With congestion getting worse at the ports, experts were saying that things may not clear up until 2023, but now they’re saying that this is the new norm that people need to get used to. Federal Reserve Chairman Jerome Powell lamented, “It is frustrating to see the bottlenecks and supply chain problems not getting better.” […]
The supply chain acts as a body of water. Throw a rock into the calm water and ripples occur. Any ripple in the supply chain impacts businesses. Currently, supply chain disruptions are at the forefront of every business owner’s mind. Many disruptions happened due to the pandemic such as manufacturers closing, ports shutting down, and […]
The fervent hope for supply chain improvement has been dashed. With shortages of semiconductors, car parts, tech supplies, and other integral items remaining a problem nationwide, many have given up hope that things will improve in the foreseeable future. Supply chain improvements remain stalled. Global Chief Economist of Citi Research Nathan Sheets stated, “Bottom […]
Finalizing changes to License Exemption ACE, The Commerce Department’s Bureau of Industry and Security (BIS) has made corresponding changes in the definition section of the Export Administration Regulations (EAR) due to comments made by the public to an October 21, 2021 interim rule that will take effect May 26th of this year. The final rule […]
May 1st through the 4th, at its 49th annual conference in Tucson, Arizona, the NCBFAA elected a new slate of officers and board members to govern the association from 2022 through 2024. These new officers include the following: Jose Gonzalez – JD Gonzalez LCB – Laredo, TX as President, Victoria Lane – Coppersmith Global […]
FOB stands for “Freight On Board” or “Free On Board”. It’s a term typically used for international shipping. It indicates who is responsible for goods destroyed or damaged during shipping as well as other obligations, costs, and risks during the delivery. History of the Term Before, FOB referred to the transfer of title and […]
On June 29th, Commerce Department Aluminum Import licensing applications will start requiring both fields of ‘country of largest smelt’ and ‘country of second largest smelt’ to be notated. This new requirement will apply to all imports dealing with aluminum, and no fliers may state ‘unknown’ any longer. It must state the country where the aluminum […]
Freight forwarding plays a key role in moving goods between different destinations. Although freight forwarders do not do the shipping themselves, their services are still highly specialized in the shipping process. Firms that handle freight forwarding have an objective to make sure goods are properly shipped and arrive on the date they are supposed to. […]
Do you ever wonder what happens to cargo if an importer does not clear it? In that case, this article is for you. Read on to find the answers that you have been looking for. Importer vs. Consignee: What’s the Difference? To answer the question, you first need to understand what an importer […]
If you want to export goods around the world, you will need to utilize international shipping. There are two ways you can deliver your goods to overseas customers– by air freight or ocean freight. To choose which option is the best for your customers, you’re going to need to consider various factors such as what […]
