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What are they? Why are they needed in the import process? There are four main documents commonly used in the international shipping of cargo. What are they and why are they needed?
Whether you are a first time importer, or a well-seasoned company, the current shipping crisis has started a cascade effect in escalating costs. These extra fees are being absorbed throughout the supply chain, but the mode feeling the heaviest burden is Ocean Transportation. Traditionally, ocean transport and shipping lines are the most dependable, cost effective means of moving large quantities of goods throughout the world. The rise of economies in Asia has been built on manufacturing and delivering goods for an insatiable North American market. The shipping lines and supply chains already under strain due to volume and lack of infrastructure capable of handling the rising demand have started to buckle under the extra weight of a global pandemic (not to mention certain boats getting stuck in certain canals). This has caused stakeholders from steamship lines, logistics companies, and carriers to significantly raise rates and to create new auxiliary charges. The party responsible for those additional transport costs depends entirely on the Incoterm® that were decided upon at time of creating the purchase order.
With the holidays quickly approaching, it is not surprising to see surging demand driving up freight rates in ocean and air modes of transportation due to capacity constraints. This is now snowballing into all other modes with chassis shortages, and available warehouse space nowhere to be found. Many shippers and freight managers are getting inventive with shipping lanes, temporarily importing goods into Canada or the US where they have secured vessel capacity, or switching modes to get their hands on whatever space they can find, no matter the cost. With giant buyers such as HomeDepot and Walmart buying out entire vessels just to get their store shelves filled, what’s a smaller shipper to do? In this blog, we will look at some insider tips and recommendations on how to navigate this shipping crisis.
It is hard to believe that if the global container crisis wasn’t enough to contend with, now buyers are being laden with skyrocketing air freight rates due to the unprecedented demand and limited supply. In the last week alone, rates have jumped 10%, with higher percentages expected on lanes originating from China and Europe.
Today business and trade is a global affair. The competitive field has expanded and more and more companies seek out business relationships that will give them an edge over their competitors. Supply chain relationships can make or break your business.
It’s not a worldwide container shortage that is causing ocean rates to increase. It’s the uneven distribution of containers. There are enough containers, just not in the places where they are needed.
Have you heard? There are big changes for commercial goods being exported from Canada! Since June 30, 2020, the Canada Border Services Agency (CBSA) eliminated the paper option or B13A for submitting your export declarations. Now exporters can only submit electronically using the following two options: The Canadian Export Reporting System (CERS) and The G7 Electronic Data Interchange Export Reporting. Unsure of which is the right method for you? The CBSA recommends that you use the CERS.