Singapore remains the world’s busiest transhipment port
The Port of Singapore maintained its position as the world’s busiest transhipment port in 2021, with record-high container traffic of 37.5 million TEU. Source: Container News
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Behind spiralling freight rates 2021: Signs of rebound?
Spiralling freight rates have left businesses worldwide scrambling to stay afloat and weather yet another year full of unknowns. Even now, as we have entered 2021, soaring prices are increasingly piling more pressure on the already stretched global supply chains. To better equip ourselves for future disruptions and safeguard against the present market volatility, we…
8 Steps To Better Freight Optimization
Did you know that optimizing your freight management could cut shipping costs by up to 30%? Yet, many companies miss out on these savings by focusing only on individual shipments rather than the entire supply chain. Freight optimization isn’t just about finding the fastest route—it’s about transforming every stage of the process, from sourcing materials…
Top 5 reasons to use a freight rate index
Getting competitive prices each time you ship your freight is critical to your bottom line. While traditionally you might be relying on your internal freight rate history to determine the best lanes and rates for your freight shipments, today there’s a better way. It is here that freight benchmarking or freight rate index tools step…
Top 10 shipping lines around the world
As a majority of the world’s goods continue to move by sea even today, the role played by shipping lines in global trade cannot be overlooked. Shipping containers move 95% of the worldwide cargo. It is these companies that have kept the international supply chains running for the longest time and have stood the test of…
What is Freight Tender and How to Optimize It?
If you are a logistics or supply chain manager, the terms freight tender, RFQ proposal and transport procurement would probably be synonymous with tedious and time-consuming processes. Nevertheless, freight tendering is a crucial part of the procurement process. Owing to the unforeseen pandemic and its aftermath, supply and demand have witnessed severe fluctuations. Securing reasonable…
Dos and Don’ts While Negotiating Freight Rates
The simplest way to drive double-digit cost savings every time you ship is to ensure that you negotiate well to get the best deals each time. Being in total control of how much you pay for your shipments and making use of the right tools to negotiate better is crucial to improving your bottom line….
Top 9 shipping terms to keep in mind
Whether you are a seasoned professional or just starting out in the logistics industry, there are quite a few common terms that you need to be aware of. This will help you to understand the freight forwarding process and ensure smooth operations. To enable an efficient supply chain, and avoid miscommunications in payment of freight,…
What is a Bill Of Lading?
Exporting and importing goods can be quite overwhelming given the number of intricacies, documentation, formalities and above all, money that is involved in the process. A document that plays a vital role in making sure that your freight is delivered on time, in the right condition and acts as a document of title to the…
Optimising Your Freight Negotiations
Today’s dynamic logistics and supply chain environment requires strategic planning; execution of strategy; measurements to goals; analysis against industry benchmarks; and continuous improvement. However, negotiating quotes for your freight remains a static process. Freight procurement via an RFQ (Request For Quote) is plagued with inefficiencies when done manually. With logistics operations accounting for nearly 95%…
Data Driven Freight Management: Why it is Important?
The lack of data in your freight management process is disrupting your supply chain and leaving your logistics team in the dark. Read this blog to find out the benefits of integrating data and freight analytics into your freight process.
Export audit made effortlessly
This is your Auditor speaking, happy Friday to you. “Of the total 3600 shipments sent last year, please explain why in 2796 cases, export vendors with lowest quotes were ignored to give export orders to vendors who quoted higher prices. Please explain what kind of negotiations were done with the vendors for these 2796 shipment orders and…