Airlines are hiking air freight rates “significantly” as demand remains strong, and it could grow further. Yesterday, Lufthansa Cargo announced that its net cargo rates in western Europe would rise between 5% and 10% from October 1, and even higher in other regions.In a note to customers, it said: “The demand in the airfreight industry has increased … Continue reading Freight rates on the rise as demand remains strong
As venture capital and tech whizzes pile into the realm of logistics, shipping, and the supply chain, it can be hard to keep track and make sense of all the various ways technology can help shippers become more efficient and cut costs. This infographic breaks down key types of shipping and logistics tech and their … Continue reading How tech helps shippers manage supply chains (INFOGRAPHIC)
With the Asia-Europe contract renewal negotiating season fast approaching, Drewry is advising shippers to rethink their procurement strategy or risk hefty price hikes and service failures. “Rapid consolidation in the supplier base, changes in supplier behaviour, huge reductions in vessel orders and new developments in tender technology will bring real change and uncertainty to the … Continue reading Shippers need to review their game plan ahead of new contract talks
Industry 4.0 “in its scale, scope and complexity will be a transformation unlike anything humankind has experienced before”. The logistics industry hasn’t traditionally been at the forefront of IT innovation, despite the fact that as a sector, it has huge potential for benefiting from the application of advanced technology. As CEO of a company … Continue reading What does Industry 4.0 mean for the future of logistics?
Here's a handy guide to Incoterms, a set of international rules for the interpretation of the most commonly used trade terms. Applying Incoterms to a sale and purchase contracts makes global trade easier and helps partners in different countries understand one another. When global companies enter into contracts to buy and sell goods they are … Continue reading A buyer’s guide to Incoterms
First things first – What is demurrage? The basic definition of demurrage is simple – a fee leveraged on cargo that stays at a terminal too long. Port officials (as well as railroad and airport authorities) all have the ability to enforce demurrage charges. But this definition is deceptively straightforward. In practice, it can be difficult … Continue reading Shipping Demurrage and Detention Charges Explained
If you’ve been in transportation or logistics for any length of time, you already know that nothing stays the same for long. Recent less than truckload (LTL) rates and capacity levels have been below the historical levels we saw from 2005-2010. But that’s about to change — and it’s already started. Most general rate increases (GRIs) happened … Continue reading LTL Rates: Why they Are Changing And What To Expect!
In a global supply chain, timing and visibility are critical. So is selecting the best freight forwarder. Vito Losurdo, vice president of global airfreight services at UPS, offers the following advice for picking the best airfreight forwarder for your business. 1. Look for a broad portfolio. Partner with an established forwarder that provides a comprehensive portfolio … Continue reading 10 tips to pick the right Airfreight Forwarder
In this era of omni-channel fulfillment, supply chain visibility is more important than ever. Yet many shippers are still in the dark when it comes to visibility to a significant portion of their supply chain cost: their inbound freight spend. Many inbound shipments are supplier-controlled with prepaid terms in which suppliers are adding in the … Continue reading Optimizing Inbound Freight Beyond the Shipment Level
Getting a grip on the art of negotiating your ocean shipping rates is an important part of your job and the company’s bottom line. Whichever form these negotiations take - either as a direct negotiation, an RFQ or an indirect negotiation - here are some tactics that will help you excel in your freight rate negotiation. Drop … Continue reading How To Excel In Your Freight Rate Negotiation