Incoterms

 

By Riaan de Lange 10 Aug 2016

The International Chamber of Commerce (ICC) announced that July 2016 marked the 80th anniversary of the flagship Incoterms® rules, and released six facts on its “indispensable international commercial trade terms”.
80 Years
One of ICC's very first initiatives as the world business organisation was to facilitate international trade. The many differences in practices and legal interpretations between traders around the globe necessitated a common set of guidelines. As a response, the ICC Incoterms® rules were officially established in 1936 and have been evolving ever since.
8 Editions
Since commercial practices constantly develop with time, it is essential that the ICC Incoterms® rules follow suit. After the initial introduction, there have been seven revisions to the terms reflecting contemporary methods of carrying goods, implementing contracts of sale, clearing goods for export and import and using documents as evidence in order to secure the rights of the entitled persons to receive the goods from carriers at agreed destinations. The most recent edition is Incoterms® 2010 with an update to the rules anticipated for 2020.
11 Trade terms
ICC Incoterms® rules are each composed of a three letter acronym. They are designed to explain a specific set of responsibilities of the buyer and seller in a contract for the sale of goods, relating to transport and delivery. Today, the Incoterms 2010® rules comprise eleven trade terms: EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid to), CIP (Carriage and Insurance Paid to), DAT (Delivered at Terminal), DAP (Delivered at Place), DDP (Delivered Duty Paid), FAS (Free alongside Ship), FOB (Free on Board), CFR (Cost and Freight) and CIF (Cost, Insurance and Freight).
31 Translations
ICC Incoterms® rules have always been intended for both international and domestic use. That is why it was important for ICC to translate the terms into multiple languages. From Dutch to Macedonian, 31 versions are available today to help ensure proper use and interpretation.
140+ Countries
The first study of the ICC Incoterms® rules was limited to a scope of just thirteen countries. Now, the commercial trade terms are sold in over 140 countries. This number continues to increase every year.
1 Official creator
Since its inception in 1919, ICC's mission has been to promote international trade and investment. Constituting a defined global language for trading across borders, ICC Incoterms® rules truly foster this undertaking.
As the originator and developer of the Incoterms® rules, ICC protects the name "Incoterms" and the Incoterms®2010 logo as trademarks to help the trading community identify official and authentic ICC products and services relating to the Incoterms® rules.

 

Source: ftwOnline.co.za

 

DURBAN - Shipping companies will in future have to adhere to strict international weight verification regulations for containers in an effort to prevent accidents.

As of 1 July, cargo container forwarders will be subjected to stringent gross mass verification, which will be administered by the South African Maritime Safety Authority (Samsa), after noncompliance by some shippers.

The industry was notified of the requirement in June last year. Samsa said those who flouted the regulation would be liable for fines and face criminal conviction, which comes with imprisonment.

"Samsa has no resources to authorise or approve every ship in the country. We have opted to delegate some of our authority to a third party who would then act on our behalf to authorise shippers," said Kirsty Goodwin, an occupational health and safety executive at the authority.

Samsa has appointed General Marine Surveyors to oversee the verification process.

Goodwin told export industry members that there would be no extension on the regulation.

Shipping experts met in Durban on Tuesday to air concerns arising from the requirement, which is in line with International Maritime Organisation regulations.

The industry has been riddled with container weight misdeclarations that resulted in vessels tipping and getting damaged, posing a threat to lives.

Zeph Ndlovu, president of the Durban Chamber of Commerce and Industry and Transnet GM of operations in KwaZulu-Natal, said SA’s contribution to saving lives at sea was important.

SA is a member nation and signatory to the Maritime International Organisation.

Ndlovu said there had been a number of accidents on international waters. "We want to lend a hand in making sure that the global trade ... is beyond reproach as far as safety is concerned.

"We had to have this discussion and make sure that members are sensitised about readiness before the actual implementation date of 1 July 2016," said Ndlovu.

The regulation will apply to all export containers and cargo manufactured in SA and destined for the export market.

Packing houses, shippers and road transporters have to comply, as do ports, which have to align their systems with the new requirements on container weight.

Ndlovu said the majority of shippers had been adhering to the weight laws, but 5%-10% in the industry were not complying.

Sash Naidoo of Durban South Cold Storage, who packs citrus for export, said the new requirement would have cost implications. In order to comply, companies had no choice but to include a weighbridge in their facilities, he said.
Source: Business Day

Safmarine container carrier

 

International container carrier focused on trade to and from Africa, West and Central Asia, Safmarine will move its head office to Cape Town, South Africa, thereby returning to its roots. Established in South Africa in 1946, Safmarine was acquired by Maersk Line in 1999. Safmarine's head office has been located in Copenhagen since 2012.

“Safmarine has a clear strategy and a strong outlook. And Africa is core to the Safmarine strategy. Therefore, it is an obvious choice to move Safmarine’s head office to Cape Town in South Africa,” says Vincent Clerc, chief commercial officer of Maersk Line.

A need for strong local coordination

Safmarine’s CEO, David Williams, will not only relocate with the head office but also take over the position as Maersk Line’s regional manager for Africa (sub-Saharan).

“We have two strong brands in Africa: Safmarine and Maersk Line. In order for them to continue to be successful, we need to strengthen the local coordination. We believe this can best happen under one leadership team based in the region,” says Clerc.

Maersk Line expects the move to be completed by the end of 2016. However, David Williams will take over as regional manager for Africa on 1 August 2016, and will take over from Ivan Heesom-Green.

“We are committed to Africa. We want to continue to support the development of its emerging economies. And in doing so open markets and provide opportunities for current and new customers,” Clerc concludes.

Source: www.bizcommunity.com

 

South african coal

 

Lower commodity prices have led to a fall in output of coal and iron-ore shipments from SA mines, according to online sources.

Transnet CEO, Siyabonga Gama, was quoted by Bloomberg news agency as saying that Transnet had not matched the railing of its peak volumes from last year which stood at 76.4 million metric tons of coal to the Richards Bay Coal Terminal on the east coast and 60 million tons of iron-ore to Saldanha port on the west coast.

Iron ore prices have fallen by 46% in the past two years, while the price of coal at Richards Bay on South Africa’s Indian Ocean coast has dropped by 36%.

Cathay Pacific Cargo and Lufthansa Cargo co-operation

 

A co-operation agreement has just been signed between Cathay Pacific Airways Cargo and Europe’s largest air cargo carrier, Lufthansa Cargo.

According to a statement from Simon Large, cargo director at CP, and Peter Gerber, CEO and chairman of Lufthansa Cargo, the joint network will cover more than 140 direct flights per week between Hong Kong and 13 European destinations.

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