With ocean rates for freight shipping rising like a tsunami, don’t let high costs swamp your budget. Better to follow ICAT Logistics DTW’s advice and find a port in the storm -- a Free Trade Zone (FTZ) – that can save you money on your shipping and handling.
A Free Trade Zone is a duty-free area that offers warehousing, storage and distribution facilities for trade, transshipment and re-export operations. The financial advantages are significant, especially with ocean rates continuing to climb:
“Global ocean rates are climbing fast with no relief in sight, with some rates at the end of 2018 expected to be triple what they were just a couple years ago,” says Chris Cser of ICAT Logistics DTW, which has an FTZ facility in Romulus, Michigan near Detroit’s airport. “We help our customers take advantage of Free Trade Zones, which can substantially reduce their costs. We secure the shipping and warehousing so they don’t have to pay additional fees at the time of delivery.”
There are many additional advantages of using Free Trade Zones:
Cser emphasized that ICAT Logistics is ready to guide its clients on ways to take advantage of doing business within a Free Trade Zone.
“A few basics are necessary,” Cser said. “You’ll need to track inventory, production and manufacturing orders and identify the source of the materials used – whether they are domestic or foreign. Clients must also know how to classify their goods for duty reductions and deferrals.
“ICAT can, and does, work with Free Trade Zones anywhere in the world and we operate one in Michigan, so we know how to help our customers navigate their way,” Cser said. “Those companies that take advantage of these FTZs are very happy with their results.”
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