Freight Forwarding

Commodity trade finance fraud and losses, along with trade finance digitization, have emerged as common themes in trade finance recently.

Since the inception of UCP 600, trade finance professionals, in particular, the letter of credit community, have been discussing the need for and consequences of modifications and exclusions to the rules in commercial LCs issued under UCP 600.

Eighteen months into the COVID-19 pandemic and shipping bottlenecks are challenging companies to meet demand. The global outlook is uncertain, however, that does not mean doom and gloom, making way for a new thought process.

Though you may be familiar with the terms demurrage and detention in the context of the container business, this article will be focusing on the process of laytime and demurrage in those cases where the vessel is chartered to move oil, chemicals, or dry bulk.

Global supply chains have been and continue to be deeply impacted by the changes that have taken place in the last 12 months. From the Suez canal debacle to the current shortage of HGV drivers in the UK, it is fair to say that the industry is, currently, facing significant challenges.

Our editor, Deepesh Patel sat down with Zencargo’s Sales Director, Sam Greenhalgh to discuss what changes need to take place to make the shipping industry more attractive to young professionals.

The need for trade digitization has never been more prevalent than it is today, especially with pandemic-induced restrictions emphasizing the inefficiency of paper-based trade. Our Editor, Deepesh Patel sat down with Contour’s CEO and Chief Product Officer, as well as TradeLens’ Head of Strategy and Operations, to discuss how fintech can come together to partner to solve these problems.

The impact of the March 2021 incident of the container ship M.V. Ever Given with around 18,300 containers onboard running aground in the Suez Canal has generated international attention and its consequences will continue to unravel for years to come.

TFG heard from Punit Oza, Executive Director at the Singapore Chamber of Maritime Arbitration, who talked about the main pillars that support a transforming organisation in the commercial shipping and freight sector.

COVID-19 puts international trade to a halt following the closure of the Ningbo-Zhoushan port in China and causing a global microchip shortage. There are other unanticipated issues to account for, such as the Suez Canal blockage.

The District Export Council of San Diego and Imperial Valley (SDIDEC) has sponsored the first workspace for ICC eRules guidelines for digital trade transactions.

Has digital trade finally arrived with the ICC eRules guidelines? John Dunlop explains how this might be true.

Trade between Moscow and the EU increases by 2% year-on-year, CDC provides USD 50 million trade finance facility to bring liquidity to trade finance in Africa, FMC creates a program to review detention and demurrage practices, UKEF backs major offshore wind farms and ARRC formally recommends Term SOFR.

Bill Paul, one of the most recommended Logistics Recruiter on LinkedIn, discussed the future of jobs in the Freight Forwarding industry.

Closing a deal between an unknown buyer and seller is difficult. Add to this the cross-border element and the many different agents on the way, and trade suddenly gets complicated.