Unexpected expenses can cripple a business’s profitability, and those associated with international shipping are a prime example. Learning how to avoid detention and demurrage charges is a baseline capability for any business involved in global trade. As ocean freight rates naturally rise over time, especially when disruptions occur, you cannot afford any extra fees on top of them.
If you are a small or medium-sized business (SMB) who is buying from an overseas supplier, there's a good chance you're buying under either Free On Board (FOB) or Ex Works (EXW) terms of sale – the two most commonly used purchase terms in global trade. In this article, we'll explore the distinctions between EXW vs FOB and how they can positively or negatively impact how you manage logistics.
Container shipping costs can be highly volatile, based on geopolitical and economic conditions globally. Costs can easily and unexpectedly creep upwards, eroding your profit. Shippers, especially small to mid-sized businesses (SMBs), need to use every tool at their disposal to cut ocean shipping expenses. These sea freight costs are a logical place to start when you consider that 90% of the world’s goods move via container shipping. This article reviews some practical ways to cut costs and avoid overpaying for ocean freight.
In the world of cross-border commerce, it’s important to note that different parties have clearly defined roles in order to expedite the process and manage the many important details. This ensures that there is as little friction as possible holding up an international shipment. The role of the exporter of record is certainly key in the shipping and customs process, so we’ll take some time to break it down.
While there are abundant opportunities for business growth right here in America, some of the fastest growing markets are overseas. Capitalizing on these opportunities requires knowledge of export shipping. This article covers the basics of shipping your U.S.-made products overseas – efficiently and in full compliance with customs agency requirements.
