‘Permacrisis’ was crowned word of the year by the editors of the Collins English Dictionary at the end of 2022, defined as “an extended period of instability and insecurity”. It seems an appropriate term to describe the state of global trade, finance, and supply chains as we enter 2023.
As 2023 unfolds, shippers are experiencing signs of relief from the supply chain upheaval over the past few years. U.S. container imports in December continued to close in on 2019 volumes, port delays continued to improve, the maritime capacity crunch has eased, and ocean shipping rates have approached pre-pandemic levels.
Certainty has been in short supply in the world of shipping in recent years. Shippers, manufacturers, and carriers have all had to adapt to rapidly changing circumstances, from the lingering impacts of COVID to geopolitical conflicts, from stocking trends to industrial action.
I remember reading a quote which has stuck in my mind ever since – “Sharing among an entire ecosystem of innovative partners is a crucial step for modernisation.”
Surecomp today announced that it is partnering with WAVE BL, a blockchain-based digital platform, to further enhance digital trade finance workflows by enabling access to electronic bills of lading in… read more →
This article was originally published on December 19 2022 by Watson Farley & Williams LLP. TFG would like to thank Kimarie Cheang and Chengxi Tan for their contribution.
With so many of our daily goods coming from abroad, Incoterms play a much more significant role in our lives than most of us realise. To help clarify the subject, Trade Finance Global (TFG) spoke with Holly Jade O’Leary, co-founder and director of Alinea Customs.
Business-to-business (B2B) transport and delivery practices are governed by Incoterms®, published by the International Chamber of Commerce (ICC). A typical contract for export/import is based on the Incoterms® rules and the contracts that surround it.
Since the UCP 600’s adoption in 2007, concern has persisted over what the Article 35 rule actually requires of an LC issuer if documents get lost in transit between banks.
In the November edition of Trade Finance Talks will explore these topics but also how, in an increasingly digital world, the payments industry has found itself evolving at a rapid pace.
UK Export Finance (UKEF) has launched a new product to help support small- and medium-sized enterprises (SMEs) through challenging market conditions. Attending the UK Trade & Export Finance Forum 2022,… read more →
Given the complexity of maritime transport, Annie Kovacevic sat down with Grant Hunter, director of standards, innovation, and research at BIMCO, to learn more about hot topics in the industry.
Incoterms® are the international terms which determine business-to-business practice in the transport and delivery of goods published by the International Chamber of Commerce (ICC). They set out the important fundamentals of the Incoterms® rules, and the contracts surrounding a typical contract of sale for export/import.
The air cargo market continues to unwind as the global economy slows and consumers tighten their belts in regard to services. The industry is slowly moving into its typical peak… read more →
Enigio AB signed an agreement on 31 October, 2022, with the International Federation of Freight Forwarders Associations (FIATA) to add its trace:original to the solutions supporting the electronic bill of… read more →