Drewry launches detention and demurrage support service

Detention and demurrage fees represent an increasingly significant and concerning cost burden to international shippers with costs in some cases so punitive they exceed negotiated freight rates.

“Over recent months, Drewry has been working closely with members of its Benchmarking Club contract freight rate closed user group to better understand the challenges facing international shippers and where support is most needed in this area,” said Philip Damas, head of Drewry Supply Chain Advisors. “Detention and demurrage is a challenging area for management, but all too often costs can be exacerbated by poor visibility of free time and excess time data and insufficient attention to the monitoring and identification of problem areas.”

The support package developed by Drewry gives shippers the insights and tools they need to quantify, assess, and manage their detention and demurrage cost exposure, pro-actively set carrier policy and introduce more effective business processes to improve cost and exception management.

“By combining relevant data points with best practice insights and then applying this knowledge as part of a programme of scoping, discovery, and action, Drewry is able to give shippers the visibility needed to more confidently and effectively manage these costs in future,” said Damas.

Read the article online at: https://www.drybulkmagazine.com/shipping/13082020/drewry-launches-detention-and-demurrage-support-service/