Incoterms are known as International Trade Rules. They determine the conditions for the worldwide exchange of goods. It regulates the allocation of responsibility and costs between the buyer and the seller. CIF Incoterms is one of the longest-established formulas. However, Incoterms are updated every ten years, which means that some changes are expected in 2020. …
Incoterms describe the rules of trade. It primarily defines the allocation of all factors, risk, and costs related to the transaction between the seller and the buyer. There will be changes in Incoterms from 2020. FOB Incoterms is one of the most frequently used rules in maritime transport. We describe Incoterms 2020 FOB. Let’s see …
COSCO is a Chinese state-owned company with headquarters in Shanghai. The abbreviation comes from the China Ocean Shipping (Group) Company. The company is also known as COSCO Shipping Corporation Limited or COSCO Shipping Group. It is involved in various business sectors with a particular focus on integrated logistics, maritime transport, financial services as well as …
Sea shipping is the most popular method for transporting goods in the world. New seaports are added, and the existing ones grow and are modernized to accommodate the largest container ships. Below we present the largest ports in Europe. Top ports in Europe 1. The largest port in Europe, Port of Rotterdam, the Netherlands The …
In the case of container transport, the so-called CBM (Cubic Meter, ‘cubic’ in short) unit is used to measure the volume of cargo. Its value is always calculated by using the packaging dimensions given in meters. Calculation of sea freight rate We divide the loads into full-container loads and less than container loads. The difference …
General cargo is a product of the shipping industry, which is also referred to as LCL (Less than Container Load). It is an interesting alternative for small enterprises which do not need to transport the entire container by sea , and also think that air freight is too expensive and unprofitable. Moreover, LCL from China …
CMA CGM is an abbreviation of Compagnie Maritime d”Affrètement. This French company is transporting and shipping containers around the world. The transport group is one of the nine largest ship owners who control 87% of the global fleet. It ranks 4, after Maersk Line, MSC, and COSCO, in the general classification. The company discussed in …
The Belt and Road Initiative, also called the New Silk Road, refers to the world-famous Silk Road, which originated from the Han dynasty. China at that time traded goods with Europe – hence such a reference. Currently, the Chinese are focused on promoting a new idea. Check how they promote the New Silk Road. Joint …
The situation in the international market is continuously changing. In connection with the creation of regional free trade areas, the rules of origin of goods have acquired particular significance. Therefore, the EUR 1 Document plays an important role in international commercial transactions. It confirms the origin of the products, and in special circumstances (embargo or …
Sea transport is one of the most important forms of transport in the modern world. In this matter, ports play a significant role. The Port of Shanghai is located near the city of Shanghai and includes a deep seaport and a river port. This port has also become the busiest port in the world. Besides, …