The rebound in Libyan oil production has also had an impact on the market for cif incoterms
Libya's oil production has risen to 700,000-800,000 BPD in the past week, Energy Minister Mohamed Oun said on Monday. That is a significant increase from the 100,000-150,000 b/d the energy minister claimed on June 13.
Libya's apparent increase in oil production last week was partly due to increased production at Sharara, the country's largest field, according to people familiar with the matter. At full capacity, the field can produce about 300,000 barrels a day. In addition, production from Sarir, a key field in the east of the country, is increasing. Libya has Africa's largest oil reserves, but production has been erratic this year due to rising political tensions and protests in the energy sector and ports. In 2021, Libya will produce 1.2 million barrels a day.
Many Opec members, including Libya, have struggled to meet production targets, leading to continued tightness in the oil market. Crude oil prices have risen nearly 50% this year. WTI futures were down 0.28% at $107.69 a barrel at press time, while Brent futures were down 0.59% at $112.45.
In late April, Libya's National Oil Corporation (NOC) said some of its main oilfields and export terminals were blocked by armed groups and a refinery was damaged by armed clashes, reducing national oil production by more than 550,000 b/d at the time. In September, clashes between Oun and Mustafa Sanalla, chairman of Libya's National Oil Company, led to demonstrations at several of Libya's key oil terminals, which also hit the country's oil production.
Factors affecting freight forwarder cif incoterms Freight transportation
In international freight transport, one of the most concerning issues is the price of freight transport. The cost is directly related to the cost of transportation. Because many exporters do not understand the price of transportation very much, and often have a lot of extra spending, then today to understand the factors of the price of international freight transportation?
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The transportation prices are different for different cif incoterms
In the general international trade process, the price of transport according to different modes of transport, price is also different. International freight rates are divided into sea freight, air freight and rail freight.
The specific cif incoterms freight rate can also be subdivided. For example, rail freight can be divided into passenger freight and freight. Shipping rates are also divided into tramp rates and liner rates. Tramp rates are also affected by market supply and demand relations at that time, while liner transport costs are relatively fixed. Airfreight can be divided into general goods, designated goods and special goods, and the specific transportation price is also determined according to the weight of transportation, at the same time, even if the volume is small, the weight is also counted by weight, but if the opposite is large, small weight, also according to the specific volume to calculate.
The choice of international logistics, the quality of logistics will affect the seller's store score, but also affect customer satisfaction rate.
Factors affecting the shipping price of cif incoterms
In the process of international transportation, there are many factors affecting the price of transportation, in addition to some fuel and labor costs, there are many important factors. For example, the nature of the cif incoterms, its own value and packaging form, as well as stowage factor and transporter's requirements for transportation, etc. There will be some fixed costs during the use of the ship, such as the ship's maintenance insurance and fuel consumption. There is also the change of supply and demand in the cif incoterms market. In the transport off-season, transport prices are relatively low, in the transport of the peak season, transport prices will be relatively high.
Logistics advantages of the cif incoterms in the destination country and region
In Eastern Europe, DHL has advantages in Romania, Bulgaria, Moldova, Hungary and other places while EMS has advantages in Greece, Russia, Turkey and other places. Western Europe, Northern Europe, southern Europe can use DHL international express, TNT international express, these two kinds of customs clearance capacity. TNT has a clear advantage in the Netherlands and Belgium.
For Canada, the United States and other American countries, FedEx, UPS and DHL are all suitable for their strong customs clearance capacity and fast time.
Applicable to Asia, South Korea, Japan, Thailand and other Southeast Asian countries DHL, FedEx. DHL and FedEx are time-saving, but THE price of DHL is higher. Indonesia also suggests USING DHL because it has a stronger customs clearance capacity.
In Oceania, DHL and UPS aging fast, with high prices; TNT and FedEx have lower prices but relatively few outlets. Particular attention should be paid to the "Made in China" label on the packaging of Australian products.
Middle East express ARAMEX, EMS for Middle East region. Commercial express in Africa is very expensive. In remote areas, IT is suggested to send EMS international express. EMS countries have the strongest customs clearance capacity. The air express cif incoterms can reach many countries and regions that commercial express and postal express cannot reach, so the wide range of cif incoterms transportation is its advantage.
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