Maritime Industry Grapples With Rising Demurrage Costs

Maritime Industry Grapples With Rising Demurrage Costs

This article analyzes the meaning of "On Demurrage" in voyage charters and its relationship with demurrage charges. Demurrage fees are costs incurred by the charterer for exceeding the loading and unloading period specified in the contract, usually calculated on a daily basis. The contract outlines the conditions for entering a state of demurrage, which varies in terminology across different countries. Additionally, it explores the distinctions between demurrage in voyage charters and container transport.

07/28/2025 Logistics Encyclopedia
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New Global Guidelines Clarify Customs Valuation of Franchise Fees

New Global Guidelines Clarify Customs Valuation of Franchise Fees

The World Customs Organization issued a new advisory opinion clarifying that franchise fees should not be included in the customs valuation of imported goods under specific circumstances. Originating from a Mexican case and confirmed by the Technical Committee on Customs Valuation, this opinion aims to reduce import costs for businesses and enhance customs valuation transparency. Companies should study the opinion, assess their franchise agreements, and communicate with customs authorities to ensure valuation compliance and capitalize on trade opportunities. This helps in correctly determining the dutiable value and avoiding potential penalties.

01/26/2026 Customs Knowledge
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Major Cargo Airlines Highlighted for Global Freight Forwarders

Major Cargo Airlines Highlighted for Global Freight Forwarders

This article introduces several major international airlines, including American Airlines, Lufthansa, Ukraine International Airlines, EgyptAir, SriLankan Airlines, Swiss International Air Lines, and Cathay Pacific/Dragonair. It analyzes their flight characteristics, advantages, and freight services, assisting freight forwarders in selecting suitable airlines to meet the diverse needs of different clients.

07/28/2025 Airlines
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AFG Bank Gabon Simplifies SWIFT Transfers With Secure Guide

AFG Bank Gabon Simplifies SWIFT Transfers With Secure Guide

This article provides a detailed explanation of AFG Bank Gabon's SWIFT code, BICIGALXXXX, and its usage. It emphasizes the importance of verifying the branch-specific SWIFT code and offers examples of how to fill out international money transfer information. Furthermore, it provides tips on saving money during international transfers, aiming to help readers conduct international remittances safely and efficiently. It focuses on practical advice for users dealing with international transactions involving AFG Bank.

09/02/2025 International Settlement
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Ecobank Gabon Explains SWIFT Code Use for Transfers

Ecobank Gabon Explains SWIFT Code Use for Transfers

This article provides a detailed overview of Ecobank Gabon's SWIFT code, ECOCGALIXXX, and its application in international money transfers. It emphasizes the importance of verifying remittance details to prevent errors and offers practical tips for avoiding mistakes. Furthermore, the article covers the necessary information for receiving international remittances and addresses common issues and solutions related to international money transfers. The aim is to guide readers through the process and ensure successful international transactions.

09/02/2025 International Settlement
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Lucknow Airport Boosts Regional Economy with Global Connectivity

Lucknow Airport Boosts Regional Economy with Global Connectivity

Chaudhary Charan Singh International Airport in Lucknow is the thirteenth busiest airport in India, located in the city of Lucknow, Uttar Pradesh. It provides essential domestic and international air services. Built in 1986, it was upgraded to an international airport in 2012. The airport features two terminals: Terminal 1 serves international flights while Terminal 2 caters to domestic ones. Its transportation network connects multiple major cities, contributing to the economic development of the region.

07/29/2025 Logistics
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Fedex Weighs Speed Vs Cost in Global Shipping

Fedex Weighs Speed Vs Cost in Global Shipping

This article provides an in-depth analysis of the differences between FedEx IE (International Economy) and IP (International Priority) services, focusing on comparing time efficiency, price, and service priority. It aims to help readers make informed decisions between speed and cost based on their specific needs, thereby optimizing their international shipping solutions. The comparison allows for a better understanding of which service best suits individual requirements, ensuring efficient and cost-effective international deliveries.

12/30/2025 Logistics Encyclopedia
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