Post Date: December 29, 2011
Unless you work for an ocean container line, there seems to be a lot of confusion regarding bunker fuel costs and how they play into ocean container costs and BAF (Bunker Adjustment Factor – fuel surcharge for container lines). This is especially compounded when folks look at the headlines in regards to crude oil prices [...]
Post Date: October 14, 2008
Good news is that the trade deficit narrowed but it looks like U.S. exports incredible run may be coming to an end in the near future as global demand cools and the U.S. dollar gains in strength. Then again, import demand is down as well, so it’s possible that the trade deficit will continue to [...]
Post Date: January 10, 2006
Drawback (USA) A refund of duty and taxes which may be obtained upon the exportation or destruction of certain articles under certain conditions.
Post Date: December 30, 2005
Harmonized Tariff Schedule of the United States (HTSUS) An organized listing of goods and their duty rates which is used as the basis for classifying imported products and identifying the rates of duty to be charged on them. It is based on the international Harmonized System Convention.
Post Date: December 23, 2005
Reverse Logistics The process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal.
Post Date: December 21, 2005
Demurrage 1. In international transportation, a charge for the failure to remove cargo from a terminal within the allowed free time. Also, a charge for failure to load or unload a ship within the allowed period. 2. (USA) In domestic transportation, a penalty charge against users for use of carriers’ equipment beyond the allowed free [...]
Post Date: December 13, 2005
Bonded Warehouse (USA) An approved private warehouse used for the storage of goods until duties or taxes are paid and the goods are properly released by Customs. Bonds must be posted by the warehouse proprietor and by the importer to indemnify the government if the goods are released improperly.