President Biden Audit Ocean Freight
b'Ocean freight bull market makes Feds flinch. Rare \\u201caudit\\u201d trigger (to my knowledge a first) requested by admin on 9 ocean carriers regarding detention/demurrage billing as well as general billing practices. I\\u2019ve been saying it all along, ocean freight is stuck in a 70\\u2019s mentality for internal efficiencies. The pandemic has left it\\u2019s 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.\\xa0\\xa0\\xa0\\nIs 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\\u2019s era operations to finally catch up. We explore all on today\\u2019s \\u201cNavigate B2B\\u201d\\nFollow FreightWaves on Apple Podcasts\\nFollow FreightWaves on Spotify\\nMore FreightWaves Podcasts\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'