Problems with “Letters of Credit” and international trade

International trade depends on “Letters of Credit”, or LCs. They finance shipments, but also assure the shipper he gets paid for the cargo sent ... of the oil.” “Mumbai-based Essar Shipping Ports & Logistics Ltd. couldn’t buy equipment used to handle ... fill 100 40-foot cargo containers. Then Burnett got a call from his buyer at Shanghai VIVA Wood [more...]

Date: 2008-10-29 10:29:55
Blog: Sjeltur ...

Blog posts (16) | Videos (1)
 

OFAC Adds Iranian Shipping Line and Vessels to SDN List

The Treasury Department's Office of Foreign Assets Control (OFAC) ... , break-bulk, cargo and containerized shipping. As a result of today's designation freight forwarders and shippers may not charter, book cargo on, or otherwise deal with IRISL and their vessels [more...]

Date: 2008-09-10 21:28:46
Blog: International Trade La...

Revamped 146 for Amerer Air

Announced at the recently held Farnborough Airshow, BAE Systems is set to supply a revamped BAE-146QT or Quiet Trader model aircraft to Austria’s [ ... freight forwarders, express cargo companies, private shippers, integrated parcel carriers as well [more...]

Date: 2008-08-03 16:59:45
Blog: Freightscene.com ...

Baltic Dry Index Falls Another 10.7%, Down Nearly 86% From May

The collapse in the Baltic Dry Index continues. As we have noted before, the inability of cargo shippers to secure letters of credit ( ... . The Baltic Dry Index, a benchmark for global freight costs, plunged 10.7 per cent on the day, to 1,615 [more...]

Date: 2008-10-16 12:55:00
Blog: naked capitalism...

Letters of Credit and Trade Finance Freeze

From Naked Capitalism, another excellent, sobering post ... buyers' letters of credit. For those new to this topic, international trade depends to a large ... is that they assure the shipper that he will be paid for the cargo sent. Without banks using letters [more...]

Date: 2008-10-28 13:53:40
Blog: Dollars & Sense blog | ...

Can TSA Meet Air Cargo Screening Mandate?

Last fall Congress enacted the 9/11 Commission Act of 2007 ... (CCSP), and under it, both shippers and freight forwarders may opt to become Certified Cargo ... and forwarders is that their cargo will likely get onto planes sooner than what ends up getting screened [more...]

Date: 2008-08-06 20:46:42
Blog: Out of Control...

Mayor to Participate in Groundbreaking for KCI Intermodal BusinessCentre

Mayor Mark Funkhouser will join fellow City Council members, ... for airlines, manufacturers, shippers, freight forwarders, big box distribution companies, air cargo-related [more...]

Date: 2008-10-14 14:44:57
Blog: Funk's Front Porch...

What Makes an Effective Custom House Scorecard

By Sam Miller A custom house is an institution that collects levees on imported and exported goods. Usually, this is one of the government agencies ... with shipping, warehousing, freight operators, documentation, cargo handling, and processing. International ... one person or company to save time, effort, and money. All shippers would like to see [more...]

Date: 2008-10-26 13:11:21
Blog: New Business Ideas...

Blackwater Floats Private Navy To Fight Pirates

In September, Somali pirates captured a Ukrainian ship bound for Kenya that had a cargo of 33 T-72 tanks and other military equipment ... Dangerous Waters It's bad news for shippers, but an opportunity for Blackwater Worldwide, the North [more...]

Date: 2008-10-28 07:13:41
Blog: Close Protection Forum ...

Are Marine Highways the Look of the Future?

According to Thomas Barrett, U.S. Deputy Secretary of Transportation, ... companies to make better use of the new routes by helping them find shippers willing to transport ... and into Richmond. This alone would move over 4,000 trucks off the busy Interstate 64 with cargo shifting [more...]

Date: 2008-10-15 01:56:32
Blog: Trucking News » Masslog...

Exporters Guide to World of Exports

AWB: Air Waybill Accessorial Services/Fees: Services provided by an airline in addition to the normal transportation service ... of either the Shipper or Consignee. Agent (IATA): A forwarder, agent or broker who is recognized ... and prepare shipments and to collect charges. See Cargo Sales Agent. Air Freight: The goods [more...]

Date: 2008-07-05 02:26:38
Blog: Article Marketing At It...

Technology Solutions for Air Cargo

The TSA’s air cargo screening regime has gotten much attention lately, including significant time at two recent Congressional hearings ... vendors (such as freight forwarders, indirect air carriers, shippers, etc.) volunteer [more...]

Date: 2008-07-25 18:22:16
Blog: Security Debrief - A Bl...

Fuel surcharge effects

With the price of jet fuel consistently setting record highs, the fuel surcharge levied by airlines for cargo movement continues to climb ... it is legally permitted. On the domestic U.S. front, I’m hearing reports that many freight forwarders ... of fuel and it will have a negative effect on shippers and forwarders alike. Share This [more...]

Date: 2008-05-07 12:59:51
Blog: Third Party Logistics N...

Riot Helmet Shipper Complains about BIS Settlement Agreement

An article in today’s Miami Herald provides more details about the settlement agreement that we previously reported and under which freight forwarder Cargoland Air and Ocean Cargo, Inc. agreed to pay a fine of $36,000 ... : Doral freight forwarder Susana Olmo shipped 210 riot helmets to Venezuela two years ago as a favor [more...]

Date: 2008-09-24 00:34:56
Blog: ExportLawBlog...

Japan shippers mark bumper year but outlook soft

Japan shippers mark bumper year but outlook soft April 25th, 2008 TOKYO, April 25 (Reuters) - Japanese shipping firms NipponYusen KK (9101 ... into gains from robust demandand higher freight rates. The nation’s biggest marine transport firms ... earnings for both itsdry bulkers and container lines but said it expected a recoveryat its air cargo unit [more...]

Date: 2008-04-25 04:29:59
Blog: Finance, Economy-Busine...

Storing prices

Shippers using Jebel Ali Port were in for quite a surprise the past few days when they learned that DP World has jacked prices for container storage ... that decision. The freight companies may look to book cargoes via other ports, but one must bear in mind [more...]

Date: 2008-11-10 13:32:45
Blog: LOG.ae Delivering Quali...

16 Results