In the last blog, we tried making sense of demurrage and detention. But why should an exporter or an importer know about them? Can demurrage and detention really hurt your bottom line?
Often times, most of us in the shipping industry find ourselves struggling to understand what exactly are demurrage and detention. Given the confusing similarities between these two concepts, it gets difficult to distinguish one from the other. However, there exists a line of difference, the understanding of which is imperative for all those involved with containerized shipping.