Knowing your Incoterms can help you more reliably project costs and establish your product pricing. Matt Parrott, Deringer’s Director of Transportation, provides insight regarding the differences between DDP (Delivered Duty Paid) and DAP (Delivered at Place). Under DDP, the Buyer is only responsible for unloading. The Seller is responsible for
East Coast port labor negotiations between ILA and USMX are ongoing. These talks are recognized as a bellwether for West Coast’s IWLU/PMA negotiations, despite the West Coast contract expiring first. Deringer’s Mark Hirzel shares a brief timeline of port labor events and shares recommendations for contingency planning in the event
Non-resident importers of record (NRI) are those US importers without a US location. There are a few small hurdles when acting as an NRI — all of which can be overcome. Mark Hirzel shares the surety bond, ultimate US consignee, and importer responsibility requirements.
What do the numbers represent in a harmonized tariff schedule classification? Mark Hirzel explains the Harmonized Tariff Schedule and breaks down the parts of a classification. Using a simple example, a classification number for dairy cattle is broken down by chapter, heading, subheading, and suffix. However, we can’t forget the
Learn our top 3 takeaways from the Journal of Commerce’s recent TPM event. Many shippers want to know what’s next in the ocean transportation market. Could another carrier bankruptcy happen and what would that do to ocean carrier capacity? Demand has influenced the market, but so has the availability of
Did you know that if an imported good is exported and then re-imported, importers may not have to pay duty again? Using the HTS classification 9801.00.10, re-imported foreign goods are duty-free if returned within three years. The big caveat: the goods can’t have been advanced in value or improved in
Find out how reconciliation can help provide duty savings. Some importers do not have certain data elements available at time of entry, so they choose to use reconciliation, which allows them to provide specifics at a later date. To participate, importers must have US Customs and Border Protection’s pre-approval as
Distributing goods closer to your customers/end destination helps increase speed to market. When customers are on both East and West Coasts, this strategy can save transit time and create cost savings. Adhering to major retailers’ routing guides, including their specified delivery times, is a crucial component to supply chain success;
The inherent financial risks associated with international shipping can be minimized by purchasing cargo insurance. As outlined in the Warsaw Act and the Carriage of Goods by Sea Act (COGSA), the limits of liability for air and ocean carriers will not likely cover the value of your goods. Additionally, when
Only 20% of eligible paid duties are refunded. Duty drawback is a regulation that allows for the refund of duty paid on imported goods, which are subsequently exported or destroyed. Unused Merchandise and Manufacturing Drawback are two examples of how duty can be recouped. Certain restrictions and specific recordkeeping requirements
Vessel sharing and ocean carrier alliances are part of today’s ocean shipping landscape. What will this mean for the market volatility we’ve been experiencing? Mark Hirzel reviews which ocean carriers are aligned, and how this may play out in 2017.
What types of ocean shipping containers are available for the myriad of goods imported and exported every day? Mark Hirzel discusses different container sizes and types, from the standard Twenty-foot Equivalent Unit (TEU) to flat racks, reefers, and open tops. Did you know that ocean containers cannot be loaded to
As we start off 2017, we have seen the January 1st General Rate Increase (GRI) stick. This GRI is directly tied to the upcoming Chinese (Lunar) New Year. During this holiday, people originally from the Chinese countryside, who now work in far-off big cities, return to their small home towns.
Recently, the port of LA and GE Transportation announced a pilot project that could help streamline port operations. Maersk Line and APM Terminals will be the first to pilot the project that will increase cargo visibility from two days out to upwards of two weeks out. The increased supply chain
Choosing transportation for a smaller cargo load can be difficult. Mark Hirzel shares some points on when to choose air over ocean, how to calculate the minimums required for each, and when it might be time to take a different approach. “Your transportation solution yesterday may not be the best
Seafarers can spend weeks at sea chaperoning the multitude of goods that arrive via ocean container vessels. The International Seafarers Center of POLB-LA provides important services for seafarers arriving in San Pedro Bay, including a place to rest, food, recreation, transportation, internet access, non-denominational ministry services, and a variety of
The Marine Exchange of Southern California has an important role to play for vessels frequenting the San Pedro Bay ports of Los Angeles and Long Beach. Established over 90 years ago, the Marine Exchange is a non-profit organization responsible for the development and efficient flow of maritime commerce through the
In this week’s (B)logistics, Mark Hirzel shares information about Los Angeles International Airport or LAX. Find out how the airport compares to the ocean port in terms of volume of imports and exports. Surprisingly, LAX handles 44% of exports to the region compared to 15% of ocean bound export cargo.
Following the election, the Trans-Pacific Partnership hangs in the balance. The road to ratifying–or not ratifying–the trade agreement is laid out with specific requirements. If the US does not ratify the agreement, it will not pass for all 12 membership countries. Find out why…