Pinnacle International Freight

PINNACLE INTERNATIONAL FREIGHT JOINS SPACE PARK LEICESTER

Pinnacle International Freight — 19/02/2024

Following our long-standing involvement in space tech logistics, we are proud to announce that we have joined the dynamic ecosystem at Space Park Leicester.

Founded in June 1972 in central Leicester by brothers Martyn, Stuart, and Chris Burrell, Pinnacle International Freight Ltd has grown into a globally recognised logistics solutions provider with bases in the UK and USA, along with a long-established network of global partners.

Headquartered in Broughton Astley, Leicestershire, Pinnacle is known for delivering outstanding worldwide logistics solutions across all industries, driven by a commitment to quality, consistency, and efficiency.

Pinnacle has supported the University of Leicester Space Research Centre in transporting components for various exciting projects, showcasing their commitment to the region’s space sector.

Gavin Newman, Operations Director, said: “Pinnacle has been involved in Space tech logistics for many years, supporting the University of Leicester Space Research Centre with global movement of components for lots of exciting projects, including Swift X-Ray telescope, Catsat soft X-Ray Spectrometer, AstroSat India and the hugely complex delivery of MIRI for James Webb Telescope to NASA.

“We are proud of our Leicester heritage and the development of Space City Leicester. Joining Space Park Leicester aligns with our goal to support and encourage international businesses to base their operations alongside this unique and innovative community.”

Vinay Patel, Head of Commercial and Innovation, at Space Park Leicester said: “With over 50 years of international trade experience, the company will provide advice, guidance, and support for international trade and worldwide logistics within the Space City ecosystem.

“Their on-site presence will give Space Park Leicester an ongoing resource for day-to-day advice and operations as a logistics services provider, including customs matters and project management.

“Being part of the Space City ecosystem is a significant milestone for Pinnacle, marking a new chapter in the company’s history.

“Their long-standing relationship with the University of Leicester Space Research Centre and Space Park Leicester demonstrates a deep understanding of the importance of the work carried out here, our role as a customs site operator for East Midlands Freeport and the broader Space Tech industry.”

Gavin added: “This development strengthens our collaboration and demonstrates our commitment to being an integral part of the long-term, global space sector expansion. Our extensive experience ideally places us as a central point of advice and supply chain support, allowing scientists, researchers, and businesses to focus on their objectives.

“We are proud to extend our heritage to being part of the Space City and its global reputation.”

For more information about Space Park Leicester visit: https://www.space-park.co.uk/
Find out more about the University of Leicester

Freight Company Encourages Manufacturers to ‘take control of their exports’

Pinnacle International Freight — 09/05/2024

Member of Made in the Midlands and leading freight forwarding company Pinnacle Freight has emphasised the need for businesses, particularly manufacturers, to take control of their exports. The advice comes after increasing trade costs and intense global competition. Delving into their wealth of experience in freight forwarding and logistics, the state of UK manufacturing, embracing technology for efficiency and their own sustainability initiatives were also discussed.

Established in 1972, Pinnacle Freight remains a family-owned business committed to excellence and agility in freight forwarding and logistics. The company prides itself on its compliance-driven approach, meeting the diverse needs of clients ranging from SMEs to large corporations. With recent developments like the opening of an office at Space Park Leicester, Pinnacle Freight is actively expanding its network and enhancing its service offerings.

Discussing challenges in international trade, the team at Pinnacle highlighted economic factors like higher costs and intense global competition. However, the company emphasised the UK's competitive advantage in providing high-quality, reliable products. Gavin Newman, Operations Director at Pinnacle, said: “ To tackle challenges, we encourage customers to take control of their exports, ensuring products reach destinations in optimal condition while also managing freight costs effectively.”

As industry leaders, Pinnacle Freight emphasises the importance of equipping their sales teams with knowledge about logistics and international trade. Understanding shipping processes and incoterms enables effective communication with overseas partners and enhances the overall customer experience. Ben Shenton, Sales and Marketing Director at Pinnacle, said: “By fostering collaboration and knowledge sharing, Pinnacle Freight aims to empower businesses to succeed in global markets”.

Recognizing the growing importance of sustainability, Pinnacle Freight has implemented various initiatives to minimise its environmental footprint. Investments in solar energy, electric vehicles, and energy-efficient infrastructure demonstrate their commitment to sustainable practices.In addition, they offer innovative solutions like carbon emissions calculators to help clients reduce their environmental impact.

On top of a focus on sustainability, technology also plays a pivotal role in Pinnacle Freight's operations, driving efficiency and streamlining processes. The adoption of advanced ERP systems like Cargowise enables automation, reduces manual tasks, and enhances reporting capabilities. Additionally, ongoing efforts to enhance cybersecurity and transition to cloud-based infrastructure align with their commitment to continuous improvement.

As Pinnacle Freight continues to evolve and innovate, their dedication to excellence sets a commendable example for the industry. Made in Group members are encouraged to join the online Industry Meetup, on Wednesday 22nd May at 9am,with Ben from Pinnacle who will be sharing the company’s best practices on understanding Incoterms and why ex-works may not always represent the best approach. Register for the event here.

Not a member of Made in the Midlands? Contact us now.

WHY IT’S NOT ALWAYS THE BEST SOLUTION TO SHIP EX-WORKS WHEN EXPORTING OVERSEAS

Pinnacle International Freight — 28/02/2024

Understanding Ex-works

Ex-works places minimum responsibility on the seller, who merely has to make the goods available, suitably packaged usually at the seller’s factory or depot.

Why using Ex-works when exporting overseas not always best?

As the exporter has limited responsibility when arranging the freight using Ex-works, many prefer to use this term and avoid the perceived headache of arranging the freight and instead pass the buck onto their customers.

However, we at Pinnacle do not always believe that this is the correct approach, and would encourage shippers to be flexible when supplying to their overseas customers and consider using other shipment terms such as CIF/CPT/DAP or even DDP, therefore taking control of the freight.

When you are spending time and resource in manufacturing your product, why would you then leave your goods reaching your customer to chance?

So when negotiating terms with your overseas customers, consider negotiating other terms such as FCA/CIF/CPT/DAP or even DDP, rather than just offering EXW.

What are the benefits of considering other shipment terms and keeping control of the freight?

Being HMRC Compliant

It is a myth that if using EXW terms, the exporter is not responsible for Export Customs Clearance, you are.

As the exporter, HMRC expects you to ensure any licences are obtained and goods are declared correctly, regardless of which party is paying for Customs Clearance.

Simply switching to FCA terms and taking responsibility for the export customs entry would ensure you control this element. Pinnacle help all of our customers manage this process efficiently and in full compliance with HMRC rules.

Improving Service and visibility in the supply chain

Service is crucial. By offering your customer a more comprehensive solution, you can simplify the process for your customer who can take a more hands-off approach.

This can potentially help you secure more business and orders from them. Pinnacle can help manage your shipment for you and monitor your shipments’ progress through every milestone, keeping you and your customer fully updated.

Consequently, this ensures that your customer gets the best level of service and are adequately prepared to take receipt of the shipment. When you supply Ex-works you are often left with no idea where your shipment is, and you can receive unwanted surprises along the way such as requesting further paperwork for customs clearance, which can result in more stress for both you and your customer, and make them more likely to order from elsewhere in the future.

Reducing the Risks,

By controlling the freight you know that the service on which your shipment is booked is adequate to meet the needs of your shipment. You can make sure that the service meets any transit time demands and deadlines, travels on a secure, reliable route and is not handled excessively.

Pinnacle has flexibility across multiple services, ensuring the best options in both transit and price are being offered to you and your customer.

You also minimise the risk of the unexpected happening, and therefore issues arising between you and your overseas customer.

Finally, Pinnacle can also ensure that your shipment is adequately packed for the method of shipping you are using to export your goods to your customer. This will ensure that your precious shipment arrives to your customer in exactly the same condition as it was collected from your facility.

We offer a full and extensive export packing service, reducing the chances of damage being sustained during the shipment’s transit. Also, in the event of any damage being sustained, it will not invalidate your insurance as suitably packed for transport.

Profitability and control of the costs

Unsurprisingly, by offering more than just the incoterm Ex-works to your overseas customer, you have more opportunities to increase your business and potential future orders, as some buyers will prefer the freight is arranged by the supplier/shipper.

Offering multiple Incoterms based on your customers’ demands, result in you being more flexible and therefore having the potential of securing more business. Some buyers may not consider your product if you cannot arrange the freight, and therefore look to alternative options.

With more freight control, not only can you give your customer a better service, whilst increasing the potential to secure more business, you can also maximise the profitability and revenue of your company. Arranging the freight gives your company another revenue stream, and you have the opportunity to make profit on the freight itself.

Getting back control of your shipment

To put it bluntly, under Ex-works, as the seller you have no control over multiple aspects of your shipment, such as when and who will be collecting it. You also surrender the knowledge of whether it is secure, how it will be transported and where your shipment is and when your customer receives it.

Therefore, next time you are supplying your overseas customers or negotiating terms, consider using terms such as DAP/DDP rather than just Ex-works. Whichever shipping term you negotiate, be sure to set out the parameters clearly to your customer, to avoid any confusion with them.

If you need any quotations or advice on shipping and use of Incoterms, please feel free to contact Pinnacle at enquiry@pif.co.uk or call 0845 6216 111.

POTENTIAL US EAST COAST AND GULF PORT STRIKES

Pinnacle International Freight — 18/09/2024

US Port Strikes Warning.

US Port strikes affecting East and the Gulf Coast are now a real possibility as talks have broken down between the Unions, represented by the International Longshoreman Association (ILA) and employers resented by the United States Maritime Alliance (USMX). The current labour agreement is due to expire on the 30^th September and unless the two parties can agree on key issues such as wage increases and protection against port automation strikes are becoming more increasingly likely. It is believed that strikes could take place as early as the 1^st October.

If strikes were to go ahead this would lead to heavy disruption and significant delays in cargo movement.

It is estimated that the East Coast /Gulf ports handle approximately 55.5% of US container import volumes year to date.

Whilst imports from Asia can divert to the West Coast ports, that would put significant strain on the port and landside infrastructure.

European exporters sending cargo to the US would be even more impacted as there are few viable options other than to ship cargo to the East Coast. It is likely that shippers would be stranded as any alternative options are well short to handle any increased capacity.

This will undoubtedly lead to port congestion, substantial delays, container shortages and increased shipping costs for exporters to the US market.

One possibility to avoid a strike is for the US government to invoke the Taft-Hartley Act with a court order for an 80-day cooling off period, which happened in the 2022 in relation to West Coast ports.. However, this action may be delayed as they explore other options, considering the potential political ramifications ahead of the election.

Whatever happens, Pinnacle will closely monitor the situation and keep our customers informed of any developments. Should the strikes occur we will help to try and find alternative solutions wherever possible and minimize the impact on your supply chain.

If you have any questions or would like any more information regarding shipping, please do not hesitate to contact us.