1

A STUDY ON MARKET POTENTIAL OF FREIGHT FORWARDING BUSINESS

THE PROJECT REPORT SUBMITTED TO AMET BUSINESS SCHOOL

IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE

OF

MASTER OF BUSINESS ADMINISTRATION

IN

SHIPPING & LOGISTICS MANAGEMENT

BY

SANGEETH. S. MENON

(Reg. No. ASL13126)

Under the guidance of

Mr. SURAJ BHAN SHARMA

BE(Avionics), MBA(Mktg, Fin),LLM, DTL, MPhil(PhD)

Professor

AMET BUSINESS SCHOOL

AMET UNIVERSITY

AMET BUSSINESS SCHOOL

AMET UNIVERSITY

2014-2015

2

ACKNOWLEDGEMENT

I thank The Almighty for showering his choicest blessings on me for the successful

completion of project work undertaken by me.

I express my sincere thanks and gratitude to Mr. John George, Manager GAC Logistics

(India) Pvt Ltd for his constant encouragement, profound advice and supervision for project.

My sincere thanks are also due to Mr. Joseph Biju and Mr. Binoy, officers of GAC

Logistics (India) Pvt Ltd. for their expert counsel on studies and support.

I express my sincere thanks to Dean, Amet University, Mr S RAMACHANDRAN and

Mentor Mr. SURAJ BHAN SHARMA for their constant encouragement and guidance. I

have indeed no words to express my gratitude to all the faculty of Amet University, Chennai.

And above all, I remember with reverence my parents & Almighty God who inspired my

mind & strengthen my hands to make this study a successful one

3

DECLARATION

I hereby declare that the internship report entitled A STUDY ON MARKET

POTENTIAL OF FREIGHT FORWARDING BUSINESS submitted to Amet

University, Chennai in partial fulfilment of the requirement for the award of the degree

Master of Business Administration as a record of original Internship report done by

SANGEETH S MENON (Roll no: MBA/664/13) during the period of study in AMET

UNIVERSITY (2013-2015), Chennai.

SANGEETH S MENON Signature of candidate:

MBA (S&LM)

Date:

Place: CHENNAI

4

CERTIFICATE FROM THE GUIDE

This is to certify that the project work entitled A STUDY ON MARKET POTENTIAL OF

FREIGHT FORWARDING BUSINESS submitted to AMET University in partial fulfillment

of the requirement for the award of the Degree of Master of Business Administration in Shipping

& Logistics is record of the original work done by SANGEETH S MENON under my supervision

and guidance and that this project work has not formed the basis for the award of any

Degree/Diploma/Associate ship/fellowship or similar title to any candidate of any University.

Mr. SURAJ BHAN SHARMA Signature of Guide

ASSISTANT PROFESSOR

AMET UNIVERSITY

Date:

Place: CHENNAI

5

CERTIFICATION OF APPROVAL

This is to certify that the project work entitled A STUDY ON MARKET POTENTIAL

OF FREIGHT FORWARDING BUSINESS is bonafide research work carried out

independently by SANGEETH S MENON (Roll no: MBA\664) during the period of study

in AMET UNIVERSITY (2013-2015) in partial fulfilment of the requirement for the award

of the Degree of Master of Business Administration and that this project work has not

formed the basis for the award of any Degree/Diploma/Associate ship/fellowship or similar

title to any candidate of any University.

Signature of the Guide

Date:

Place: CHENNAI

Internal Examiner External Examiner

Dean & Head of Department

AMET BUSINESS SCHOOL

6

CONTENTS

CHAPTER.

NO.

CONTENTS PAGE NO.

1. INTRODUCTION 7

1.1 OVER VIEW OF THE TOPIC 8-9

2. COMPANY PROFILE 10

2.1 ABOUT GAC 11-13

2.2 GACS VISION & MISSION 13-15

2.3 GAC INDIA 15-16

3. SECTOR SPECIFIC DETAILS 17

3.1 FREIHT FORWARDING 18-20

4. LEARNING FROM THE

ORGANISATION

21

4.1 ROLE PLAYED BY DIFFERENT PARTIES 21-24

4.2 INCOTERMS 24-29

4.3 EXPORT PROCEDURE FLOW CHART 30-35

4.4 IMPORT PROCEDURE FLOW CHART 35-39

4.5 FACTORY STUFFING 40-42

4.6 GENERATION OF SHIPPING BILLS 42-43

5. SUGGESTIONS & CONCLUSION 44

5.1 SUGGESTIONS 45

5.2 CONCLUSIONS 46

6. REFRENCES 47-48

7

CHAPTER 1

INTRODUCTION

8

INTRODUCTION

This project says about an analysis of impact on Market Potential On Freight Forwarding

Business. Todays rapidly changing business environment is creating intense competition

among corporations markets are changing faster now than in any other time in history.

Product life cycles are shortening and businesses must compete globally.

Freight forwarders perform a key role in any trade. The freight forwarder is the architect of

the international transport and plays an important role in the growth of the international trade

in India by facilitating exporters, shippers, importers, customs/ports authorities etc.

The freight forwarding industry will continue to benefit from growth in trade and certain

structural advantages over carriers. Value is driven by financial performance is driven

strategic position. Strategic position must assessed in a disciplined manner , which examines

the discrete and interrelated activities within a forwarder value chain to understand sources of

synergy and options to increase value.

1.1. OVER VIEW OF THE TOPIC

Freight forwarding is a service used by companies that deal in international or multi-national

import and export. While the freight forwarder doesn't actually move the freight itself, it acts

as an intermediary between the client and various transportation services. Sending products

from one international destination to another can involve a multitude of carriers, requirements

and legalities. A freight forwarding service handles the considerable logistics of this task for

the client, relieving what would otherwise be a formidable burden.

Freight forwarding services guarantee that products will get to the proper destination by an

agreed upon date, and in good condition. The freight forwarding service utilizes established

relationships with carriers of all kinds, from air freighters and trucking companies, to rail

freighters and ocean liners. Freight forwarding services negotiate the best possible price to

move the product along the most economical route by working out various bids and choosing

the one that best balances speed, cost and reliability.

9

Freight forwarding plays an important role in facilitating international trade, fulfilling a

number of distinct functions. In basic terms they act on behalf of exporters to buy and

manage transportation services. These usually include air or sea freight , as well as land

transportation services to move goods from the shipper to the port .

Freight forwarding has become an increasingly complex and specialized service in the current

context of globalization, tight security regulations and skills shortages. Maintaining a

competitive advantage in such an environment requires strategic planning and action, and its

going to become more challenging as complexity grows.

10

CHAPTER 2

COMPANY PROFILE

11

2.1. ABOUT GAC

Backed by nearly 50 years of experience, the GAC group has grown from regional player to

become a truly global Shipping, Logistics and Marine Services provider with 200 offices

worldwide. Established in 1956, GACs core business covers three key areas Shipping,

Logistics, and Marine Services. A unique combination of services enables GAC to offer a

single experienced source for all Shipping and Transport requirement from traditional

Shipping agency services to Supply Chain Management to offshore support. GAC employs

more than 5000 people Worldwide. The GACs Group head offices are located in Houston,

Cairo, Dubai and Singapore. The GAC brand reflects value for money, quality, continuity,

innovation and global reach.

The GAC group is committed to ensuring customers need for quality Shipping, Logistics and

Marine services are understood and met. And with over 10,000 professionals working around

the clock, speaking more than 100 languages, at more than 300 offices in over 40 countries,

GAC deliver on that promise.

Since the first GAC operation was setup in Kuwait by Swedish entrepreneur Bengt Lindwall

in 1956, the group has evolved into the widely recognized global provider of integrated

shipping, logistics and marine related services. GACs globalization strategy is to use steady

and consistent geographical expansion, achieved through organic/ opportunistic growth, joint

venture, partnership and acquisitions. GAC is local in action and global in attitude.

The value of human dignity is one of the corner stones of GACs operating philosophy. They

value long term relationships with business partners, customers, suppliers and to their own

staffs. Wherever you go, you will find GAC people striving for excellence in everything they

do, driven by a sense of urgency and a desire to meet all their customers every service need.

That combination of the personal touch with fierce professional pride is our corporate

signature.

GACs financial strength, global reach, strong reputation and innovation enable us to expand

in step with their customers worldwide, responding to their needs and the changing demands

of local, regional and global markets. Their customers are central to everything they do. It is

their ever-increasing demand for competitive solutions that drives GAC to refine and

integrate their services to meet the customers needs.

12

Shipping was GACs first business unit, dating back to when their first office opened in

Kuwait, to provide lightering and ship agency services, in 1956. Today, GAC Shipping is one

of the worlds biggest providers of services to ship owners and operators.

GACs Logistics operation originated from their forwarding, warehousing and distribution

operations in Dubai. Today, GAC Logistics has grown into a global network providing a rich

array of general and specialist logistics services.

GACs Marine operation centers around our modern and expanding fleet of supply craft and

barges that provide vital support for offshore exploration, construction and production, heavy

lift cargo towage, etc. GAC Marine operates in key locations in the Middle East Gulf, West

Africa and Caspian Sea.

GAC takes full advantage of the diversity of their portfolio of services, Their worldwide

infrastructure, resources and expertise to deliver integrated solutions that result in time and

cost efficiency. Sectors such as the oil & gas industry, in particular, benefit from GACs

unique ability to offer a tailor-made service package covering ship agency, bunker fuels,

project logistics, offshore logistics and more. Other sectors that can benefit from GACs wide

range of services include cruise, dry bulk, automotive, FMCG, retail, technology, healthcare,

sports, entertainment/events, projects, offshore, etc.

We know that you must first sow before you can reap. Thats why GAC has always believed

in investment: in long-term relationships with their clients, partners, brand ambassadors and

suppliers; in the technology and equipment to get the job done - and done well; and in

training our people, as evidenced by the establishment of the GAC Corporate Academy in

2007.

Individual GAC companies operate with a high degree of autonomy, giving them the

flexibility to act in accordance with local conditions and specific customer needs whilst

maintaining the global outlook and standards of the Group.

QUALITY ASSURANCE

GAC is global service organization dedicated to providing efficient and competitively priced

shipping, logistics and marine services. GACs mission is to offer their customers a

consistently high level of service that exceeds their requirement and expectation. All GAC

offices are certified under the Quality Management System ISO 9002: 1994 standard. They

13

are now actively working towards full implementation of the ISO 9002: 2000 standards

within GAC. GACS approach to quality goes well beyond the certain set of ISO standards. It

also involves continues improvement and development of their services. Through the GAC

Quality Management System(QMS), they control and monitor their performance to ensure

continuous improvement in their service quality level.

2.2. GACS VISION AND MISSION

VISION

To provide leadership and innovation in global business and community life by delivering a

flexible portfolio of services built on quality, safety, honesty, vigor and a commitment to long

term business relationships.

MISSION

GAC is a worldwide service provider dedicated to building long-term relationships with

customers, staff and suppliers. We are committed to delivering integrated services to the

Shipping, Logistics, Marine and related markets at the highest levels of quality and safety.

GAC SHIPPING

GAC shipping is leading provider of global and hub agency services. In addition to ship

agency, GAC shipping offers an extensive range of specialized services such as Ship

Supplier, Global Hub Agency and Canal Transit. GAC shipping also acts as correspondents

for most International Groups and P&I club.

GAC shipping today represent the interest of more than 3,500 principles worldwide and

attends to over 26,000 vessels annually, of which one-third are regular line and dry cargo

vessels, while two-third are tankers.

GAC MARINE

GAC Shipping provides marine transportation and associated engineering services such as

Anchor Handling, Offshore Supply, Towage, Barge Operation and Ship-to-Ship Transfer to

Offshore and Shipping industry. They own and operate fleets of OSVs, tugs, barges and

landing craft. Vessels can be customized according to client requirement.

14

GAC LOGISTICS SERVICES

GAC India offers a full range of freight forwarding and distribution services throughout the

country. The company is a pioneer in developing Asia to Europe Sea-Air services, offering

time and cost efficient solutions for shippers in diverse industries. Their cargo service

department is dedicated to providing services such as international forwarding

(Sea/Air/Land), bonded warehousing, export & import NVOCC, project Logistics and LCL

consolidation. Air freight is expedited by the Cochin International Airport Office which

handles air cargo exclusively. Specialized services such as value-added solution are provide

to meet the growing demand from global customers requiring integrated supply chain

management facilities. In addition to offering competitive rates, they provide customers with

progress reports from delivery to destination via GACs proprietary IT system GAC Freight.

P&I COORESPONDENT

One service include 24/7 claims handling, marine surveys and damage report etc. GACs

team of claims staffs has the knowledge and experience for efficient management of all P&I

incidents claims on behalf of their clubs and ships owner member. GAC India represent

Skuld at Mumbai and other intermediary ports near Mumbai and acts as the sole

correspondent for Swedish clubs in Mumbai, Kandla, Goa, Cochin, Chennai and Vizag.

AIR FREIGHT

GACs worldwide freight management capability ensures their customers cargo reaches any

city, country or continent wherever they need. Their global partnership agreement with major

air carrier means their customers get priority and have access to competitive rates and

capacity. Goods are collected at the point of origin, cleared through customs and delivered to

the end consignees using the most cost efficient and expedient route. They monitor and

provide progress report every step of the via. their global IT system (GAC Freight), giving

clients complete visibility of the move and peace of mind.

SEA FREIGHT (NVOCC)

GAC Indias popular direct consolidation service helps to reduce freight cost by routing to

direct port calls with reduced transit time. The service is offered by Cargo Gulf, GACs

branded NVOCC (Non Vessel Operating Common Carrier) to a host of destination in Europe,

The America, Middle East and Far East.

15

For LCL Shipment (Less than Full Container Load), Cargo Gulf operates weekly

consolidation to destination around the world, which is widely known for its time bound

delivery. Cargo Gulf also assist customer for FCL (Full Container Load) shipments. Issuing

its own carrier Bill Of Lading means cargo gulf is in a position to control the cargo door to-

door. As one of the largest NVOCC freight buyers in the world, GAC are able to pass on

competitive rates to clients.

SEA / AIR FREIGHT

A pioneer of Sea / Air freight concept, GAC Logistics provide the supply chain solution for

merchants looking for a significant cost advantage or those operating with low inventories

rapidly changing industries such as electronic, fashion, foot wear. GACs Sea / Air trade

lanes span from Asia to Europe and the United States and allow clients their own hub via

either Dubai or Singapore. Cargo is received and located into GACs town consolidation

containers or complete FCL containers. All Sea / Air Cargo are labeled by special colour

codes for expedited transfer to respective airport in Dubai or Singapore. Fast and Flexible,

GACs Air /Sea services enables shipper to save up to one of their own all air transit

times.

GAC LOGISTICS PARK IN DUBAI

Strategically located in Jebel Ali Free Zone in Dubai, the GAC Logistics Park is the facility

in Middle East spreading Warehousing, Web enables inventory management system and

world class ISO: 9001-2000 operation sources. The design features of the GAC Logistics

Park include:

Web enables

Inventory Management System

Supporting Complete Stock Management

Supply chain visibility

Marshaling and access space throughout the facility to reduce bottlenecked and expedite flow

of goods capacity to handle a higher number of product lines from a multi customer base,

using high bay mobile, palletized and bulk storage solution specialized warehousing with

temperature ranging from ambient to cool ( +18c), to Frozen(-30c).

16

2.3. GAC India

Shipping Services

Established in 1983, GAC Shipping (India) Pvt. Ltd. has grown steadily to offer a truly one

stop shop for all Shipping, Logistics and distribution needs.

GAC India is headquartered in Cochin, Queen of the Arabian Sea, and operates 22 other fully

fledged and ISO 9001:2000 certified offices. They cover all minor and major ports, as well as

inland container depots.

With over two decades of experience, GAC India is one of the leading agents in India. GAC

offers principles round the clock (24/7) comprehensive range of ship agency services for any

type of port calls, including attendance required in connection with vessel demolition and

ship to ship transfer etc.

GLOBAL COVERAGE AND LOCAL EXPERTISE

GAC Cochin head office acts as the Hub Office for all Operations in the country and co-

ordinates all administrative and international financial matters, which helps to streamline

processes. As a part of GAC group, they offer principal the combination of worldwide

coverage with a thorough local knowledge.

FULLY COMPUTERIZED AUTOMATION SYSTEM

Using leading edge technology and computerized operation system, GAC Cochin Shipping

desk controls the shipping activities at Indian ports situated at both East and West Coasts.

Information about any port can be speedily furnished from this office.

HUB AGENCY

GACs Global Hub Services (GHS) offers an integrated service package encompassing the

coverage, experience and expertise of the groups global network, to help its clients control

and save on all their port call related expenses.

GHS is made up of Global Disbursement Center based in Dubai, supported by four regional

HUB Agency Centers located in USA, UK, UAE and Singapore.

17

CHAPTER 3

SECTOR SPECIFIC DETAILS

18

3.1. FREIGHT FORWARDING

Freight forwarding is the coordination and shipment of goods from one place to another via a

single or multiple carriers via air, marine, rail or highway. The importance of freight

forwarding for global trade was recognized in Canada in 1948 with the establishment of the

Canadian International Freight Forwarders Association (CIFFA). CIFFA recognized that

forwarding freight, whether by land, marine, rail or air requires coordination, regulation and

agreed-upon best practices to ensure that goods flow in a timely and proficient manner across

borders, overseas, and throughout the world.

The Principles of Freight forwarding

The principles of freight forwarding are premised on the efficient and cost-effective transfer

of goods that are maintained in good condition throughout their travels. To accomplish this,

freight forwarders become experts in managing the logistics necessary to ensure that goods

arrive on time. Successful trade and shipping in expanding globalized markets means having

the right tools at your disposal.

Negotiating tariffs, customs regulations and being fluent in the requirements of shipping by

land, sea, rail, and air, freight forwarders manage the risks and benefits of shipping both

nationally and internationally using the latest advances in information technology.

Successfully Navigating the World of Freight Forwarding

Having the knowledge and skills to navigate the regulations of freight forwarding is integral

to ensuring the successful shipment and delivery of goods. Even as the knowledge of customs

regulations is an important component, the successful transfer of goods through freight

forwarding relies on its service industry. As such, freight forwarding depends on having the

right people whose commitment to excellence and customer satisfaction ensures that goods

reach their final destination in a timely and efficient manner.

Many customs brokerage firms recognize this and ensure that their most qualified personnel

are available to tailor and develop a comfortable shipping experience for their clients.

Negotiating the logistics and regulations of freight forwarding is a complex task; the proper

import and export of goods depends on choosing a customs brokerage firm and a freight

forwarder you can trust.

19

FREIGHT FORWARDER

A freight forwarder, forwarder, or forwarding agent, also known as a non-vessel operating

common carrier (NVOCC), is a person or company that organizes shipments for individuals

or corporations to get goods from the manufacturer or producer to a market, customer or final

point of distribution. Forwarders contract with a carrier to move the goods. A forwarder does

not move the goods but acts as an expert in supply chain management. A forwarder contracts

with carriers to move cargo ranging from raw agricultural products to manufactured goods.

Freight can be booked on a variety of shipping providers, including ships, airplanes, trucks,

and railroads. It is not unusual for a single shipment to move on multiple carrier types.

International freight forwarders typically handle international shipments. International freight

forwarders have additional expertise in preparing and processing customs and other

documentation and performing activities pertaining to international shipments.

Information typically reviewed by a freight forwarder includes the commercial invoice,

shipper's export declaration, bill of lading and other documents required by the carrier or

country of export, import, and/or transshipment. Much of this information is now processed

in a paperless environment.

The FIATA shorthand description of the freight forwarder as the 'Architect of Transport'

illustrates the commercial position of the forwarder relative to his client. In Europe, some

forwarders specialize in 'niche' areas such as rail-freight, and collection and deliveries around

a large port.

Lloyd's Loading List is the freight forwarding industry's journal of record, first published 160

years ago as a UK export directory. Today it provides details of forwarders, NVOCCs and

shipping lines/agents who serve over 10,000 ports globally. Some forwarders handle

domestic shipments only.

An international freight forwarder is an agent for the exporter and can move cargo from

dock-to-door, providing several significant services such as:

Advising on exporting costs including freight costs, port charges, consular fees, costs

of special documentation, insurance costs and freight handling fees;

20

Preparing and filing required export documentation such as the bill of lading and

routing appropriate documents to the seller, the buyer or a paying bank;

Advising on the most appropriate mode of cargo transport and making arrangements

to pack and load the cargo;

Reserving the necessary cargo space on a vessel, aircraft, train, or truck.

Making arrangements with overseas customs brokers to ensure that the goods and

documents comply with customs regulations.

Export freight forwarders are licensed by the International Air Transport Association (IATA)

to handle airfreight and the Federal Maritime Commission to handle ocean freight.

Freight forwarders arrange the best means of transport, taking into account the type of goods

and the customers' delivery requirements. They use the services of shipping lines, airlines and

road and rail freight operators. In some cases, the freight forwarding company itself provides

the service. Companies vary in size and type, from those operating on a national and

international basis to smaller, more specialized firms, who deal with particular types of goods

or operate within particular geographical areas.

The services of a freight forwarder can vary between different companies but the main

function of the freight forwarder is to act as an intermediary between the client who is hiring

them and various transportation services that are involved in getting the product overseas to

the customer. Depending on the final destination and the nature of the items shipped, there

may be many transportation companies involved in the movement of the items from the

supplier to the customer. The freight forwarder may have to deal with many export and

import issues that could be involved in the movement of the goods.

The freight forwarder is hired to get the product to the customer by a specific date and in an

undamaged state. The freight forwarder will provide the client insurance services to make

sure that if the items do arrive damaged, they will be reimbursed and not liable for the

damages.

21

CHAPTER 4

LEARNING FROM THE ORGANISATION

22

4.1. ROLE PLAYED BY DIFFERENT PARTIES

ROLE OF FREIGHT FORWARDERS

A freight forwarder, forwarder, or forwarding agent is a person or company that

organizes shipments for individuals or other companies and may also act as a carrier. A

forwarder is often not active as a carrier and acts only as an agent, in other words as a third-

party (non-asset-based) logistics provider that dispatches shipments via asset-based carriers

and that books or otherwise arranges space for these shipments. Carrier types

include ships, airplanes, trucks, and railroads.

Freight forwarders typically arrange cargo movement to an international destination. Also

referred to as international freight forwarders, they have the expertise that allows them to

prepare and process the documentation and perform related activities pertaining to

international shipments. Some of the typical information reviewed by a freight forwarder is

the commercial invoice, shipper's export declaration, bill of lading and other documents

required by the carrier or country of export, import, or transhipment. Much of this

information is now processed in a paperless environment.

ROLE OF NVOCC

As the name indicates, NVOCC operators do not own a vessel. Their function is that of

principal to the shipper and they ultimately become the customer for a Liner who carries their

box. Few of them may have own containers and they will be issuing their own Bill of Lading

and they will be having a wide network in the sector they operate.

They issue their House Bill of Lading to the Shippers and them upon handing over the

container to the Liner, get Liner Bill of Lading. This Original Bill of Lading will be

forwarded to the counter party of the NVOCC operator at the destination end and they

surrender this to the Liner. Alternatively, to avoid the delay in sending the original document

to the destination end, the same will be surrendered at the load port Liner / agents office

itself. The Liner / Agent at the load port will send an electronic message to the discharge port

about the surrendering of original bill of lading at the load port and to release the delivery

order based on the endorsement of the freight forwarder / NVOCC operator itself. NVOCC

Operators issue House-to-House Bill of Lading or Combined Transport Document to the

shipper since they undertake the movement from the Shippers ware house and taking the

responsibility of reaching the cargo till the buyers warehouse.

23

It is not the same pattern of working for all the operators but in the present days, the amount

of significance given to Logistics Providers are of immense importance and this type of

functioning is gaining greater acceptance among the shippers as well as buyers since the

entire activity is under single point control.

Few other operators just function as freight forwarders and their role of play are limited to

the extent of the contacting the shippers and booking the cargo through a particular Liner.

They will have a contracted freight charges with the Liner and depending upon their strength

to offer volume of business to a particular line and to a particular sector, they enjoy good

discounts on the tariff. When they get the rates based on a committed volume, they hunt

around shippers and they book the cargo through them to a Liner wherein they have a better

freight charges. The difference in booking the price would be their profit i.e., the difference

between the buying rate and the selling rate to the customer. In this case, the bill of lading

will directly be given to the customer from the Liner office and there is no involvement of

house bill of lading and the related surrendering formalities at the destination counter.

ROLE OF CLEARING AGENT

Clearing agent means any person who is engaged in providing any service, either directly or

indirectly, concerned with the clearing and forwarding operations in any manner to any other

person and includes a consignment agent. Once the cargo arrives at the port/ CFS the clearing

agent at the consignees place will go with the necessary documents and take delivery of

cargo. In order to take delivery of cargo there are many processes that are to be done which is

already mentioned in CHA import process and the clearing and forwarders agent.

ROLE OF CONSIGNEE

Party, who is to receive goods, usually is the buyer. One to whom a consignment is made.

When the goods consigned to him are his own and they have been ordered to be sent they are

at his risk the moment the consignment is made according to his direction; and the persons

employed in the transmission of the goods are his agents. When the goods are not his own, if

he accept the consignment he is bound to pursue the instructions of the consignor; as if the

goods be consigned upon condition that the consignee will accept the consignor's bills, he is

bound to accept them.

It is usual in bills of lading to state that the goods are to be delivered to the consignee or his

assigns, him or them paying freight; in such case the consignee or his assigns, by accepting

24

the goods, by implication become bound to pay the freight. When a person acts publicly as a

consignee there is an implied engagement on his part that he will be vigilant in receiving

goods consigned to his care, so as to make him responsible for any loss which the owner may

sustain in consequence of his neglect.

4.2. INCOTERMS

Inco terms are ICCs standard definitions of trade term s and are internationally recognized as

indispensable evidence of the buyers and sellers responsibilities for delivery under a sales

contract.

EXW FCA FAS FOB CFR CIF CPT

SERVICES Ex Works

Free

Carrier

Free

Alongside

Ship

Free

Onboard

Vessel

Cost &

Freight

Cost

Insurance

& Freight

Carriage

Paid To

Warehouse Storage Seller Seller Seller Seller Seller Seller Seller

Warehouse Labor Seller Seller Seller Seller Seller Seller Seller

Export Packing Seller Seller Seller Seller Seller Seller Seller

Loading Charges Buyer Seller Seller Seller Seller Seller Seller

Inland Freight Buyer Buyer/

Seller*1 Seller Seller Seller Seller Seller

Terminal Charges Buyer Buyer Seller Seller Seller Seller Seller

Forwarders Fees Buyer Buyer Buyer Buyer Seller Seller Seller

Loading On Vessel Buyer Buyer Buyer Seller Seller Seller Seller

Ocean/Air Freight Buyer Buyer Buyer Buyer Seller Seller Seller

Charges On Arrival At

Destination Buyer Buyer Buyer Buyer Buyer Buyer Seller

Duty, Taxes & Customs

Clearance Buyer Buyer Buyer Buyer Buyer Buyer Buyer

25

Delivery To Destination Buyer Buyer Buyer Buyer Buyer Buyer Buyer

There are actually two FCA terms:

FCA Seller's Premises where the seller is responsible only for loading the goods and

not responsible for inland freight; and

FCA Named Place (International Carrier) where the seller is responsible for

inland freight.

CIP DAF DES DEQ DDU DDP

SERVICES

Carriage

Insurance

Paid To

Delivered

At

Frontier

Delivered

Ex Ship

Delivered

Ex Quay

Duty

Unpaid

Delivered

Duty

Unpaid

Delivered

Duty Paid

Warehouse Storage Seller Seller Seller Seller Seller Seller

Warehouse Labor Seller Seller Seller Seller Seller Seller

Export Packing Seller Seller Seller Seller Seller Seller

Loading Charges Seller Seller Seller Seller Seller Seller

Inland Freight Seller Seller Seller Seller Seller Seller

Terminal Charges Seller Seller Seller Seller Seller Seller

Forwarders Fees Seller Seller Seller Seller Seller Seller

Loading On Vessel Seller Seller Seller Seller Seller Seller

Ocean/Air Freight Seller Seller Seller Seller Seller Seller

Charges On Arrival At Destination Seller Buyer Buyer Seller Seller Seller

Duty, Taxes & Customs Clearance Buyer Buyer Buyer Buyer Buyer Seller

Delivery To Destination Buyer Buyer Buyer Buyer Seller Seller

26

The 13 INCOTERMS

What are INCOTERMS?

Inco terms are a set of simple three letter codes which represent the different ways

international shipments may be organized. They allow sellers and buyers from different

cultures and legal systems to decide at what point the ownership and paying for freight,

insurance and customs costs transfer from one to the other.

Who decides what INCOTERMS mean?

The International Chamber of Commerce has set up strict definitions for each incoterm.

Choosing a suitable incoterm allows the buyer and seller to negotiate a price best suited to

their needs and to be confident that there will be no confusion over who pays the costs. To

ensure that the latest version is being used shipping contracts should refer to "INCOTERMS

2000".

When should INCOTERMS be used?

It is not compulsory to use incoterms. However when things go wrong and disputes arise it is

much easier to sort out who is responsible for what if incoterms have been written into the

shipping contract. To be safe, incoterms should be decided upon in the negotiation phase of

any international purchasing contract.

How do INCOTERMS work?

Each INCOTERM is a three letter acronym related to where the seller's responsibility ends.

They should be written into the purchasing or shipping contracts. Some incoterms require the

changeover point to be named. As well as buyer and sellers there are "carriers". They are the

people who have a contract to transport the goods by land, sea, air or a combination of

modes. A seller will be given a bill of lading, way bill or carrier's receipt, that document can

be used to prove that the goods have been taken on by the carrier.

27

There are four groups of INCOTERMS - "E", "F", "C" & "D"

Group:E

used where the seller does not want to arrange transport.

EXW - "Ex-Works" means the seller's only responsibility is to make the goods available at

the seller's premises, i.e., the works or factory. The seller is not responsible for loading the

goods on the vehicle provided by the buyer unless otherwise agreed. The buyer bears the full

costs and risk involved in bringing the goods from there to the desired destination.

"Ex works" represents the minimum obligation of the seller.

Group:F-

used where the seller can arrange some transport within his/her own country.

FCA - Free Carrier, This term has been designed to meet the requirements of multi-modal

transport, such as container or roll-on, roll-off traffic by trailers and ferries. The seller fulfils

his/her obligations when the goods are delivered to the custody of the carrier at a named

point. If no precise point can be named at the time of the contract of sale, the parties should

refer to the place where the carrier should take the goods into its charge. The risk of loss or

damage to the goods is transferred from seller to buyer at that time.

FAS - Free alongside Ship, requires the seller to deliver the goods alongside the ship on the

quay. From that point on, the buyer bears all costs and risks of loss and damage to the goods.

F.A.S. requires the buyer to clear the goods for export and pay the cost of loading the goods.

FOB - Free On Board vessel, named ocean port of shipment.

The goods are placed on board the ship by the seller at a port of shipment named in the sales

agreement. The risk of loss of or damage to the goods is transferred to the buyer when the

goods pass the ship's rail (i.e., off the dock and placed on the ship).

The seller pays the cost of loading the goods.

Group:C-

used where the seller can arrange and pay for most of the freight charges up to the

foreign country.

28

CFR - (or C&F) Cost and Freight, Named ocean port of destination,

requires the seller to pay the costs and freight necessary to bring the goods to the named

destination, but the risk of loss or damage to the goods, as well as any cost increases, are

transferred from the seller to the buyer when the goods pass the ship's rail in the port of

shipment. Insurance is the buyer's responsibility.

CIF - Cost, Insurance and Freight, named ocean port of destination.

This is CFR with the additional requirement that the seller procure transport insurance against

the risk of loss or damage to goods. The seller must contract with the insurer and pay the

insurance premium. Insurance is generally important in international shipping because

transport companies have restricted liability for loss or damage.

CPT - freight/Carriage paid to, named place or port of destination.

This term means the seller pays the freight for the carriage of the goods to the named

destination. The risk of loss or damage to the goods and any cost increases transfers from the

seller to the buyer when the goods have been delivered to the custody of the final carrier, and

not at the ship's rail. Accordingly, "freight/carriage paid to" can be used for all modes of

transportation, including container or roll-on roll-off traffic by trailers and ferries. When the

seller is required to furnish a bill of lading, way bill, or carrier receipt, the seller duly fulfils

its obligation by presenting such a document issued by the person contracted with for carriage

to the main destination.

CIP - Carriage and Insurance Paid To named place or port of destination.

This term (also abbreviated CIP) is the same as "freight/carriage paid to" but with the

additional requirement that the seller has to procure transport insurance against the risk of

loss or damage to the goods during the carriage. The seller contracts with the insurer and pays

the insurance premium.

Group:D-

used where the seller can pay for most of the delivery charges to the destination

country.

DAF - Delivered at Frontier, named place of destination, by land, not unloaded.

This term means that the seller's obligations are fulfilled when the goods have arrived at the

frontier but before the customs border of the country named in the sales contract. The term is

29

primarily used when goods are carried by rail or truck. The seller bears the full cost and risk

in delivering the goods up to this point, but the buyer must arrange and pay for the goods to

clear customs.

DES - Delivered Ex-Ship, named port of destination, not unloaded.

This term means the seller makes the goods available to the buyer on board the ship at the

destination named in the sales contract. The seller bears the full cost and risk involved in

bringing the goods there. The cost of unloading the goods and any customs duties must be

paid by the buyer.

DEQ - Delivered Ex-Quay, named port of destination, unloaded, not cleared.

This term means the seller has agreed to make the goods available to the buyer on the quay or

the wharf at the destination named in the sales contract. The seller bears the full cost and risks

in delivering the goods to that point including unloading. There are two variations of ex quay

contracts: "ex quay duty paid" and "ex quay duty on buyers account." In the first, the duty is

paid by the seller. In the second, the duty also is paid by the seller, but the buyer must

reimburse the seller.

DDU - Delivered Duty Unpaid, named place of destination, not unloaded, not cleared.

This term Delivered duty paid or under these terms, the seller fulfils his obligation to deliver

when the goods have been available to the buyer nucleated for import at the point or place of

the named destination. The seller bears all costs and risks involved in bringing the goods to

the point or place of named destination. There is no obligation for import clearance.

DDP - Delivered Duty Paid, named place of destination, not unloaded, cleared.

This term represents the seller's maximum obligation. The term "DDP." is generally followed

by words indicating the buyer's premises. It notes that the seller bears all risks and all costs

until the goods are delivered. This term can be used irrespective of the mode of transport. If

the parties wish to make clear that the seller is not responsible for certain costs, additional

word should be added (for example, "delivered duty paid exclusive of VAT and/or taxes").

30

4.3. EXPORT PROCEEDURE FLOW CHART

YES

RECEIVE

ENQUIRY

FROM SHIPPER

UPDATE

QUOTATION

CUSTOMS

REQUIRED CUSTOMS PROCEDURES

ENTER DATA IN

SYSTEM

BOOK CARGO

ARRANGE

TRANSPORTATION

RECEIVE CARGO

31

STUFF CARGO

RECIVE B/L DETAILS

FROM SHIPPER

GIVE B/L DETAILS TO

THE LINE

RECEIVE B/L DRAFT

FROM SHIPPING LINE

SENT DRAFT B/L TO

SHIPPER/FORWARDER

SHIPPER/FORWARDER

CONFIRMS B/L

CONFIRMS B/L TO THE

LINE

VESSEL ARRIVAL

CONFIRMATION

32

CUSTOMS PROCEDURES

RECEIVE

AUTHORIZATION

FROM SHIPPER

ENTER DATA INTO

SYSTEM

RECIEVE DOCUMENTS

INVOICE

PACKING LIST

DOCUMENTS REQUIRED BY

SHIPPER

CERTIFICATE OF ORIGIN

PQ CERTIFICATE

INSURANCE CERTIFICATE

FILE DOCUMENTS WITH CUSTOMS

BOOK CARGO

DELIVERY ORDER

33

EXPORT PROCEDDURE

When the exporter approaches custom house agent (CHA), CHA makes an offer in the form

of quotation as per the requirements of the exporter, addressing the exporter stating all the

shipment expenses with competitive rates of shipment. Then the CHA demands for the

invoice, packing list etc. After the submission of the documents, agent files for the shipping

bill.

The agent will get necessary information about the sailing from the shipping times of EXIM

to which they subscribe. C&F will assist the exporters for space booking. Depending upon

the availability, GAC will book the desired space and issue. The cargo shipped is insured

either by the exporter or GAC agent on the behalf of the exporter to cover the loss of goods

from accidents, loss or damage.

ARRANGE

RECEIVE CARGO

STUFF CARGO

34

Once the goods are ready, shipper or agent should do the necessary packing and markings.

The exporter should tell the C&F agent the details of the cargo, name of the vessel etc. and

the documents which is being sent to the agent.

On applying for the container for the shipper line, the line will issue the delivery order for the

containers from the yard. On applying for the container, the agent may demand for inspection

of the container before loading. After certifying the container, the liner issues the line seal.

Once the container is released from the transport company, vehicles take the container to the

premises or to the warehouse of the exporter or agent for stuffing.

The trailer when reaches the gateway of the wharf will require the wharf ticket, on paying

necessary dues of vehicle entry, container enters the port. The agent must apply to the shed

superintendent for permitting the cargo into the port and also for the shed to keep the

containers before loading. Customer examiner examines the document and appraises the

value. On assessing the value of the cargo, the custom authorities assess the duty to be paid

for the goods for shipment. Then the forwarding agent presents the documents to the shed

department of the port and obtains Carting order for bringing the export cargo to the transit

shed for physical examination by the dock appraiser and for the shipment. The dock appraiser

records the examination report and makes Let Export endorsement on the duplicate copies

of the shipping bill and handover it to the forwarding agents along with the other document to

be presented to the preventive officer of the customs department and the officer issues

Allowed for Shipment if satisfied.

The customs on receiving the request from the agent for shipping bill, initially issues the

Checklist with reference to the documents submitted for CHAs certification. The shipping

bill is issued by the appraiser. After the goods are loaded on board of the vessel, the

forwarding agent makes the payment of the port charges and takes delivery of the documents.

The master finally loads the container to the vessel.

35

The endorsed documents are presented to the GAC for the issue of Bill Of Lading. The CHA

prepares a format of the B/L and submits to the line. The line on the basis of the format

presented, issues the original and endorses the other documents. After the shipment of the

goods, CHA has to apply for the Certificate of Origin at the Chamber of Commerce. The

CHA prepares the Export General Manifest to the concerned line.

Terms of shipment include FOB, C&F, CIF etc. of the freight is not received even after the

goods reaches the destination port, GAC informs the delivery agents not to take the delivery

of the goods.

4.4. IMPORT PROCEDURE FLOW CHART

NO

FREE ALERT RECEIVED

FROM CLIENT

PREPARE QUOTATION

FCL

SHIPMENT

FILE IGM

FREIGHT

COLLECT

36

YES

NO

FREIGHT CERTIFICATE INVOICE FROM OVER

SEAS AGENT

CUSTOMS

CLEARANCE

REQUIRED

CUSTOMS

CLEARANCE

PROCEDURE

ENDORSE BILL OF

LADING

RAISE INVOICE

UPDATE SUPPLIER IN

SYSTEM

APPROVE JOB

37

CUSTOMS CLEARENCE PROCEDURE

CLOSE JOB (BY

ACCOUNTS)

CLOSE JOB (BY

LOGISTICS)

UPDATE

DOCUMENTS IN

THE SYSTEM

RECEIVE

AUTHORIZATION

FROM CONSIGNEE

RECEIVE DOCUMENTS

INVOICE

PACKING LIST

CERTIFICATE OF

ORIGIN

ENDORSE

ORIGINAL B/L

VESSEL ARRIVAL

NOTIFICATION

38

FILE DOCUMENTS WITH

CUSTOMS

RECEIVE OPEN ORDER

RECEIVE DELIVERY

ORDER

CUSTOMS

EXAMINATON

RECIVE DUTY

AMOUNT

PAY RECEIVED DUTY

AMOUNT

ARRANGE

TRANSPORTATION

DELIVER CARGO

SIGN DELIVERY

RECIEPT

39

IMPORT PROCEDURES

After making necessary enquiry, consignee contacts GAC for the clearing and documentation

process. Cargo arrival notice is issued by the shipping line at the destination to GAC

requesting to present the original B/L after payment of all relevant duty and charges and to

arrange the clearance of cargo, storage charges etc. will be charged on the importer. GAC

informs the consignee through the importer quotation. If the bill of lading has not arrived,

GAC, who is the shipping agent, issues the Letter for undertaking to the shipment line

requesting to issue the goods to the prescribed consignee without showing the original B/L.

After the customs inspection and assessment of duty, validity of the cargo is certified. On

issue of the delivery order. GAC has to ensure that freight charges are paid.

The customs import duty payment is made to Cochin Port Trust Branch. Before discharging

the goods to private bonded warehouse, GAC requests the permission of Asst, Commissioner

of Customs to post an officer to escort the cargo to the bonded warehouse for custom

inspection for de stuffing the goods. GAC also makes request the Terminal Manager for

examination and discharge of the containers for de stuffing, permitting the custom inspection

outside the terminal.

The trailers before the CHA takes the container from the port and is carried to either to the

importers private warehouse for house consumption or to the bonded warehouse of the

customs(private) to bond the cargo without payment of the duty, entrusting the B E for

warehouse and the port and line delivery order.

After de stuffing the goods, B E for ex-bond is prepared by CHA and forwarded the customs

for original copy, which has to be produced to take the delivery of goods from the bonded

warehouse.

The import container has to be returned to the line at the container yard. The surveyor

inspects the condition of the container whether any damage have occurred during the transit

and issues the Equipment Interchange report on behalf of the line, showing the position of the

container. In case of any damage, the line will claim damage from the importer.

40

4.5. Factory stuffing permission:

The grant of a single factory stuffing permission valid for all the Customs stations instead of

Customs station-wise permission is permitted. This facility is subject to the following

safeguards:

(i) The exporter is required to furnish to Customs a list of Customs stations from where he

intends to export his goods.

(ii) The Custom House granting the factory stuffing permission should maintain a proper

register to keep a track-record of such permissions, and also create a unique serial number for

each of such permissions.

(iii) The Custom House should circulate the factory stuffing permission to all Custom Houses

concerned clearly indicating the name and contact details of the Preventive Officer/Inspector

and Superintendent concerned of the Custom House granting the permission as well as those

of the Central Excise Range concerned to facilitate real time verifications, if required.

(iv) In case something adverse is noticed against the exporter, the Customs station concerned

shall promptly intimate the Custom House granting the permission, which will, in turn,

withdraw the permission, and inform all Custom Houses concerned.

Variation between declaration and physical examination:

The check list and the declaration along with all original documents submitted with the

Shipping Bill are retained by the Appraiser concerned. In case of any variation between the

declaration in the Shipping Bill and physical documents/examination report, the Appraiser

may mark the Electronic Shipping Bill to the Assistant Commissioner/Deputy Commissioner

of Customs (Exports) along with sending the physical documents and instruct the exporter or

his agent to meet the Assistant Commissioner/Deputy Commissioner of Customs (Exports)

for settlement of dispute. In case the exporter agrees with the views of the Department, the

Shipping Bill needs to be processed accordingly. Where, however, the exporter disputes the

view of the Department the issue will be finalized in accordance with the principles of natural

justice.

Drawl of samples:

Where the Appraiser Dock (Export) orders for samples to be drawn and tested, the Customs

Officer may proceed to draw two samples from the consignment and enter the particulars

thereof along with details of the testing agency in the ICES/EDI system. There is no separate

41

register for recording dates of samples drawn. Three copies of the test memo shall be

prepared by the Customs Officer and signed by the Customs Officer and Appraising Officer

on behalf of Customs and the exporter or his agent. The disposals of the three copies of the

test memo are as follows:

(i) Original to be sent along with the sample to the test agency.

(ii) Duplicate Customs copy to be retained with the 2nd sample.

(iii) Triplicate Exporters copy.

If he considers it necessary, the Assistant Commissioner/Deputy Commissioner, may also

order sample to be drawn for purposes other than testing such as for visual inspection and

verification of description, market value inquiry, etc.

Stuffing / loading of goods in containers:

The exporter or his agent should hand over the Exporters copy of the Shipping Bill duly

signed by the Appraiser permitting Let Export to the steamer agent who would then

approach the proper officer (Preventive Officer) for allowing the shipment. In case of

container cargo the stuffing of container at Dock is done under Preventive Supervision.

Further, loading of both containerized and bulk cargo is to be done under Preventive

Supervision. The Customs Preventive Superintendent (Docks) may enter the particulars of

packages actually stuffed into the container, the bottle seal number, details of loading of

cargo container on board into the EDI system and endorse these

details on the Exporters copy of the Shipping Bill. If there is a difference in the quantity/

number of packages stuffed in the containers/goods loaded on vessel the Superintendent

(Docks) may put a remark on the Shipping Bill in the EDI system and that it requires

amendment or change in quantity. Such Shipping Bill may not be taken up for the purpose of

sanction of Drawback/DEEC logging, till it is suitably amended. The Customs Preventive

Officer supervising the loading of container and general cargo into the vessel may give

Shipped on Board endorsement on the Exporters copy of the Shipping Bill.

24.2 Pollicisation of cargo is done after grant of Let Export Order (LEO). Thus, there is no

need for a separate permission for pollicisation from Customs. However, the permission for

loading in the aircraft/vessel would continue to be obtained.

[Refer Circular No.18/2005-Cus., dated 11-3-2005]

42

Amendments:

Any correction/amendments in the check list generated after filing of declaration can be made

at the Service Centre provided the documents have not yet been submitted in the EDI system

and the Shipping Bill number has not been generated. Where corrections are required to be

made after the generation of the Shipping Bill number or after the goods have been brought

into the Export Dock, the amendments will be carried out in the following manner:

(i) If the goods have not yet been allowed Let Export the amendments may be permitted by

the Assistant Commissioner (Exports).

(ii) Where the Let Export order has already been given, amendments may be

Permitted only by the Additional/Joint Commissioner in charge of Export.

In both the cases, after the permission for amendments has been granted, the Assistant

Commissioner/Deputy Commissioner (Export) may approve the amendments on the EDI

system on behalf of the Additional/Joint Commissioner. Where the print out of the

ieport.com - India's Premier Export Import Portal 36

Shipping Bill has already been generated; the exporter may first surrender all copies of the

Shipping Bill to the Dock Appraiser for cancellation before amendment is approved on the

system.

In respect of amendment in AEPC Certificate on receipt of request from the exporter, the

Assistant Commissioner /Deputy Commissioner (Exports) should allow the change of port in

EDI Shipping Bills / invoice to help exporters in getting the goods cleared without waiting

for an amendment of documents by AEPC. The ratification of the port of change would be

done subsequently by AEPC. [Refer Circular No.46/2003-Cus., dated 5-6-2003

4.6. Generation of Shipping Bills:

After the Let Export order is given on the EDI system by the Appraiser, the Shipping Bill is

generated in two copies i.e., one Customs copy, one exporters copy (EP copy is generated

after submission of EGM). After obtaining the print out the Appraiser obtains the signatures

of the Customs Officer and the representative of the CHA on both copies of the Shipping Bill

and examination report. The Appraiser thereafter signs and stamps both the copies of the

Shipping Bill. The Appraiser also signs and stamps the original and duplicate copy of SDF

and thereafter forwards the Customs copy of Shipping Bill and original copy of the SDF

43

along with the original declarations to Export Department. The exporter copy and the second

copy of the SDF are returned to the exporter or his agent. ieport.com - India's Premier Export

Import Portal

Shipping bill:

1. Customs copy

2. Examination order

3. Exporter copy

4. Exchange control copy

5. Bank copy

Export General Manifest:

All the shipping lines/agents need to furnish the Export General Manifests, Shipping Bill-

wise, to the Customs electronically before departure of the conveyance.

Apart from lodging the EGM electronically the shipping lines need to continue to file manual

EGMs along with the exporter copy of the Shipping Bills in the Export Department where

they would be entered in a register. The shipping lines may obtain acknowledgement

indicating the date and time at which the EGMs were received by the Export Department. .

Electronic Declarations for Bills of Entry and shipping Bills:

Bill of Entry (Electronic Declaration) Regulations, 2011 has been framed in supersession of

the Bill of Entry (Electronic Declaration) Regulations, 1995 to incorporate changes made

vide Finance Act, 2011 and mandate self-assessment by the importer or exporter, as the case

may be. Likewise, Shipping Bill (Electronic Declaration) Regulations, 2011 are framed in

tune with statutory provisions of Sections 17, 18 and 50 of the Customs Act, 1962. Shipping

Bills are done or prepared on the company software known as Citrix or Gac freight.

44

CHAPTER 5

SUGGESTIONS & CONCLUSION

45

5.1. SUGGESTIONS

Most of the customers are exporters. Hence there should be steps to attract

importers also. Value added services can be provided to attract the importers.

The main source of promotion is through direct marketing; hence the promotional

activities have to be improved. The promotion can be done through advertisement

in newspapers, journals, magazines and also through internet

The shipping destination is only port-port. There is no port- warehouse,

warehouse- warehouse transportation. Firm should improve the road

transportation, which is also an important part of logistics activity.

The company lacks a warehouse facility which is very necessary in an efficient

logistics activity. It can have its own warehouse or lease one.

The technology used should be upgraded to ensure 100% utility of resources.

Resources should not be left idle as it causes additional cost

46

5.2. Conclusion

The study ON Market Potential Of Freight Forwarding Business has paved way to understand

the various process and various functions Freight Forwarding in an organization.

GAC India is one of the leading agents in India. GAC offers principles round the clock (24/7)

comprehensive range of ship agency services for any type of port calls, including attendance

required in connection with vessel demolition and ship to ship transfer etc

Such that I would like to conclude the Study goes in a well manner.

47

CHAPTER 6

REFRENCES

48

REFERENCES

www.gacindia.com

www.cochinport.com

www.wikipedia.com

Companys previous files and records