The start of every year also signals the onset of Chinese New Year, which—you may be surprised to know—always throws a wrench in supply chains across the globe. Now, you may be wondering: why exactly does this happen?
If there is one thing that can impact any import/export company’s bottom line, it’s the cost of getting their goods across the vast oceans of our big blue planet. So, how do you negotiate ocean freight rates with the best chance of success?
No importer wants to leave their product sitting in a port longer than they have to, especially when doing so can rack up thousands of dollars in demurrage and detention fees.
Have you been shipping products blindly? Shipping without knowing how Incoterms affect your freight creates a risk that could cost you anywhere from a few thousand dollars to completely bankrupting your business.