What a difference a year can make! This has been an interesting year for the ocean shipping industry. Ocean carriers were mostly profitable at the end of 2017, but that trend eroded quickly in the first half of 2018. And, with fewer carriers now in business—a result of past consolidations—carriers are finally focusing first on profitability instead of on ensuring vessels are full. This smart focus continued to improve the carrier’s financials towards the latter end of 2018. Will this trend continue into 2019 and beyond? Or, yet again, is this just a temporary recovery, as the trend has been since 2008?
Succeeding in global shipping can be difficult; you need to navigate transportation options, customs compliance, and ever-changing industry practices. In order to help you remain compliant, keep costs down, ensure efficiency, and stay on top of new trends and technologies, we’ve created this guide to help you conquer all of your global shipping challenges. Here’s what you need to do to be successful in the market.
How United States – Mexico – Canada Agreement (USMCA) Will Impact North American Cross-Border Shipments
The U.S., Mexico, and Canada released text to modernize the North American Free Trade Agreement (NAFTA) on September 30, 2018. While many news outlets reported on the new agreement—including the fact that all three countries still must ratify the trade agreement, which is likely to occur in 2019—there hasn’t been much information about how the agreement is likely to change for freight. Here are the main differences we see, which should provide significant optimism for those with cross-border shipments.
In a typical year, shipping by air and ocean follows a fairly predictable pattern of peak and slow times. However, this year is different as companies try to get ahead of new tariff implementations in the Transpacific Eastbound (China to U.S.) lane. Many shippers in this lane have ramped up their shipping early, while others are choosing to pay higher spot market rates in their preferred shipping times or waiting to see what will happen next. » Read More
Have you ever played Tetris? If so, you already have some understanding of what it’s like to manage a consolidated shipment. Unlike Tetris, success is more than a blinking screen of lights—it’s building a global freight consolidation strategy that is solid, effective and consistent. As a result, you will save both time and money while operating your supply chain.
What’s Happening in the Transatlantic’s Ocean Shipping Lane | Transportfolio
Certain trends in capacity, rates, and tariff activity have conspired to create an especially dynamic holiday season for ocean shipping in the Transatlantic lane. It’s never too late to understand the forces at work that have created the current market, or to explore ideas that can help insulate your business in periods of market volatility—or anytime.
How General Average Could Ruin Your Ocean Cargo Deliveries | Transportfolio
Do you ever worry about experiencing a general average declaration for your ocean shipments? It’s time to assess what’s at stake and think about how you can minimize your risk. Start by building your knowledge of how general average works, how it can impact your shipments if general average is declared, and how marine cargo insurance can help you sleep like a baby at night.
3 Ideas for Finding Air Capacity in the Transatlantic Lane | Transportfolio
If you have struggled lately to find available air capacity in the Transatlantic lane, you’re not alone. Capacity is hard to find in this lane, and the busiest time of the year for air shipping is just ahead. But there is hope that you can find the capacity you need if you act quickly. First, learn about the market trends that are currently impacting air capacity. Then, use these recommendations to develop a robust Transatlantic air strategy that will serve your business well. » Read More
Everyone is talking about trade and tariffs—and the potential impacts on businesses and countries. But do you feel lost in a sea of jargon as you listen to the talk? People don’t mean to be rude. But as they explain what’s at stake and recommend courses of action, they may take for granted that you can speak what is essentially a foreign language as well as they can. » Read More
Consider this: global sourcing, manufacturing, and sales are advancing rapidly, leaving technology providers in the tough position of playing catch up. Because technology infrastructure differs from region to region, it is challenging (to say the least) for systems to communicate across continents.
Imagine you are at your desk in Houston and you need to determine whether a completed order left the warehouse in China. It’s difficult, right? Now add in the aspect of tracking the shipment’s expected arrival in Hamburg. To get the information you need involves several languages, time zones, software programs, and much more. Even the most expert logistics professionals struggle in those instances. That’s why you need a global shipping strategy with a comprehensive global vendor management program. » Read More