Q. What are the differences between a ship company and a freight forwarder?
A. Modern transportation process usually involves various types of carriers and
warehousing. A ship company provides universal services based on fixed logistics.
Alternatively, a freight forwarder offers flexible and individually customized
operations for consignees. Should any damage or incident occur in transit, a forwarder
can also deliver more satisfying assistances. When it comes to shipping cost, since a
freight forwarder passes lower rate from carriers to its customers, there is not too
much of a difference between shipping rates of a freight forwarder and a ship
company.
Q. Why do you need to purchase cargo insurance?
A. We strongly recommend our clients to purchase cargo insurance with general average
coverage. The US$500 per customary freight unit coverage listed on the fine prints of
most standard bill of landing provided by carriers apparently does not cover the real
value of goods. Cargo insurance repays you for actual losses or the “Stated/Declared
Value” of the goods under the terms and conditions of the insurance purchased. Be
sure you have insured the goods for their full value.
Q. What is the rate structure of non-containerization cargo?
A. Shipping rates are usually determined by the following factors:
a. Fixed or non-fixed scheduling.
b. Type and value of cargo.
c. Equipments required for loading and unloading cargo.
d. Trucking routes per weight and height restrictions of highways. Q. What is break-bulk cargo? And how is the shipping rate determined? A. Break-bulk cargo is goods that must be loaded individually, and not in shipping a. Resultant dead space on board after break-bulk cargo is loaded. This would be the b. Equipments required for loading and unloading. Usually renting a container crane c. Trucking routes per weight and height restrictions of highways. d. Packaging requirements and costs. Q. How do consignees keep the balance between choosing lower rates and ensuring cargo safety? A. A cargo transportation involves multiple carriers from the point of origination to its Q. In regard of the U. S. economic sanctions against Iran, what precautions should exporters around
containers. A cargo ship can store and carry a combination of ISO containers and break
bulk at the same time. Shipping cost of break-bulk cargo is determined by the following
factors:
key factor on pricing.
at container wharf is much more cost effective than renting a mobile or float crane.
However, due to its application and technology limitations, a container crane is not
for all types of cargo.
destination. The safety of cargo relies on trustworthy handling on each carrier’s part
throughout the process. At
partners to provide our clients a peace of mind at a reasonable rate. The forwarding
specialists at our
plans that suit your needs.
the world take when processing letter of credits?
A. The U. S. economic sanctions against Iran include a total embargo on dealing with Iran by U. S.
citizens or organizations. To effectively prohibit trade with Iran, the U. S. freezes funds transferred into
or out of the sanctions imposed country through any U. S. bank or its foreign branch regardless where
the bank is situated. These U. S. banks include Citibank, The Bank of New York Mellon, Wachovia,
Wells Fargo, andBank of America.
Special attentions required:
a. All stipulated documents in a letter of credit should avoid words like "Iran" or "Iranian" either in the
names of carriers and ships or in any part of the documents, even when the goods are exported to Iran.
b. In case of the documents consisting of words of "Iran" or "Iranian", be sure to request the documents
be sent to the issuing bank directly by the local advising bank, bypassing any foreign banks in the
middle.
Also be aware if the issuing bank is a Us. S. bank. Avoid document handling or fund transferring
through any American, British, or German banks to prevent confiscation of documents.
U. S. banks are required to report to the OFAC (Office of Foreign Assets Control) any suspect trade
activity with Iran and confiscate trade documents in question. Failure to report is punishable by
revoking bank license. In addition to U. S. banks, financial institutes of other countries will also join the
U. S. economic sanction effort against Iran.
Special note: OFAC (Office of Foreign Assets Control) is an agency of the United States Department
of Treasury with the authority to freeze foreign assets based on U. S. foreign policy and national security
goals.
The agency administers and enforces economic and trade sanctions against targeted foreign states,
organizations, and individuals.
This is a courtesy reminder from Seven Ocean maritime transport Co.Ltd to our customers to
preventpossibleviolation of the U. S. economic sanctions rules.
