The current conflict in Ukraine has triggered multiple airspace closures around the globe, which has forced carriers to alter routes and tighten capacity. As a result, many air carriers are not readily accepting general cargo bookings and are reserving space for higher tier services such as Express or Premium for cargo movement. Furthermore, due to a ...
The world was already facing significant supply chain challenges prior to the Russian invasion of Ukraine. Since the invasion, many of existing challenges have increased in severity and other new challenges have been created.The challenge that has been making the most noise in the news is price of oil. Russia is the 3rd largest producer of oil behind th ...
Every 5 years the Harmonized System (HS) is updated and as of January 1st the world transitioned from HS 2017 to the current HS 2022. This means that tariffs and duty code percentages may have changed for your products. We’ll be reviewing the changes, but first a little background of the Harmonized System. What Is the Harmonized System? The Internatio ...
A Bill of Lading and a Telex Release are vital to shipping and they are two items that you absolutely must know in the field of logistics. An Original Bill of Lading is a paper bill of lading that is issued to a customer. A Telex Release is an electronic release that is given in return for a surrendered bill of lading.The Bill of LadingThe Bill of Ladin ...
Oil prices are spiking to a multi-year high of $80 per barrel and carriers are re-instituting bunker surcharges to compensate for the effects of higher fuel prices. The increase means that, for an Asia-North Europe round trip, carriers would incur an additional cost of $500,000. This is combined with container lines being locked into long-term charters ...
By definition a Free Trade Agreement (FTA) is a treaty between two or more countries with the aim to facilitate trade and eliminate trade barriers. Under this FTA, goods can be purchased and sold across international borders with little to no government tariffs, quotas, subsidies which help to create an open and competitive international marketplace.Acc ...
