A GRI (General Rate Increase) is an amount which ocean freight carriers increase tariff rates applied to already existing base ocean freight rates. Cargo demand has seen steady growth since the holiday season last year. In an attempt to continue to improve their financial situation and after years dealing with a difficult shipping environment, the […]
To recover from congestion, ocean carriers seek double GRI’s On Wednesday, shipping lines in the eastbound pacific announced their intentions to raise ocean freight rates $600 per FEU (forty-foot equivalent unit) on March 9th, and also announced an additional $600 per FEU anticipated on April 9th. 15 of the largest container lines in the trades […]
Verified Gross Mass (VGM) Requirements The international treaty known as the Safety of Life at Sea (SOLAS) affects all shipment by water effective July 1, 2016. SOLAS requires the filing of a Verified Gross Mass or weight (VGM) as a condition of loading your cargo on board the vessel. No VGM on file. No movement […]
South Korea’s largest container operator, Hanjin Shipping Co. filed for bankruptcy protection on Wednesday. The filing was one day after the company’s creditors decided to discontinue financial assistance of more than $896 million. The courts will decide whether Hanjin will be able to survive after restructuring, or if the company will be liquidated. Hanjin is […]
The Hanjin Shipping bankruptcy continues to have worldwide impacts with legal battles over cost and equipment liabilities related to the bankruptcy playing out in the courts. But there is a glimmer of good news on the horizon. Hanjin filed for court protection in August 2016 after its creditors, led by Korea Development Bank (KDB), decided […]
A broad range of retailers, manufacturers, truckers and other business groups in the United States are appealing to the Federal Maritime Commission to set new policy preventing terminal operators and ocean carriers from charging unfair fees when uncontrollable incidents such as storms and strikes keep cargo from being picked up from ports on time. The […]
There are various parts and parties to an ocean bill of lading or air waybill for an international shipment. The parties involved and listed on the bill of lading or air waybill are the shipper, consignee, and the notify party. The Notify Party is the name, address, and contact information of the person or company […]
According to the business directory definition, a freight forwarder is a firm that specializes in organizing and arranging storage and shipping of merchandise on behalf of its shipper. For companies who rely on shipping for inventory and to transport their products to end customers, finding a freight forwarder is an extremely important part for your […]
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PNG Logistics is a full service Third Party Logistics (3PL) company that has helped hundreds of clients to lower their freight costs and increase shipping efficiencies. Our service is highly personalized and every shipment we handle is managed by an experienced logistics expert with our clients' best interest in mind.
In addition to enhanced service and peace of mind, PNG clients typically enjoy freight cost savings from 10% to 40% compared to their current transportation and shipping costs.
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