Back-to-school season is in full swing, bringing with it an early start of the traditional “peak shipping season.” However, that term is creating more concern than excitement this year due to ongoing constraints in the supply chain across all modes and most areas worldwide.
Global supply chains are incredibly complex networks that require involvement by various professionals who must execute different tasks. Two of the most important parties involved in an international shipment are the freight forwarder and the customs broker.
In a recent report released by the International Air Transport Association (IATA), air cargo volumes continued to skyrocket almost 10 percent in June, revealing that the first half of 2021 rivals the historic cargo volumes of 2017.
On July 8, 2021, the Commodity Classification Standards Board (CCSB) issued Supplement 2 to NMF 100-AU. The National Motor Freight Classification (NMFC ) class code changes will go into effect on August 7, 2021.
Although the bill of lading (BOL) plays a crucial role in the international shipping process alongside the commercial invoice and packing list, its importance is not always understood. Beyond reviewing Incoterms and terms of sale, the bill of lading is essential to include in discussions between the buyer and the seller.
As inbound container quantities, load volumes and fuel prices have continuously risen throughout the first half of 2021, freight rates and demand across all transportation modes remain high. Although forecasting continues to be unpredictable due to the significant downturn in 2020 skewing year-over-year comparisons, market trends indicate that little to no relief is on the horizon amidst constricted industry capacity and a depleted driver pool.
Please be advised that the Commodity Classification Standards Board (CCSB) has released a Notice of Disposition outlining the proposed amendments considered at the public meeting on June 8, 2021. Dispositions resulting in amendments to the National Motor Freight Classification© (NMFC©) will be published in a supplement to the NMFC unless reconsideration is granted.
Using a transportation management system (TMS) as a centralized repository for logistics activities can produce many benefits for shippers. By partnering with a dedicated team of experts to assist with logistics management, shippers can save time and money due to increased control, improved transparency and streamlined processes.
Regardless of how much industry experience you have, determining freight classification and staying in line with the National Motor Freight Traffic Association’s (NMFTA) rules can be frustrating, especially if you get it wrong.