The State of Demurrage and Detention
Global container shipping costs have been on a roller coaster ride for the last few years, from the start of the pandemic in 2020 to today.
Major fluctuations in supply and demand during this period were a driving force behind this volatility. Shippers, importers and exporters, and logistics providers were tasked with keeping track of these freight rate swings as well as the associated surcharges, GRIs (general rate increases), and tariffs that are tacked on to base rates.
Shippers need to be strategic to avoid unnecessary free time charges and protect profit margins. Using rate data and rate management software for better decision-making is only the start.
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