Friday, September 19, 2008,
11:38 PM
Time now is 2330hrs.
Finally it is friday. I have been checking up on my work loading. For the half month I have yet to on my booking load list. So I started to tally up whatever bookng that I have in hand for the month of Sept.
Before going further, I need to explain two freight terms. Well let me practice what I have learnt in class. In the Incoterm, there is these term that we are most popular use in my type of shipments. The first one will be Cover Insurance Freight (CIF) which is mean shipper will be responsible for Freight charges and may have to purchase insurance for the shipment under the agreement of the contract. I guess forwarders will love this type of booking as there is more revenues involved. The second one is Free On Board (FOB). As the term suggested, the cargo can shipped on board the vessel without the shipper paying for the ocean freight. The nominated Carrier will in turn collect the Ocean Freight from the consignee or buyer at the destination. Then for us at the local, there is really nothing for us to earn except for some stuffing charges.
Back to where left out, I input all the bookings and did some calculation. I have about 55% of FOB shipment on hands. Which mean that booking didn't really fetch alot of revenue. I guess I have to try to fetch more CIF booking from customer as well. Meantime for FOB booking, I cannot let go as well. Because it at least give us the edge that we can keep the volume of cargo moving. I guess I have to work double harder on monday.
i wondered why consignee are so into the FOB term. The most likely reason that I can think of currently is that consignee may not trust shipper in the way that shipper might have take chance to mark up the Ocean freight to their buyer and in term gain more profits. These shipper really got people into trouble lor.
Tomorrow will be CG and service day for me. I have reserved my whole day the event tomorrow. Better go and sleep liao...