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What is Integrated Logistics Management? — What is Integrated Logistics Management?

18/01
2022

The logistics industry consists of several key players who ensure the smooth flow of raw materials, components, and finished goods.

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Key Performance Indicators (KPI) in Logistics — Key Performance Indicators (KPI) in Logistics

18/01
2022

How do corporate executives and company managers decide upon their organization’s achievements? An informed and well-balanced decision-making is crucial for each company as it moves towards its strategic, operational, and financial goals. Without measuring its progress and comparing it with those of similar organizations, any organization would lose its focus and soon lose out to competitors.

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What is a Logistics Cycle? — What is a Logistics Cycle?

21/12
2021

What is a logistics cycle? We know that logistics is all about the efficient coordination of activities involved in the procurement and redistribution of goods and materials.

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What are Dedicated Freight Corridors (DFC)? — What are Dedicated Freight Corridors (DFC)?

17/12
2021

India has for long not performed to its potential in the global economy and international trade, with its share of international trade being grossly incommensurate with its population and abundance of natural resources.

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What is Freight Prepaid in Shipping? — What is Freight Prepaid in Shipping?

11/12
2021

Freight prepaid is a general shipping term used when the seller or the shipper of goods pays the freight charges to the shipping line for transporting the goods to the buyer’s specified location.

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What Does Freight All Kinds (FAK) in Shipping Means? — What Does Freight All Kinds (FAK) in Shipping Means?

08/12
2021

Freight All Kind (FAK) is a classification used by consolidators, freight forwarders, logistics service providers, etc. to quote rates to their customers for Less-than Truck Load (LTL) shipments.

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What are Container Carrier Alliances? — What are Container Carrier Alliances?

08/12
2021

Over the last year, there has been a lot of focus on Container Carriers and Alliances.

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What is Sustainable Logistics? — What is Sustainable Logistics?

23/11
2021

Pollution is the biggest scourge on earth. In man’s race for power, the unchecked and reckless use of natural resources has left our planet tottering on the brink of an ecological disaster.

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RELATED NEWS

Seaport container handling fees to be adjusted from mid-February 2024 — Seaport container handling fees to be adjusted from mid-February 2024

30/01
2024

The Ministry of Transport has recently issued a circular on seaport services fees, including cargo loading and unloading fees.

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Hanoi modernises logistics industry — Hanoi modernises logistics industry

30/01
2024

Currently, the system of warehouses and logistics yards in Hanoi is still small, lacking connections and types of specific goods storage such as cool and cold storage, or document warehouse

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CMA CGM to apply new congestion surcharge in Cameroon — CMA CGM to apply new congestion surcharge in Cameroon

24/01
2024

In response to the existing congestion situation in Kribi, Cameroon, CMA CGM has announced the implementation of a Port Congestion Surcharge (PCS).

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Los Angeles maintains dominance in US despite container decline — Los Angeles maintains dominance in US despite container decline

19/01
2024

In the last month of the previous year, the Port of Los Angeles demonstrated robust performance by processing 747,335 TEUs, marking a 2.5% increase compared to December 2022.

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Hapag-Lloyd’s departure shakes-up THE Alliance — Hapag-Lloyd’s departure shakes-up THE Alliance

19/01
2024

Shipping pundits are expecting liner alliances to be redrawn, after Maersk Line and Hapag-Lloyd announced on 17 January that they will form Gemini Cooperation in February 2025.

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Port of Los Angeles to handle 85,000 metric tons of Chilean fruit imports during winter season — Port of Los Angeles to handle 85,000 metric tons of Chilean fruit imports during winter season

19/01
2024

This week, the Port of Los Angeles welcomed the initial vessel of Chilean fruit for the year, carrying over 5,300 pallets loaded with grapes and stone fruit.

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Maersk and Hapag-Lloyd to form new alliance — Maersk and Hapag-Lloyd to form new alliance

18/01
2024

Two container giants, Denmark's Maersk and Germany's Hapag-Lloyd have signed an agreement for a new long-term operational collaboration.

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CIF Cost, Insurance and Freight

“Cost, Insurance and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. ‘The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIF the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.”

CFR Cost and Freight

“Cost and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.

FOB Free On Board

“Free On Board” means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment on wards.

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