Author: Dimitri Konstantinidis

Incoterms: An Overview

Throughout the years, as international commerce was progressing, the need for common codes of conduct and contract created the Incoterms rules. Since 1923, the International Chamber of Commerce (ICC) has been publishing these rules, creating the framework in which a deal is executed, and determining the obligations, costs and risks between the seller and the buyer. Ever since then, one has to search real hard to find a commercial invoice between two parties that doesn’t have those distinct three letter codes that determine who is responsible for payment and risk throughout the cargo’s journey from origin to destination. The...

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Northeast Passage: Climate Change Reveals a New Shipping Route

Global warming is rapidly changing the world map as we know it. Even though sea level rises will make coasts and islands disappear from the face of the world, and climate change will have a huge impact on all of our lives, there is also a significant benefit for the shipping industry. According to scientists, 2030 is the year when the percentage of Arctic ice will be so low in the Arctic Ocean, that it will allow the passage of container vessels, connecting Europe with China and Southeast Asia. This route is called the Northwest Passage, and so far...

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Why Me? What Triggers a Customs Inspection?

Even today, it remains a mystery – how import shipments are selected to be inspected by U.S. CBP (Customs and Border Protection,) as the force has never disclosed criteria. There is a classified risk factor number assigned to all shipments that are about to enter the U.S. border, but we do not know the formula used to determine the risk factors leading to inspection. The law is clear in saying it is at CBP’s absolute discretion to select one shipment over another without providing any reasoning. However, CBP does provide a notification to your customs broker that they will be advising a “manifest...

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Reefer Cargo – the Last Resort for Substantial Profit in Shipping

As all major carriers are trying to increase dry cargo rates, they find comfort in the fact that reefer cargo continues to be high-paying cargo, and even though the operational costs are high, reefer cargo remains very profitable. But what does one need to know in order to participate in this complex business? Here are some simple rules for all the maritime hopefuls out there, which can help you and your team better understand some aspects of the reefer world: Rule #1: Reefer containers are pre-tripped before being delivered to the customer for stuffing, meaning that they should have been...

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2017 Scrapbook

A new year has just begun in the shipping industry and maritime hopefuls predict that it’s going to be the year of the carrier. Since ocean freight levels reached historic lows last year due to overcapacity in the industry , especially in the Asia – Europe trade carries are starting to think twice about their strategies. in that respect “The big blue” has announced that 8 panamax vessels are going to be scrapped in 2017. Estimated transfer dates of the vessels to the ship recycling yards are between mid-December 2016 and mid-March 2017. The reasons behind this decision are...

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