Ocean freight bull market makes Feds flinch. Rare “audit” trigger (to my knowledge a first) requested by admin on 9 ocean carriers regarding detention/demurrage billing as well as general billing practices. I’ve been saying it all along, ocean freight is stuck in a 70’s mentality for internal efficiencies. The pandemic has left it’s shady underbelly exposed. Biggest surprise to me, why stop at 9 carriers. Many non vessel operating common carriers operate the detention and demurrage billing as a for profit enterprise, not as a direct cost pass through.
Is there still fuel in the tank for the ocean carriers to escape the mad dash the Feds might make to their books? Will the volumes dissipate to allow the 70’s era operations to finally catch up. We explore all on today’s “Navigate B2B”