The surge in demand resulting from the US-China trade agreement brings potential risks to the supply chain. While the decline in idle ship rates indicates a recovery in capacity, shipping companies may face significant challenges including reduced quotas, difficulties in booking, and rising costs, which have a considerable economic impact on end consumers.
Non-Vessel Operating Common Carriers (NVOCCs) play a crucial role in international ocean freight, acting as a bridge between shippers and actual carriers. Freight forwarders are responsible for the entire transportation process through signing transport contracts and issuing bills of lading. To operate as an NVOCC, specific conditions must be met, and a business registration certificate must be obtained. However, not all certified freight forwarders offer superior services or pricing; shippers should focus on selecting partners that best meet their needs.
In international logistics, the accuracy of vessel names is crucial. Recently, a freight forwarder found that while the vessel names in the service order and export information matched, there were discrepancies in the port of departure. Upon consultation, the agent advised that operations for customs declaration and port entry should use the correct vessel name to prevent issues in transportation and customs.
On May 15, CBP updated the terms regarding reverse tariffs under IEEPA, stating that tariff eligibility is determined by the final loading date of the shipping vessel. Goods loaded after the deadline will no longer qualify for duty exemption or the 10% reverse tariff, increasing the burden on importers. This change necessitates that importers promptly adjust their declarations and strategies to address the challenges posed by the new policy.
The General Office of the Ministry of Transport has established clear capacity standards for self-owned vessels of companies engaged in direct river-sea transportation to promote green development in water transport and improve efficiency. Companies solely involved in direct river-sea transportation must adhere to capacity standards similar to those of inland waterway transport companies, while those participating in other waterway operations are required to meet higher standard demands.
Non-Vessel Operating Common Carriers (NVOCC) play a crucial role in international freight by signing transport contracts with shippers, despite not owning transportation means directly. They collaborate with actual carriers to ensure smooth cargo transportation. To become an NVOCC, one must meet certain conditions and obtain relevant operating qualifications, but this does not necessarily mean their services are superior to other freight forwarders. The key is to correctly select a cost-effective freight forwarder.
Ping An Property & Casualty Insurance has signed a cooperation agreement with the Standard P&I Club to launch a comprehensive package for ocean-going vessel insurance, enhancing shipping security capabilities. This strategic partnership aims to provide the shipping industry with comprehensive risk protection by enriching product offerings and improving service quality.
COV (Change of Vessel Fee) is a common charge in maritime freight forwarding, typically around 200 RMB per instance. This fee applies in cases where changes to the vessel are required due to customer reasons, helping to prevent empty cargo holds during voyages. Understanding the background and implications of change of vessel fees can assist customers in making more efficient arrangements for cargo transport and avoid unnecessary costs.
Consolidated shipment users often face missing vessel information after customs clearance when tracking their bills of lading. Current query functions don't provide vessel status for other bills of lading on the same ship, increasing tracking difficulty. It is recommended that the platform optimize its functionality by adding vessel information display. Users should also strengthen communication with relevant parties to ensure smooth cargo transportation. This enhancement will improve transparency and efficiency in consolidated shipment tracking.
Freight carriers play an essential role in goods transportation, categorized into Vessel Operating Common Carriers (VOCC) and Non-Vessel Operating Common Carriers (NVOCC). Understanding the differences and advantages of both types helps businesses optimize logistics management, reduce costs, and improve delivery efficiency.
