Logistics Firms Adapt to Rising Costs Global Disruptions

Logistics Firms Adapt to Rising Costs Global Disruptions

The 36th Annual Logistics Status Report highlights that despite increasing uncertainty in the logistics market due to economic and geopolitical factors, companies are responding to rising costs by diversifying their supply chains and employing data-driven management strategies. Additionally, driving sustainability is a key trend that helps businesses gain a competitive edge in a complex environment.

Shipping Industry Grapples With Rising BAF Fuel Costs

Shipping Industry Grapples With Rising BAF Fuel Costs

BAF (Bunker Adjustment Factor) is a fee established by shipping companies to address fluctuations in fuel prices. By dynamically adjusting this fee, companies can manage cost changes. Combined with the IMO's low-sulfur fuel policy, BAF impacts logistics costs on shipping routes. Flexport has incorporated BAF into its rates to provide clients with a more transparent fee structure and better budget management.

Port Maintenance Fees Drive Up Global Shipping Costs

Port Maintenance Fees Drive Up Global Shipping Costs

The Port Maintenance Fee (HMF) is a charge imposed by U.S. Customs on ocean imports, calculated at 0.125% of the declared value of goods. This fee does not apply if goods are routed through Canada to the U.S. Businesses need to fully understand the implications of this fee and plan their shipping strategies effectively to reduce overall costs and enhance competitiveness.