International shipping is fraught with risks, from regulatory compliance to unforeseen disruptions. At FGN, we recognize the importance of effective risk management to ensure smooth operations and customer satisfaction. We actively monitor a multitude of market dynamics that allow for our customers to make well informed decisions.

Let’s take a look at some common risks in international shipping:

1. Market Risks: Fluctuations in vessel capacity, fuel prices, exchange rates, and seasonal demand can impact shipping costs. These variables are constantly changing, so staying informed is crucial for making well-informed decisions.
2. Operational Risks: Challenges such as container availability, weather delays, accidents, and cargo damage during transit can disrupt shipping schedules. Our experienced team at FGN actively monitors these factors and adapts our strategies to minimize disruptions.
3. Regulatory Risks: Compliance with international regulations, such as the Federal Maritime Commission (FMC) rules and the International Maritime Dangerous Goods (IMDG) code, is essential. Our in-house Compliance Team ensures ongoing adherence to these regulations.
4. Political Risks: Geopolitical instability can impact trade routes, affecting shipping routes and costs. Being aware of global events allows us to proactively adjust our operations.

So how does FGN work to mitigate these risks?

1. Diversification: FGN has tenured relationships with experienced vendors and carriers throughout the country as well as internationally. Our network allows us to pivot when needed, and offer alternative and creative solutions.
2. Experience: FGN is US based with a global consortium of experienced partners. Domestically, we have several “hubs” within the US where we concentrate our operations. Within these hubs, we have trained and experienced personnel who, in concert with the team at FGN, work proactively to minimize any disruptions and additional costs related to our shipments.
3. Insurance: FGN maintains an array of insurance coverages including General Liability, Manufacturer’s Liability, Contingent Auto Liability, and others. Optional insurance products like Shipper’s Interest Cargo Insurance are also available to ensure the broadest form of coverage possible.
4. Compliance: Our in-house Compliance Team monitors any updates to shipping regulations, audits vendor safety records, and liaises with the FMC to ensure ongoing adherence to all regulations.

We certainly haven’t seen it all, but as experts in bulk liquid logistics for over a decade, FGN has been exposed to a variety of situations requiring risk management. In these situations, our focus remains on cost efficiency, regulation compliance, and shipment reliability. We find success in proactive planning, continuous monitoring, and adapting our strategies to assist our customers in navigating any challenges. If you are interested in discussing upcoming shipments, please reach out to our team at info@fgn-net.com.