According to the report released by Armstrong & Associates, a world-renowned consulting company, the top 7 air freight forwarding companies transported approximately 8 million tons of cargo in 2020, 8.6 million tons less than 2019. DHL Global Forwarding (DHL) DHL continues to dominate first place. Like all the other freight forwarding companies, it’s difficult to …
Beyond ride services, food, and package delivery, Uber Technologies, Inc. also has a network that manages its own freight transportation division. By acquiring Transplace with $2.25 billion USD, Uber Freight hopes to grow its revenue with the help of a supply chain technology firm. With Uber Freight using real-time data to generate accurate information and quotes, the help of their new technology with surely propel their competitive advantage to higher levels.
With COVID-19 running rampant throughout the globe, empty high-speed trains have become more common, and the JR Group has taken a massive hit to their profits. By looking into freight transportation as a new channel for revenue, a whole new market of super-speedy delivery services has emerged. JR Groups have begun their financial recovery, but the question is, will this service become their new cash cow? Especially in a post-pandemic era?
The General Manager of Evergreen said: “ The outbreak of COVID-19 in the first half of 2020 caused several countries to block borders and suspend operations in factories, disrupting the original tranquility of the supply chain, and therefore resulted in the global crisis of shortage of cabins and soaring freight rates.” It is believed that …
On July 7th, the vessel Ever Given was finally released by Egyptian officials. After 106 days of being held hostage in the canal’s Great Bitter Lake, the fleet has finally resumed its journey. Details of the final settlement have not been released to the public, but both parties claim that their relationship has not soured, and look forward to their continued collaboration.
Cosco Shipping, the world’s fourth largest container shipping company, has placed a $1.5 billion order for 10 new container ships. Given the current tight shipping situation, it seems to be a necessary move. However, after the pandemic, is there really such an enormous demand for shipping in the market? Carriers this year take the orderbook-to-fleet …
On July 16th, FedEx Express Corp. concluded negotiations with Delhivery to further develop Indian’s international trade. The long-term equity and commercial agreements with the Indian logistics company will have FedEx infusing $100 million USD into Delhivery as well as collaborating to split the Indian markets.
There are many challenges that freight forwarders face when it comes to container shipment tracking, but they all revolve around one central demand: real-time shipment visibility. What is real-time container tracking and what are the benefits of it?
What do you think about when you hear the term “Glass Ceiling”? Discrimination? Social stereotypes? Or the textbook definition of preventing a given demographic from reaching the upper levels of corporate ladders? Well, they’re all correct! However, do you also know there is a serious “Gender Imbalance” in the logistics industry? Only 2% of employees …
Forwarders are beginning to recognize the importance of utilizing technology in order to gain a competitive edge. In the freight forwarding industry, where time is of the essence, a freight forwarding TMS can significantly reduce your daily workloads. It will enable you to eliminate manual processes, reduce human error, and better manage your time.
Even though the pandemic is fading around the globe, the price of shipping has repeatedly broken records and reached the highest peak in months. Can you imagine how dramatic the upsurge is? Let’s dig deeper! Freight rates are more than 200% higher than 2020 According to the Drewry World Container Index, container shipping rates from …
As the peak shipping season rapidly approaches, freight forwarders everywhere are gearing up in preparation. With the global freight forwarding market cap currently valued at $190 billion dollars, the competition is cutthroat. So let’s review who are the top freight forwarders around the world as of 2021.
The pandemic has accelerated years of digital transformation in a matter of months, and it’s far from over. Where can you get the most up-to-date information on freight forwarding trends, technology and insights?
Because of Covid-19, the entire year has been the peak shipping season, resulting in a serious problem, port congestion. What are the existing challenges of port congestion and what can freight forwarders do to overcome these challenges?
Since January 2019, when eAWB became the default contract of carriage for all air cargo shipments on approved trade channels, market penetration has been rapidly expanding. Freight forwarders are adopting eAWB not only because it has become the de facto standard, but also because of the benefits it offers: increased productivity, reduced costs, improved customer service, and many more.
Aside from the cost savings, imagine not having to sort through paperwork and filing cabinets. Recognizing the benefits of electronic bill of lading, industry leaders are more likely to push for this digital transformation. Why not take advantage of the new opportunities created by the use of an electronic bill of lading?
Business plans are like roadmaps: while it’s possible to travel without a roadmap, you are more likely to get misguided along the course of creating your freight forwarding company. Business plans help you to plan ahead, and make sure that you are going in the right direction.
Learning is a career-long process for every freight forwarder. In a complex and fast-paced industry like logistics, it’s even more essential that you keep your knowledge up-to-date — for the sake of your business growth and success. Freight forwarding seminars offer great opportunities for attendees to hear from people at the forefront of the changes on the horizon.
Today, NVOCC & Forwarding businesses, irrespective of their sizes, are using freight forwarding analytics tools to determine how data can be leveraged to spot opportunities and solve crucial problems. As logistics data analytics has become more accessible and user friendly, the process of pulling data and analyzing it to accelerate business growth has never been …
The uncertainty and ever-changing freight rates of 2021 are still causing industries across the world to scramble to find their balance in the ongoing pandemic. Read more to find out how freight forwarders can navigate their way through the current freight market.
At the early stages of founding GoFreight, we invested a lot of extra time talking to freight forwarders to understand their challenges. The early insight we gained was integral to shaping the platform’s development. Much of the feedback centered around two themes, and here are the highlights.
When a freight forwarder opens offices in new locations and countries, it can be a good sign that business is going well. But, the ability to share data and the level of communication it takes to centralize operations can be complicated and is only possible through the use of a modern SaaS platform.
There can be many reasons a forwarder has ended up with technology that doesn’t meet their needs. I offered a few signs you can look for to know if you’ve started down the path with the wrong platform in my last post: Here’s How to Know the Software You Are Using Is Bad for Your Business.
The idea of freight forwarders using technology is not new. The problem is most of them fall short of fulfilling the needs of their users. In this blog post, I talk about several signs that show companies do not have the best technology for their needs early on.
How do you find a freight forwarding software that will make managing your business easier? Where do you find the best software that will meet your needs? How do you know that it will be worth the money that your company spends? Where do you get the time to do all the research? The answer is simple. Peer reviews.
Providing real-time freight visibility is no longer a way to gain a competitive edge for forwarders, rather it is a must. Because of its importance, freight visibility has continued to be one of freight forwarders’ top-priorities for investment. More and more shippers now take freight visibility for granted as it has become a norm in the B2C sector. As shippers have increasingly valued safe and secure transit for their shipments, freight visibility is becoming more critical than ever.
Similar to all supply chain processes, the freight forwarding industry is undergoing great changes due to new technological advancements and inventions. With the influx of new logistics startups, it is understandable how it could be hard to keep up with all these changes. Forwarders may not even know which freight forwarding technology solutions to include in their tech stack.
The logistics industry is experiencing a fast maturation of digital technologies. Logistics providers have to be fast, flexible and adaptable to stay ahead of their competitors and to mitigate risk. By adapting to technology solutions, freight forwarders can mitigate risks in three ways: tracking and relaying shipment status in real-time, accurate rate calculations and utilizing predictive analytics.
Every freight forwarder knows the difficulty for independent SME (small to medium enterprises) to survive in this hyper-competitive industry. Joining a freight forwarding network allows forwarders to compete with bigger international players by combining smaller freight forwarders’ expertise and knowledge as local operators.
Co-loading is the equivalent of ride-sharing for freight. Co-loading freight could be done in house, subcontracted, or a mix to ensure maximum flexibility and efficiency. As consumers and businesses expect faster shipping, greater customizability, and low shipping fees, freight forwarders must find new transportation methods to maximize their already thin profit margins. Read on to learn more!
Pier Pass is used to mitigate port congestion, security and air quality. The organization is also responsible for launching the OffPeak program, imposing the Traffic Mitigation Fee (TMF). TMF is imposed on cargo that were moved out of the ports during weekday daytime. Hence, TMF discouraged truckers from moving their cargo in peak weekday hours. To evolve with the industry’s growth and technological advancement, the organization has developed OffPeak 2.0 which now only imposes a single flat fee.
There are five critical questions that you need to consider before starting a freight forwarding business in order to be successful in the industry. What formal training do you need? Are you suited to this type of business? Who are your potential customers? Who will you be competing against? How to gain a competitive advantage?
Those who have never used freight forwarding ERP software may find it difficult to understand why logistics ERP systems could be extremely beneficial to their freight forwarding businesses. As the freight forwarding industry becomes more globalized, it’s essential to make use of any software or tools that may give your business a competitive advantage.
Freight forwarding industry spans a range of career paths with respective daily tasks and responsibilities. Despite the pandemic’s setbacks and supply chain disruptions, global trade is still going strong due to the advancing technology connecting consumers and companies around the world. A career in freight forwarding has never looked better.
Automated manifest system (AMS) was created to collect shipment information formulated by U.S Customs and Border Protection(CBP) in 2004. It includes departure, arrival, and release information between the carrier, freight forwarder, exporter, and importer. Furthermore, documents should be submitted to the US customs with ISF within 24 hours by freight forwarders. What’s the Difference Between …
After a year like 2020, many freight forwarders are left wondering what the international shipping industry can expect to see in 2021. In order to better manage the chaos of today’s freight marketplace, differentiate yourself from your competitors, and improve your margins, you’ve got to invest in innovative freight forwarding technology that allows you to offer more reliable service.
“How do freight forwarders find shippers?” The question is as old as the freight forwarding industry itself. Prospecting for freight shippers and generating sales are still some of the most challenging tasks that freight forwarders and sales reps can face. Finding new customers for your business and remaining good customer relationships will be one of the top priorities for freight forwarders.
Taking freight forwarding classes may be beneficial in understanding the market, but only freight forwarding software can give you the legs up in competition. Whether you are new to freight forwarding or already an experienced freight forwarder, freight forwarding software is the key factor to stay competitive in the industry from the year 2020 and later on.
What is the correct way to sell freight forwarding services? The freight forwarding community has overly undervalued a process that is very important. The process of sales. In the process of sales, there is an input in which a result will be generated. However, what is the input in freight forwarding? How do we manipulate this input to get the desired result? Lastly, what is the final result?
The freight forwarding industry is standardized by international regulations to counter challenges such as product regulations compliance and proper documentations. Potential solutions to these challenges include integrating modern freight forwarding services.
The supply chain of the world will expand without stop and it’s up to you as a freight forwarder to consider the risk of dealing locally or globally when making decisions on locations to expand your business.
2020 was a rough year for all industries across the world, but particularly the post pandemic logistic industry. This is a year’s wrap up on the uncertainty and fluctuations in demand as well as the value of digitization and its potential to be utilized as a competitive advantage.
Working in a highly competitive and complicated freight forwarding industry may seem daunting and chaotic. However, its intricacies allow for a lot of improvements. The first thing you need to do is keep up with the market and differentiate yourself.
How to Promote Freight Forwarding Business? With the freight forwarding industry digitally transforming, you may be thinking about digitalizing your marketing for lead generation. Before, it may be sustainable for your business to rely only on networks built through personal relationships. However, with the current digitalization trend, this may not be sufficient anymore.
The top four trends in the freight forwarding industry GoFreight and other leaders in the sector, believe will help forwarders proactively plan for what has quickly become the new norm in 2021.
Wondering what is holding you back from achieving maximum ROI? It turns out software that is outdated often hampers you from getting those unrealized gains and savings. Modern freight forwarding systems should be those that are user-friendly and constantly evolving to tailor to your needs.
What are Demurrage Charges? A demurrage charge is a fee initiated by the port to freight forwarders or freight agents for using its containers beyond the specified laytime within the terminal area. As global trade increases, ports charge these fees to incentivize fast and efficient container turnaround times. Note that demurrage charges are different from …
Incoterms stands for international commercial terms. They were developed by the International Chamber of Commerce (ICC) in 1936 and are constantly updated to conform to the changing global trade practices. They provide a common language that people can use when involving in international trades with people from different countries.
The recent cyberattack on CMA CGM once again reminds companies in the logistics industry the importance of cybersecurity. Paying the ransom doesn’t shield confidential data from malicious attacks. Learn more about how GoFreight protect our clients’ data with cloud storage and more.
Freight forwarders are now in a bit of a predicament as we enter the peak shipping season in 2020. Carriers previously canceled a significant number of shipments to mitigate costs, resulting in shortage of containers. We have collected a few tips for forwarders to prepare for the current and future shipping’s prime time.
If you are still using a legacy freight forwarding system, there are some hidden costs you might have encountered and neglected.
Ocean Freight Software is revolutionizing the forwarding industry. Upgrading your current system will help overcome challenges and benefit operations, increasing the overall productivity of your business.
Expedited shipping allows for freight to be delivered at a faster rate. Many companies may use this service including freight forwarders.
E-commerce is growing at a rapid rate and, among the top trends in cross-border e-commerce logistics, the whole traditional international freight forwarding industry is now facing serious price competition and market leader shifting crisis.
With the advancement of IoT, container tracking provides reassurance to the recipients and allows them to plan their operational activities or make contingency plans in advance. This is done by analyzing information transmitted by the sensors attached to the containers. Furthermore, suppliers can also proactively act in response to different situations, such as damage or loss of cargos, according to the information generated by the container tracking system.
The Freight Forwarding industry is currently in a chaotic mess, and most are worried about how the coronavirus epidemic has impacted the supply chain. Any previously planned out freight isn’t moving about as previously announced, the transactional volume is rising, and shippers aren’t capable of forecasting their way onwards. With this crazy moment in time, …
SaaS is a cloud-based service, allowing you to access an application through the internet. Let’s discover what its benefits are, and what it can do for a FF company.
Is it necessary to have freight forwarding insurance? Though the insurance provides liability coverage, claim, and allows you to personally manage it. Yet, it can probably become a red flag that appears when signing up for one.
Wading through all of the different software for freight brokerage companies can be challenging, especially if you aren’t quite sure how to narrow down your options. This decision, however, has the potential to make or break your business. Whether you manage to streamline your freight brokerage operations and improve productivity, or you end up wasting …
Do your know custom clearance and all documents needed to export/import goods? Find out more details about the freight industry and basic supply chain concepts.
The ACE portal can be accessed at the U.S. Customs and Border Protection website. To create an AESDirect filing, follow the steps below.
For businesses in the freight industry, not only there are several professional logistics groups on LinkedIn you can join, but also it’s a great place to promote your company and services.
The advancement of transportation has gradually torn down international boundaries. Different countries are putting more emphasis on border security, and it is important for importers and exporters to complete the necessary security filing processes.
To ensure you select the appropriate freight forwarding software for your business, let’s go over top 12 factors you should consider.
A Bill of Lading is an essential document for both sellers and buyers, which is issued by a carrier or an agent when people ship goods across countries.
It is said that customer experience is the competitive battleground for all kinds of businesses. Delivering excellent customer experience not only allows businesses to differentiate themselves from competitors but also increases customer loyalty and generates more revenue.
The advancement of technology has raised the expectations of consumers and businesses when it comes to transparency of and access to information. When consumers place orders on Uber Eats, they expect to see the real-time status of their orders, allowing them to plan their activities in advance.