BIMCO publishes Electronic Bill of Lading Standard for Bulk Shipping

Pictured: an extract of the BIMCO electronic bill of lading standard for bulk shipping. Graphic credit: underlying text and table – BIMCO with imagery by Shipping Australia

Global shipping, standards and documentation body BIMCO has recently published its electronic Bill of Lading Standard for the bulk shipping sector.

“Our goal is to help accelerate the digitalisation process by establishing common industry standards for electronic bills of lading,” BIMCO said in a formal statement. It added...

https://www.shippingaustralia.com.au/bimco-publishes-electronic-bill-of-lading-standard-for-bulk-shipping/

What’s all the flak over FAK?

LTL costing and pricing have always been arcane exercises. Freight comes in all shapes and sizes. The mix of freight constantly changes. Rates have been determined by an 87-year-old system that assigns a numeric classification–from 50 to 500–to all LTL shipments. There are 18 product classifications to wade through. 

In an attempt to simplify matters, the LTL gods decades ago came up with a classification known as freight all kinds (FAK). An FAK rate was arrived at by calculating the weighted...

https://www.freightwaves.com/news/whats-all-the-flak-over-fak

Carriers make swift decisions with rapid data visibility provided by DDC Sync

Access to live data is more critical now than ever before as carriers navigate an unstable global market that is also pressured by inflation. Waiting for data that may end up containing a human error costs time and money.  For companies with freight to move at a moment’s notice, waiting isn’t an option.

The sooner carrier staff can get data, the quicker and more confidently they can make logistics and route planning decisions. The question becomes: How can carriers receive data instantly, and...

https://www.freightwaves.com/news/carriers-make-swift-decisions-with-rapid-data-visibility-provided-by-ddc-sync

Borderlands: Mexico to require more documentation for shipments traversing the country

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico to require more documentation for shipments traversing the country; dexFreight selected by Hutchison Ports Mexico as software provider; Averitt Express expands Texas operations with new facility; and CBP agents intercept first-in-the-nation insect in Costa Rican shipment.

Mexico to require more documentation for shipments traversing the country

Mexico’s new...

https://www.freightwaves.com/news/mexico-to-require-more-documentation-for-shipments-traversing-the-country

Borderlands: Nuvocargo launches more efficient cross-border billing solution

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Nuvocargo launches more efficient cross-border billing solution; Mexico implements new customs requirement; Freightcar America expands manufacturing plant in Mexico; and Morrison Express Corp. expands in Dallas area.

Nuvocargo launches more efficient cross-border billing solution

Cross-border logistics and shipping between the United States and Mexico can be a lucrative...

https://www.freightwaves.com/news/nuvocargo-launches-more-efficient-cross-border-billing-solution

Court Clarifies Owner Can Collect Freight Under Bill of Lading

  • The English High Court has clarified that the contractual carrier is entitled to collect the freight due under the bill of lading.
  • This can be done even when it provides that freight is payable to a charterer ‘as per the charterparty’.
  • An owner’s access to the bill of lading freight can be a useful tool when faced with a defaulting time charterer.

A recent news article published in the Standard Club by Jamie L Green states that there is a clarity on Owner’s right to collect bill of lading...

https://mfame.guru/court-clarifies-owner-can-collect-freight-under-bill-of-lading/

Shipowner Had Unfettered Right To Collect Freight Under Bills Of Lading Even Whilst On Time Charter: UK High Court

Electronic bill of lading

The High Court has issued an important judgment clarifying that ordinarily an owner is not liable to pay damages to a charterer if it collects freight due under its bills of lading even where no sums are due under a time charterparty.

Background

The case arose in the context of the total loss of the laden capesize Smart in August 2013 whilst entered with North following a grounding at Richards Bay in South Africa.

Owners had issued bills of lading marked that freight was payable “as per charter...

https://www.marineinsight.com/shipping-news/shipowner-had-unfettered-right-to-collect-freight-under-bills-of-lading-even-whilst-on-time-charter-uk-high-court/

MSC Introduces New Electronic Bill Of Lading For Customers Worldwide

MSC container ship representation

MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL. The eBL enables shippers and other key supply chain stakeholders to receive and transmit the bill of lading document electronically, without any change or disruption to day-to-day business operations.

WAVE BL is a...

https://www.marineinsight.com/shipping-news/msc-introduces-new-electronic-bill-of-lading-for-customers-worldwide/

Switch Bill of Lading, Instruments of Fraud & Risks Involved

  • In international trade goods are often bought and sold by traders and they often do not produce the goods.
  • The trader earns on the price differential between his supplier and buyer.
  • Often the trader will want to protect the identity of the supplier / shipper and may ask the carrier to switch bills of lading to another bill of lading which does not name the actual supplier.

A recent news article published in the Maritime Cyprus reveals the risks and instruments of fraud concerning switch bill...

https://mfame.guru/switch-bill-of-lading-instruments-of-fraud-risks-involved/

Commentary: Data sharing offers limited customer service

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

To shine light into the metaphorical black box where transporting items from point A to B takes place, reliable data is necessary to understand what is happening over the network as time passes by. As a physical activity subject to time, and taking place over a defined route, for-hire transportation services are quite measurable. When data is generated, it makes...

https://s29755.pcdn.co/news/commentary-data-sharing-offers-limited-customer-service