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The term freight recession in the logistics industry indicates more significant economic recessions. Also known as the trucking recession, the freight volume decreased during this period, which signals overcapacity in the industry. The freight industry plays a crucial role in global trade, allowing the movement of goods internationally. This freight recession is a matter of concern for businesses of all sizes. The leading cause of the freight recession is the market's imbalance between the supply and freight demand.  In this article, we will explore the exact definition of freight recession and its causes and effects on the logistics industry. We will delve into some insights to assist you in navigating the challenging times.  What is a freight recession? As the name suggests, a freight recession is a decrease in the volume of goods in the market. This will ultimately lead to the over-availability of freight containers in logistics. The decline in demand for freight ser...

Every business is associated with certain risks and dangers, and so is the shipping industry. Shipping containers are an indispensable part of the shipping industry. They are exposed to salty waters and must survive harsh and changing weather conditions. However, many situations do not have preventive solutions. To cope with those situations, we need strategies for risk management in shipping. What if this risk management in shipping costs more than the investment? This makes balancing the cost and safety in risk management operations essential.  This article will provide you with comprehensive ways through which you can implement efficient, cost-efficient risk management in shipping operations. We will also have a brief overview of the potential risks associated with the shipping industry.  What are the potential risks of shipping?  There are many potential threats to the shipping industry, which can affect its efficiency and costs. To overcome these risks, we need...

In the global logistics and shipping industry, transportation and transshipment are two terms for transferring goods. Although they have some similarities, they are often misinterpreted. Understanding the difference between transportation and transshipment is critical to cargo route optimization and decreasing shipment costs. Knowing when to use each of them is essential, as it will affect your shipment. This article will discuss transportation vs. transshipment in detail and its advantages, which will help you optimize your cargo route.  What is transportation?  Transportation is the process of transferring goods from one place to another using different modes of transportation, such as trucks, ships, airplanes, and trains. Under this process, the journey starts from the port of origin and ends in shipping terms at the discharge port. This process is significant for supply chain management and all businesses. It is included in the secondary sector, greatly contributes ...

Shipping containers, the backbone of global trade, serve many purposes. They are very helpful in disaster relief, as disasters are frequent due to continuous damage and environmental pollution by the human race. When there is a sudden natural occurrence, shipping containers can play a significant role by serving as temporary shelters and relief supply storage solutions for your product. Traditional methods used for disaster relief are expensive and take time to construct. In contrast, shipping containers in disaster relief are cost-effective and accessible.  This article will explore how shipping containers help during difficult times and why they are suitable for disaster relief management. We will also discuss the quick and effective solutions provided by shipping containers in disaster relief.  How can shipping containers be used in disaster relief? Shipping containers are durable, flexible, and designed to withstand challenging weather conditions. Their structural in...

Carrier insurance in the shipping industry protects the carrier’s interest from economic losses and legal implications that may arise while shipping goods. In the transport industry, many stakeholders are involved, be it the shipper, buyer, or carrier. The carrier is the one who carries goods from one place to another. They are available on that mode of transport 24 hours a day. So, there is a possibility that they can be blamed for any type of risk or damage to the goods. So, carrier insurance comes into the picture to protect the carrier’s interest in unexpected incidents like theft or natural disasters.  In this article, we will discuss what carrier insurance is, the aspects covered under it, and the benefits it offers in the shipping industry.  What is carrier insurance?  Carrier insurance protects carriers against damage, theft, or loss of their goods during transportation. This ensures the seamless delivery of goods and simultaneously protects the carrier's an...

To manage the complex international trade structure, shipping companies must adhere to a set of shipping regulations. One of the compliance is the shipping bill. A shipping bill is an application the exporter must fill out while transporting goods from one country to another. They must go through certain legal formalities, licenses, paying duties, taxes, and tariffs to ensure a smooth journey without legal hindrance. As a bill, it helps organizations have a uniform record of the companies' expenses and the products they carry.  In this comprehensive guide to the shipping bill, we will decode all the formalities under it, its types, and its content. We will also discuss the documents that you need for a shipping bill.  What is a shipping bill for exports? A shipping bill, a type of Bill of Lading (BOL), is a foundation document proving that transporting goods from one place to another is legal. The exporter or any other higher representative issues the document and ma...

International shipping is a method of transporting goods, usually by sea routes, not other means of transportation like roadways and airways. This is the most important reason for increasing the value of the goods.  International cargo shipping has been the leading means of transportation for many years.  With the rapid growth of e-commerce, many smaller businesses now require international transportation . This article will teach how international shipping works and what documents are required. How does international shipping work?  The international shipping process typically involves several key steps, outlined as follows:  Order placement: The most crucial part of the shipment procedure is placing the order for domestic or international shipping. Document preparation: Before the goods reach their designated destination, the exporter needs to prepare various documents, including a bill of lading, invoice, and packing list....

The shipping and logistics industry involves many different confusing terms that need to be explained to shippers and people involved in the shipping industry so that they will make the right decisions. Slot charterer and NVOCC operator (Non-Vessel Operating Common Carrier) are two terms related to the shipping industry, which consists of leasing or buying space on a ship for cargo. Both terms have the same context of dealing with the vessel space but have different roles and responsibilities in the shipping industry.  This article is a valuable resource that will help you understand the difference between a slot charterer and an NVOCC operator. We will explore their roles, responsibilities, and exact meaning in the shipping and logistics industry, providing you with essential knowledge for your shipping endeavors.  What is a slot charterer?  Slot chartering is a deal where some slots are rented for shipping cargo. A slot can hold a 20-foot container. These types of...

  The IMDG code is the International Maritime Dangerous Goods Code and consists of rules and regulations for safely transporting dangerous goods through the sea. These codes aim to prevent harm to human life, prevent water pollution, and manage the easy and secure movement of hazardous goods across the ocean while maintaining container transport safety.  This article will delve into the classifications under the IMDG code and their specifications to make you aware of the preventions and shipping regulations you can follow while shipping some dangerous cargo.  What does IMDG classification mean? International Maritime Organisation (ISO) has produced this IMDG code. 1965, it was recommended as a proposal; in 2002, the 17th session adopted this code and claimed a special status under SOLAS.  In addition, there are some more points that you need to know about IMDG code for shipping containers :  Chapter VII of the International Convention for the Safety of Life at S...