What is Freight Prepaid in Shipping?
Freight prepaid is a general shipping term used when the seller or the shipper of goods pays the freight charges to the shipping line for transporting the goods to the buyer’s specified location. This term is very closely connected to ‘Free on Board (FOB) Destination, Freight Prepaid’ which means that the shipper pays all freight charges on the cargo until it is delivered to the customer’s premises. In this case, the ownership and...
What Does Freight All Kinds (FAK) in Shipping Means?
Freight All Kind (FAK) is a classification used by consolidators, freight forwarders, logistics service providers, etc. to quote rates to their customers for Less-than Truck Load (LTL) shipments. It relates mainly to customers who ship different types of cargo in small quantities, in one lot, that may not necessarily be a Full Truck Load (FTL). To understand the FAK better, let us first see what the HS is all about. While exporting or...
What are Container Carrier Alliances?
Over the last year, there has been a lot of focus on Container Carriers and Alliances. Whilst Alliances have been a feature of the Container Shipping industry for over two decades now, the current overheated freight rate scenario and congestion woes afflicting ports globally have put the spotlight firmly on Carrier Alliances, with the US Government even issuing an executive order in July 2021, looking askance at the dominance of...
Kuwait: Commercial Vessels Banned Entry For Transporting Goods In & Out Of Israel
Kuwait has introduced a decree that prohibits commercial vessels carrying commodities from and to Israel from the country’s territorial waters. Rana Al-Faris, the Minister of State for Communications and Information Technology and Minister of Public Works has declared this ban yesterday. The ban is imposed on vessels coming from ports to unload part of the cargo in Kuwait’s ports whenever they are transporting goods mentioned in the...
