you’re the sender or the recipient. Thankfully, Hyundai Merchant Marine (HMM) provides a sophisticated tracking system that lets you…
In the world of shipping, staying connected to your packages is paramount. Whether you’re a sender or a recipient, having visibility into the progress of your shipments allows you to plan, manage, and ensure a smooth delivery process. Fortunately, the United States Postal Service (USPS) offers a robust tracking system that enables you to monitor…
As the $12 Billion global supply chain industry continues to grow at an impressive rate of 12% per year, it’s surprising that standardization is still sorely lacking in many areas. For instance, despite being a truly international industry, there is very little uniformity when it comes to freight invoicing naming conventions. This variability is primarily…
As the world continues to grapple with the pandemic, the increasing new COVID outbreaks in China could lead to further global supply chain disruptions, the reason why experts are talking more about supply chain issues 2023 and how to deal with these challenges. China is a crucial player in the global economy and a key…
The global supply chain trends are a result of the quickly developing logistics industry and keeping up with the current era’s rapid technological breakthroughs. Although it can be challenging for supply chain managers and business executives to keep up with these developments, doing so is essential to maintaining the resilience of your supply chain and…
In our series so far, we have covered “what are demurrage charges and how to avoid demurrage charges” besides talking about “new methods to reduce demurrage detention charges”. This article will discuss the number of free days available across all the major sea ports in USA that can be used to avoid paying hefty demurrage…
[Case study] How a 134-year-old global print company profitably revamped their tracking using real-time visibility Geography: Global Module: GoTrack Automated Shipment Tracking And the Kodak team says… “The GoComet solution is very user-friendly, easy to input shipment details, and visible to multiple operational areas in the company that are stakeholders in the supply chain.”
Did you know that demurrage and detention charges can accrue up to 20 times the container’s value? With international shipping rates already soaring, any extra expenses incurred on top of the freight rate will take a bite of your margin. Today, the detention and demurrage charges easily exceed $100 per container per day. While D&D can be an…
