Shipping Terms FOB CIF

Shipping Terms: CIF vs. FOB

The International Chamber of Commerce coined INCOTERMS in 1936, which was revised in 2010. Incoterms are simply international commerce shipping terms. There are 13 incoterms and each one represents an agreement that governs the shipping responsibilities of sellers and buyers within international trade. This system was put in place so as to facilitate orderly international trade through contract models that cross …

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Rail Routes China Silk Road

China & Europe Rail Routes

New rail routes between China and Europe In 2016  over 500,000 tonnes of freight went by train between China and Europe. Over 311 tonnes to Europe and over 200 tonnes from Europe to China. In 2013 it was next to nothing. The new rail routes are faster than the routes by sea. According to CSIS one company alone reported cargo value …

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U.S. Steel Tariff?

How are the new tariffs Trump put on steel affecting the U.S. sourcing  business? “The tariffs are likely to keep driving up U.S. domestic metal prices, which have already been on the rise since the beginning of the fourth quarter of 2017. According to a report in Reuters, U.S. steel mills typically adjust prices once a year. In 2018, they’ve …

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Why Source CNC Machined Parts from China?

A while ago, a new customer approached us for a quote on a product from China that consisted of several CNC machined parts; including an anodized aluminum housing, brass threaded insert, o-ring, and several fasteners. Some of the dimensions had tight tolerances, within .001 – .002. The product required assembly and custom packaging in China. He had received a domestic …

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Sourcing Products from China

The products that are a best fit for sourcing from China are those with more labor. For example, buying a low value, low labor cost item like a cardboard box alone won’t work. You’d be better off buying a cardboard box from a domestic supplier. The higher the labor cost and value of the product, the more competitive the prices …

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Professional China Sourcing Agents

Professional China Sourcing agents have spent years traveling to China, learned the business culture in China, and, most importantly, built solid relationships. The Chinese call these influential relationships guanxi, and they’re critical to getting business done in China. In the process of looking for a factory to manufacture  in China, many forget that business is a two way street. Just …

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China – Procurement vs. Sourcing

Although some people use the terms “procurement” and “sourcing” interchangeably, they actually refer to different aspects of the same part of your business. Procurement and sourcing are two distinct approaches to buying the components, raw materials, supplies, and services a company requires to run effectively. In today’s global economy, many companies are turning to China for their procurement and sourcing …

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China has become Germany’s Biggest Trading Partner

China has become Germany’s number one trading partner last year, the USA number two. Analysts have pointed out that trading relations between Germany and China has steadily increased by an average of 14.2 percent annually, doubling nearly every five years. The European Union and China are two of the biggest traders in the world. China is now the EU’s second-biggest …

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Finding a Chinese Manufacturer

Many companies want to get their products made in China. According to World Trade Organization (WTO) data, the United States imports nearly $500 billion per year worth of Chinese-produced goods, far more than from any other country. Imports and exports between Germany and China are at their peak. In 2016, Chinese companies were the most important trading partners of German …

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What to Look For in a Chinese Manufacturing Company

Do want to get your products made in China? If so, there are many Chinese manufacturing firms that offer services that are well suited for your needs. However, finding the right manufacturer in China can be an extremely difficult process. Indeed, we have heard horror stories of business people who have had products made in China on their own, only …

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