Informative

November 2, 2020 Informative 335

Punjab, Pakistan

For what it’s worth, all the 6 provinces, are ethnically divided, each province has its own distinguished native language that can not be understood by another., as well as are diverse in the local culture. However, most of the younger generation across these provinces (Millennium+) speak Urdu and English and share a common Pakistani culture influenced by the west in the urban areas.

October 24, 2020 Informative 218

Free Trade Zone

Sometimes called “customs free zones” or “duty free zones”. It is a generic term referring to special commercial and industrial areas. At which by special customs procedures it allows the importation of non-prohibited foreign goods (including raw materials, components, and finished goods) without the requirement that duties be paid immediately. If the merchandise is later exported, duty free treatment is given to re-exports.

The zones are usually located in or near ports of entry. Merchandise brought into these zones may be stored, assembled, processed or used in manufacture prior to re-export or entry into the national customs territory.

When manufacturing activity occurs in free trade zones, it usually involves a combination of foreign and domestic merchandise, and usually requires special governmental authority.

October 17, 2020 Informative 1,389

Seaports of the World by Country with their codes

The following is a listing of 835 of the most active seaports and inland ports in the world. Several thousand additional ports exist yet more than 99 percent of the world’s trade moves through these ports. We have omitted fishing ports and small ports that primarily handle private pleasure craft.

Continue…

October 15, 2020 Informative 2,542

What is a Shipping Container - The Complete Guide

INTRODUCTION

A container is a transportation equipment of value. Its life time may easily reach 15 years. Its use has made possible to rationalize transportation of goods with the result that their transfer from one means of transportation to another has been speeded up. For this reason and also for others such as fraud prevention, interchange control and rating, the identification of a container is of utmost importance at any stage of the distribution chain: delivery to shipper, delivery to carrier, delivery to consignee, contract of carriage, transfer from one carrier to another, customs formalities (export, transit, import), customs temporary admission, customs sealing, insurance, transport manifesting, claim settlement, maintenance and repair, loss, etc.

Continue…

October 4, 2020 Informative 1,617

FCL LCL CY CFS CY/CFS CFS/CY CY/CY Definitions

The respective meaning of the terms FCL, LCL, CY and CFS is as follows:

  1. FCL – full container load or full carload
  2. LCL – less than container load, loose container load, less than carload or loose carload
  3. CY – container yard
  4. CFS – container freight station
  5. FCL versus LCL

Continue…

October 2, 2020 Informative 413

What is a Freight Forwarder – The Complete Guide

Freight Forwarders are companies that specialize in all arranging the shipping and logistics of goods from the start to finish of the supply chain. Because the International supply chain involves so many different processes and parties in different countries, freight forwarders specialize in connecting services to streamline freight movements around the world. Freight forwarding companies are experts that have industry experience and understanding of all of the complex transport and logistics arrangements involved in global trade. They will act on the behalf of shippers to arrange services ranging from export documentation, international seafreight charges, customs clearance procedures, import duties/taxes, port handling fees, local trucking and marine insurance.

Continue…

October 2, 2020 Informative 371

Incoterms 2020 DAP

International Commercial Terms, also known as Incoterms, are updated every 10 years. In 2020, new rules for international commercial transactions will come into force, specifying the obligations and costs incurred by sellers and buyers. These terms are divided into several groups. D group includes a DAP rule, which stands for Delivered at Place.

Continue…

September 30, 2020 Informative 944

Incoterms® 2020 Explained – The Complete Guide

Incoterms® 2020 Explained, how they will affect global trade.

The International Chamber of Commerce have published new Incoterms® 2020 that have come into effect from the 1st of January 2020.  The ICC originally published Incoterms® in 1936 and have continually made updates to reflect the changes to the Global Trade environment.  It’s important that all parties involved in trade clearly understand the changes and how they apply to global supply chains.

Continue…