Undeniably, the shipping industry is the lifeblood of global trade. It is responsible for connecting nations and creating a stable network of commerce that fuels different economies. However it can be a minefield. There’s a lot to know when transporting goods across borders and around the world.
In the book Ninety Percent of Everything, author Rose George claims that 90 percent of everything people buy arrives via ship. True enough, the global maritime trade volume in 2016 reached almost 10.3 billion metric tons, around 200 million metric tons more than that of the previous year. The figures are expected to grow as globalisation continues to open doors of opportunities to both exporters and importers.
There are two main peak seasons in the shipping year; September to November for imported goods, and February to April for exports. Many businesses take advantage of the increase in sales during these periods, but too few anticipate how the sudden spike in activity can affect their shipments.
Whether you’re in the manufacturing, retail or wholesale industry, freight charges are often one of the key costs of operating a business. As the price of shipping goods continues to rise due to constantly changing economic factors such as fuel costs and labour, businesses are looking for ways to keep their expenses under control.
Recent studies indicate that digitisation currently plays a big role in the freight forwarding industry. Most if not all of traditional forwarders today have automated their processes to some extent. While this is a necessity in today’s digital world, this innovation has also largely been influenced by next-generation forwarders who apply convenience-driven technologies.