Table of contents
Topic of the week:
With the Red Sea Crisis causing equipment shortages, extended transit times and unreliable booking schedules, many shippers are moving to air freight in order to transport their goods. Many businesses will be aware of the documentation that is required for sea freight movements, but if this is your first time shipping via air, you may need to brush up on some of the different documentation required. Although documentation can vary depending on the country or goods you are shipping, there are common key documents that you should know about.
If you are opting to ship via air freight you will need an Air Waybill (AWB). This is the main difference between air freight and sea freight documentation. It is essentially the air freight equivalent to a Bill of Lading and acts as a receipt, contract and title document. The rest of the key documents that you will need are similar to those experienced with sea freight shipments serving similar purposes.
A packing list will help when it comes to getting your goods through customs as well as cargo handling. When shipping internationally you will also need a Certificate of Origin, which classifies the source of the goods, where they have been manufactured. A Commercial Invoice is also required, listing and classifying the goods that are being shipped as well as their value and the shipping incoterms. Finally, insurance is highly recommended, and an Insurance Certificate provides evidence that your cargo is covered. This can be set up by your freight forwarder if you are using one.
If you do go through a freight forwarder to handle all of your shipments, you will need to present all of these documents as well as a couple of other documents, depending on your forwarder. Primarily for sea freight, but good to note, is that a booking confirmation ensures that space has been reserved for your shipments, so you know that it will be on its way. This is highly sought after in the current industry climate. If your goods require specific handling instructions or require specific routing, depending on whether they are of high-value or hazardous, you will need to provide your forwarder with a Shipper’s Letter of Instruction (SLI).
Luckily, Pro Carrier can help with any documentation queries that you may have, and if you ship with us, we will handle all documentation including customs entries for you, so your shipping is as easy as possible.
Sea:
- Over the last two weeks China/East Asia to North America West Coast spot rates have decreased by 5% from $8,101 /FEU to $7,628/FEU according to Freightos data.
- China/East Asia to North America East Coast spot rates have risen over the last two weeks, increasing by 19% to $9,824/FEU.
- Global container spot prices have fallen over the last two weeks, and are now sitting at $5,072/FEU, a 2% decrease over the last two weeks and a 251% increase from spot rates this time in 2023 according to the Freightos Baltic Index (FBX)
Air:
- Global Air Freight spot rates currently sit at $2.52, as rates continue to fluctuate according to the Freightos Air Freight Index (FAX)
- Europe to Northern America spot rates currently sit at $1.63 (100-3000kg), says FAX, increasing by 1.2 %
- Europe to Asia, Greater China spot rates currently sit at $1.26(100-3000kg), says FAX, decreasing by 0.78%
That’s all for this week’s update…
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