IHSA has declared a rebate dividend of $173,572 for the period June 1, 2016 through May 31, 2017, which coincides with IHSA’s fiscal year. IHSA is pleased to report that the declared rebate amount is 20.5% larger than last year. The rebate will be distributed among eligible association members during the month of November 2017.
IHSA is proud of the fact that they continue to reward members with a rebate. There are very few international shipper associations that can make that claim. Not only are IHSA members saving on their ocean freight, they are also benefiting from an innovative revenue stream. The more the individual member participates, the greater the membership reward. Individual member rewards can vary on an annual basis from a few hundred dollars to over $55,000.
The steamship industry was riddled with carrier consolidation during 2015 and 2016. A total of eight carriers were either acquired by or merged with other carriers. IHSA was hoping that 2017 would bring some stability to members’ supply chains. The stability lasted only six months. On July 9, 2017, COSCO Shipping Holdings announced that they were making a bid to acquire Orient Overseas International Limited, the parent company of OOCL.
The acquisition will make the new entity one of the largest carriers serving the Asia to United States trade. It’s no surprise that COSCO and OOCL believe the acquisition will be a major benefit for shippers. IHSA has heard similar statements from other carriers involved in previous mergers. The industry is still waiting to see these service benefits materialize. As carrier choices continue to dwindle, IHSA will become an even more valuable tool for their members.
IHSA is comprised of logistics executives who collaborate with IHSA’s management team to obtain competitive pricing, rate stability and reputable service levels. The Association has direct contracts with major steamship lines offering service in the East-West trades. Membership in IHSA is free for regular members of the International Housewares Association.
The International Housewares Shippers Association (IHSA) is a not-for-profit association formed to benefit companies belonging to the International Housewares Association (IHA). Through the combined leverage of members, IHSA negotiates freight contracts and partners with other logistics providers to lower supply chain costs.
IHSA’s main function is to negotiate the lowest possible transportation rates and provide the highest quality service for all participating members. Additionally, IHSA members receive valuable market intelligence and advice through regular newsletters and briefings.
IHA member companies looking to reduce their ocean freight costs or have questions about an ocean freight issue are encouraged to contact IHSA to learn about the program. Contact IHSA at +1-513-489-4743 and learn more on our website.