Knowles adds bonded warehousing to service offering

The specialist 3PL said it had identified that businesses were facing an ever-increasing array of challenges, including the complexities surrounding import duties, customs regulations and inventory management.

Bonded warehousing provided a solution to a number of these challenges and Knowles said it offered importers and exporters a secure environment for the storage of goods under customs control, without the immediate need to pay import duties and taxes.

It said it was this ability to defer customs duties and taxes on canned goods such as tuna and sweet corn from which customers were currently taking advantage.

Knowles Logistics added that because duty is not paid until goods leave the warehouse, companies could hold inventory for an unlimited period of time, enabling them to manage fluctuating demand and costs more effectively.

MD Alex Knowles said: “Never has the trading environment been more volatile with geopolitical issues, increased fuel, energy and staffing costs to name but a few.

“By offering those customers importing goods the flexibility of a bonded facility helps them to mitigate some of these issues.

“Not only does it help improve cash flow it also helps customers to streamline their operations, reduce costs and maintain greater control over their stock.

“It is a win-win and one which we see becoming in even greater demand in the coming months.”