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expertise in the world of ocean freight.
Are you still trying to figure out what the difference between BAF and CAF surcharges is? We’re here to help. Bunker Adjustment Factor (BAF) and Currency Adjustment Factor (CAF) surcharges both affect ocean freight rates, but for two entirely different reasons. What is the Difference Between CAF and BAF? CAF deals with rate adjustments due […]
The Currency Adjustment Factor is a surcharge that carriers charge NVOCCs, freight forwarders or shippers as a way to offset any current or potential changes to currency fluctuations that may change freight rates. In short, they are a way for carriers to hedge their risks against exchange rates. Just like BAF, these surcharges could have […]
Bunker adjustment factor, bunker surcharges, or simply BAF, are extra charges enacted by carriers on their rates to counteract increases in fuel prices. Oil Prices and Bunker Adjustment Factor Surcharges These surcharges safeguard carriers against one of the most volatile factors in the shipping industry: oil prices. When oil prices increase, carriers need to evaluate […]
With the shipping industry digitally transforming, it’s time that you thought about digitalizing your marketing for lead generation. In the past, networks built through personal relationships were enough to sustain freight forwarders, but not anymore. Freight forwarders need to find new ways to reach customers and create new channels of acquisition. With digitalized companies like […]
Digital transformation is reinvigorating the shipping industry through new technological applications to streamline operations, customer experiences, and efficiency. In shipping, digital platforms, real-time tracking data, big data, IoT, blockchain, and online 3PL integrations are leading the way to disrupt and redefine this legacy industry. But why is the digitalization of freight only happening now? With […]
