International Shipping & Freight Forwarding Blog

Exporting a Business & Life to the Balkans

Posted by Reid Malinbaum on Fri, Feb 17, 2017 @ 04:10 PM

Exporting a business and life to the other side of the world with one stop:

Montenegro is a small, mountainous state in south-west Balkans. It borders Croatia, Bosnia and Herzegovina, Serbia, Kosovo, Albania, and the Adriatic Sea. Over a year ago, our shipper had us ship 20’ & 40’ containers containing household goods & the content of a private clinic to Montenegro.

Today, he was completing his move a year later, as we assisted in closing out possibly the most significant move professionally and personally, that this person would ever make.

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Tags: Shipping Exports, U.S. Exports

What is a Letter of Credit, and How Could It Anchor My Overseas Shipment?

Posted by Reid Malinbaum on Thu, Mar 24, 2016 @ 09:30 AM

Don't let a misfired "letter of credit" Keep you from delivering the goods

A recent client of ours was shipping truck parts and large tractor tires to Djibouti, East Africa. They had a letter of credit (LOC) that they showed to my international freight forwarding company after a freight quote was requested & after a firm booking was already in place with a carrier.

After thoroughly reviewing the conditions of the LOC we ran into a rather big problem - it didn't really agree with the freight quote we had already provided or the client's intentions for their shipment.

You see, they thought the LOC is as good as money in their pockets, but they did not take into account it undermining the outcome of their payment & the shipment altogether.

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Tags: Overseas Shipping, Freight Forwarding, Shipping Exports

How Sellers Can Leverage a Letter of Credit for their Freight Shipping

Posted by Reid Malinbaum on Wed, Jan 06, 2016 @ 05:30 AM

Supplementing your global freight management strategy with letters of credit can be challenging but worthwhile.

Whether shipping an import from China, an auto export to Dubai, or machinery somewhere else internationally, a global management approach using a reliable freight forwarder can be the difference in a successful delivery with minimal twists and turns and, well... everything else. The freight logistics machine is complex, challenging to navigate, and entrenched with restrictions and regulations that must be followed for customs and a variety of other agencies when imports or exports are involved.

Sometimes shipping under a letter of credit is the way to go. For a bank to issue one, they are indicating a validation of their customer (the buyer), which is worth the money when executed correctly. The fees can be paid by the buyer, the seller, or shared between the two. If the selling party successfully prepares the letter of credit correctly & presents it to a bank for negotiation, the funds can be transferred within as few as 10 days of the presentation of all the required documents.

This kind of financial flexibility is actually quite advantageous, and that kind of backing from a bank can open many doors for trading and transportation.

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Tags: International Shipping, Shipping Exports

Ocean Container Shipping through the nation # 1 port

Posted by Reid Malinbaum on Wed, Jul 30, 2014 @ 03:31 PM

Relying on Freight Forwarding, The Right Choice

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Tags: Shipping Exports

FMC Chairman Cordero on Ocean Transport, Shipping Exports

Posted by Annette Leahy on Fri, Jul 26, 2013 @ 10:11 AM

In a recent question & answer session with the Journal of Commerce, newly-appointed Federal Maritime Commission Chairman Mario Cordero discusses how he envisions the FMC possibly overhauling intermediary rules of ocean transportation, promoting shipping exports and assisting port authorities.

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Tags: Shipping Exports

Rate Leverage Weakened for Pacific Cargo Shipping Carriers

Posted by Annette Leahy on Thu, May 30, 2013 @ 10:00 AM

With many of this year’s annual trans-Pacific freight rate contracts yet to be signed for Pacific cargo shipping carriers, U.S. import demand is flat to down year-over-year, and spot rates appear set to resume their downward trek after last week’s increase.

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Tags: Freight Rates, Shipping Exports