Freight Forwarding and Services
Services” any kind relating to the carriage(performed by single mode or multi-means services of any kind relating to the carriage (performed by single mode or multimodal transport means), consolidation, storage, handling, packing or distribution of goods as well as ancillary and advisory services in connection therewith, including but not limited to Customs and fiscal matters, declaring the goods for official purposes, procuring insurance of the goods and collecting or procuring payment or documents relating to the goods.
Freight Forwarding Services also include logistical services with modern information and communication technology in connection with the carriage, handling or storage of the goods, and the de facto total supply chain management. These services can be tailored to meet the flexible application of the services provided.
A forwarder is the agent of its customer and procures carriage on its behalf.
A forwarder cannot be an agent if it:
Issues a bill of lading in its own name.
Carries goods on its own vehicle.
Warehouses goods in its own warehouse.
What is Ocean Freight?
Ocean Freight Transport is simply the transport of goods from one place to another by a ship / vessel.
Characteristics of Ocean Freight
Ocean Freight originated at the Egyptian coastal lines around the year 3,200 BC, and since then, the maritime transportation has always been the dominant support of global trade.
Sea transport is slow. Ships carrying raw material (tramp) move at around 13-14 knots, while container ships move at 18-25 knots.
A knot is equivalent to 1.86 km / hour.
Sea transport is cheap because it can take advantage of economies of scale. That is large ships can reduce the cost per unit carried.
Sea transport connects land, countries & continents that are separated by water.
It represents 71% of the freight shipped globally, and 96% by weight.