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As technological advances and global developments change the maritime industry, cargo and freight insurance brokers might want to reevaluate their insurer relationships. Maritime risks have moved beyond the peril of rough seas and insuring against hazards is increasingly complex. Changes that are impacting risk management in the maritim
How can you become a high-performing freight forwarder, freight broker, or overall logistic company? Accenture, the global management consulting firm, has published an excellent article titled: “Freight Forwarding and Logistics: What The High Performers Know” The article indicates that using the structure of the three building blocks
We saw a great article published in Logistic Management Magazine based on a study by A.T. Kearney, the global management consulting firm. In this study, the author focuses on identifying the importance of supply risk management in the global supply chain, which could affect a variety of LOGISTIQ’s clients including freight brokers and fre
High through the years of 2011 and 2013, cargo theft, as a result of fictitious pickup, declined by 18% last year, which is good news. The bad news is that the average value per theft increased 36% to $232,924, while most truckers only carry $100,000 worth of freight insurance. To avoid cargo theft and losingread more
Shipping disasters happen all the time. According to the International Transport Workers’ Federation, approximately 2,000 seafarers lose their lives because of what goes on in the open sea. There are a number of working sea vessels that go across the ocean without mishap, but there are some that are not so lucky. This is whyread more
if you are not purchasing marine cargo insurance and you are shipping something from one side of the world to the other, you could be at risk. Did you know that freight forwarders aren’t obligated to carry Marine Cargo Insurance? This means that when you ship something, there may be no financial protection in place.read more
As with any industry, shipping and transportation will come under the challenge to design contracts with partners and clients in a way that legally avoids administrative fines and penalties. In addition to these risks there are country-specific fines affecting the business of international freight forwarding, creating a need for consistentl
If you are an ocean Freight Forwarder or Non-Vessel Operating Common Carrier (NVOCC) handling cargo destined to or from the United States, being licensed and bonded as an Ocean Transportation Intermediary (OTI) is a mandate. OTI Bonds warrant completing all contracts with shippers and carriers. NVOCC and Forwarder compliance with Federa
As a freight forwarder, you regard yourself as a vital middle man. You negotiate all the transportation, paperwork, and customs hurdles to ensure safe seamless transport of cargo from your shipper to his consignee. But as you know all too well, in certain situations you can also feel like you’re the middle man in aread more
If you have product that requires shipping from one destination to another, chances are you need a freight broker (also known as a cargo broker). There are several steps involved in transporting cargo, and without the expertise of a broker it’s easy for important details to go unattended. Here are four ways a freight broker helps your
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