Freight Market Update: September 29, 2022
Air and ocean freight markets are evolving. Catch the latest rate changes, market changes and other essential insights.
Freight Market Update: September 15, 2022
Air and ocean freight markets are evolving. Catch the latest rate changes, market changes and other essential insights.
Freight Market Update: August 26, 2022
Catch the latest policy changes, rate changes, and other essential insights for global air and ocean freight shipping.
Harbor Maintenance Fee
The Harbor Maintenance Fee (HMF) is a fee imposed by U.S. Customs and Border Protection (CBP) on freight shipments imported through U.S. ocean ports.
Wharfage
Wharfage is the cost incurred when using a wharf at a port terminal to unload freight cargo.
General Rate Increase
A general rate increase (GRI) is a market rate increase that carriers may adopt over a specific timeframe for all or certain ocean routes.
Emergency Bunker Surcharge
Emergency Bunker Surcharge (EBS) is introduced by ocean carriers to deal with energy price hikes that are beyond expectation.
Cargo Ready Date
A cargo ready date (CRD) is the date when a shipment is expected to be ready for pick up at a specified location.
Single Customs Bond
A single customs bond is a type of one-off entry custom bond that acts as a legal contract to guarantee all import duties, taxes, and fees are paid.
Container Yard Cut-Off Date
A container yard (CY) cut-off date is the last day that the shippers must gate-in their loaded containers before any scheduled departure.
Continuous Customs Bond
The continuous customs bond is similar to a single customs bond but is renewable, and covers multiple entries within one year at different costs.
Customs Disbursement Service Fee
Customs disbursement service fees are charged by freight forwarders and customs brokers to freight customers who do not make duty payments directly to the customs authorities.
Cubic Meters
Cubic meters (cbm) is a volumetric unit used to determine the chargeable weight for shipments.
Transloading
Transloading is a cargo transfer process between various modes of transportation as it proceeds to a final destination.
Deconsolidation
Deconsolidation is the separation of originally consolidated freight such as in the case of LCL shipments that need to be separated before final delivery.