International Transport Intermediaries Club (ITIC) News
Maritime logistics: Cost estimation pitfalls exposed
In a recent case underscoring the essential nature of precise cost estimation in maritime logistics, ITIC (International Transport Intermediaries Club) has settled a US$140,000 claim resulting from an error in calculating port charges. The incident involved a South American grain shipment where the pool manager’s use of outdated cost estimates for port fees led to a substantial financial discrepancy. A pool manager organised a ship to load a cargo of grain at a South American port. Using...