The freight and logistics market in Vietnam is steadily expanding and in the next five years, it could reach a CAGR of over 5.5%. As one of the upcoming nerve centers of international manufacturing, this country is the biggest beneficiary of the US-China trade conflict. In 2019 Vietnam had the largest yearly flow of foreign…
Freight Forwarding Industry: With its headquarter in Geneva, Switzerland, FIATA is currently one of the most reputed organizations in the Freight Forwarding Industry, becoming a member of which offers a set of unique advantages for logistics companies. FIATA – or the International Federation of Freight Forwarders Associations is the largest non-governmental transport association of freight…
The logistics industry has a set of unique terminology that facilitates more effective communication throughout the supply chain. The use of these terms help to save a lot of time. In the logistics industry, Incoterms or International Commercial Terms have globally recognized rules that ease the buying and selling process. It does so by providing…
Air freight shipping accounts for more than 6 trillion USD worth of shipments every year which makes up around 35% of global trade by value. Customers these days expect high-speed deliveries which is one factor why shipping companies opt for air freight to ship their cargo around the globe within the shortest possible span of…
Although the trend of online shopping is nothing new, it was the pandemic which undoubtedly expedited the boom of the e-commerce industry which in turn has directly influenced the companies providing services in the transportation and logistics sector. The e-commerce companies are increasingly outsourcing logistics to fulfill their orders effectively and on time. The rising…
Last year, the cargo ship Felicity Ace carrying Porsches, Lamborghinis, and Bentleys caught fire and sank. Volkswagen confirmed that the losses which amounted to over $300 million would be covered by cargo insurance. This is not an isolated incident. Even just a month back, the container ship Pacific Express lost 10 containers overboard due to…
The transportation and logistics sector went on a bumpy ride in the last couple of years because of the rising rates, overstretched capacity, equipment and labour shortage, rising fuel prices and several other factors. This year can offer some respite when it comes to the freight rates because of the falling demand for goods. Nevertheless,…
Fleet management has become one of the most popular digital trends for companies of all sizes. Starting from small and mid-sized retailers with a couple of vans to big freight forwarding companies with thousands of trucks making national and international deliveries, the use of fleet management systems has become imperative when it comes to maximizing…
Although the winter peak shipping season has arrived, the air freight industry is facing a reduced demand because of several factors without any possibility of a quick turnaround. International demand for air freight measured in cargo tonne-kilometres fell by 10.6% compared to last year. In today’s post, we have provided you with a brief report…
Digitization has greatly influenced every sector of the container shipping industry and naturally, the major seaports around the world have started automating their operations and transforming themselves into smart ports. Simply put, smart ports apply digital technology to boost their competitiveness and integrate with contemporary tech platforms. Smart ports are helping to facilitate a global…