Turkey is a strategically located country that serves as a critical point between Asia and Europe. It is the perfect place to bring together China and Europe by railroad. Turkey has been recognized as a significant player in the Belt & Road Initiative (BRI). The Middle Corridor (The Trans-Caspian International Transport Route (TITR) plays a …
Recently, we have written about lowered rates in Chinese shipyards on ships, as the shipbuilders struggle to stay in business. This time, the Dutch shipyards are going through hard times. Two private shipyard groups from the Netherlands have suffered the biggest losses for many years – Damen and Royal IHC. Damen Damen Shipyard Group owns …
The Belt & Road Initiative (BRI) is considered the most extensive infrastructure and investment project in history. The Chinese initiative of the New Silk Road involves the construction of new and development of existing transport routes from China to Europe and other continents. Therefore, in the past few years, China-Europe connectivity has raised significantly, as …
International trade requires filling out many, sometimes quite complicated paperwork. Various documents are required for customs clearance alone. The commercial invoice is one of them. An importer must ensure that the sender issues this type of invoice. Customs cannot clear imported goods without the commercial invoice. Commercial Invoice (CI) A commercial invoice, CI for short, …
The highly competitive transport market keeps developing rapidly, putting forward more and more interesting options. Shipping goods from the Far East is usually associated with the sea or air freight. However, a new attractive alternative appeared in the last decade, which is fast rail freight. It is now possible to transport goods by train to …
The aircraft industry suffers a huge blow due to COVID-19 and pandemic-related restrictions. Currently, it has to recover from the effects of a ninety-five percent drop in air traffic. Boeing has announced that it formed a new group to help to restore the company’s production and supply chain operations to a pre-pandemic level. Boeing amid …
Customs bond is an agreement relating to a specific transaction between an importer and a customs office. Under U. S. customs regulations, customs bond is a requirement for export to the U.S. A customs bond is a financial guarantee between the guaranteeing company that submits the declaration, the importer, and Customs Border Protection (CBP). The …
The pandemic has brought significant changes in the global shipping industry. The Federal Maritime Commission (FMC) decides to deal with problems and announced that they would create a supply chain innovation team. This will help with the ocean shipping challenges related to the COVID-19 outbreak. What is The Federal Maritime Commission? FMC is an independent …
On March 28, 2020, the first intercontinental train was dispatched from St. Petersburg port to Asia. The cargo will reach the ports in South Korea and Japan within 23 to 32 days, saving up to 34 days in comparison with a traditional ocean route. This is the first eastbound transcontinental train and a strong competitor …
It turns out that the air cargo market has enormous potential. This is primarily due to reduced travel costs in many markets and an increase in the middle class in emerging markets. For this reason, along with the increase in passenger traffic, the global medium-term forecasts of ACI (Airports Council International) also predict an increase …