With prices skyrocketing across the board, who doesn’t want to see a dip in costs? Luckily, it looks like ocean freight rates might start to decline in the early part of 2023. Without a doubt, demand for shipping space has reached an all-time high but at this time, consumer demand has started to subside which […]
Are you wondering what the difference is between air and ocean freight? If you are an importer or exporter, then you’ll need to pay attention to how each varies. Each one has its own set of pros and cons. Choosing between air or ocean freight will depend predominately on what you are shipping: size, weight, […]
A new guidance has been released by Customs and Border Protection (CBP) to assist with preparing for the execution of the Uyghur Forced Labor Prevention Act (UFLPA) rebuttable presumption, which is an assumption made by a court that is taken to be true unless someone contests it. Taking effect on June 21, the UFLPA was […]
Decision intelligence has become a new term being bantered about the supply chain. Decision intelligence is viewed as an evolving field that focuses on simple decisions. Things like shifting a load to a new or different carrier if the price exceeds the preset amount or moving production from one facility to another if the factory […]
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 […]
