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Helpful Articles - Freight

As we head into the second quarter of 2020, many experts are keeping their eyes on the results of the IMO’s low-sulfur mandate, which took effect January 1. Among the factors they’re examining include the supply of low-sulfur diesel fuel, which has the potential to significantly impact ocean freight pricing. Whether you’re just getting up to speed on the low-sulfur mandate—or you’re one of those people keeping the pulse on this issue—we’ve put together a list of the best resources we’ve found online. Use these links to stay on top of this emerging issue. By doing so, you’ll be well-positioned to make the business decisions...

On January 15, 2020, U.S. President Donald Trump signed what the administration is calling “Phase 1” of a trade deal with China. If you’re importing goods from China, this initial deal may offer you some relief from the U.S. tariffs on many Chinese imports that started in 2018. That being said, many of the tariffs put in place by both the U.S. and the Chinese governments will remain. So if you’re currently doing business with China—or considering a new venture that revolves around Chinese imports—these costs will continue to affect your bottom line. Below, we’ll give you a brief rundown of what’s changed and what...

Human beings have been thinking about robots and automation for thousands of years. But how are they using automation and AI in supply chain? In Greek mythology, Hephaestus, the god of fire, created three-legged tables that moved on their own. A bronze man named Talos, who was powered by a single vein of lead, guarded the island of Crete. More recent television shows like Battlestar Galactica and Westworld imagine the consequences of conscious machines. You have only to consider the fact that Saudi Arabia recently extended citizenship to the robot Sophia in order to realize that we’re making significant strides in the world of automation...

For the last few months, our ocean freight specialists at Approved and across our network of DeWitt sister companies have been keeping a close watch on the effects of the International Maritime Organization’s low-sulfur mandate. Now that the January 1 deadline has come and gone, we wanted to share an update on the real-world effects of the IMO’s mandate. We talked to our experts to discover what they’re seeing on a day-to-day basis in the ocean freight markets. But before we dive into their observations, we’ll give you a quick refresher on the issues at play. What Is the IMO 2020 Low-Sulfur Mandate? If you’re...

If you're buying and selling goods, you've likely come in contact with the international commercial terms, also known as the Incoterms® rules. This set of rules, established by the International Chamber of Commerce (ICC) helps buyers and sellers quickly, clearly and easily establish who's responsible for which costs in their transactions.  The ICC recently published an updated set of rules—Incoterms 2020—which offers six key changes to the Incoterms 2010 rules. These rules went into effect as of January 1, 2020. To help you stay current, we'll run you through what's new in Incoterms 2020 so you can continue to negotiate with buyers or sellers like a pro.  But before we dive...

Since 2008, imports from China to the United States are up a staggering 59.7%. In fact, the country has become the U.S.’s largest goods trading partner, with imports of electrical machinery, furniture and bedding, toys and sports equipment and plastics leading the charge. We’ve certainly seen a rise in new companies getting into this market. While many take advantage of the Amazon platform to sell these imported goods, we’ve also seen several companies establish their own websites.   If you’re new to importing goods from China—or you’d like to get in on this nearly $560 billion-dollar market—there are a couple of common mistakes you’ll want to avoid. We’ll show you the six we see most often. By...