At Centersource Technologies AB we are committed to the highest standards of ethical research and data integrity, guided by the ESOMAR Code of Conduct. Our data is sourced from a limited, anonymous market survey conducted with trusted and established industry participants. The insights derived from this survey reflect aggregated finalized prices as well as observed prices reported within the participants respective markets, with a focus on the highest prices recorded during the first two weeks of each month. These insights are provided for informational purposes only and are intended to indicate market trends rather than serve as comprehensive or fully representative market data.

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    We exclusively use data from government, customs, or government-affiliated websites to maintain reliability and public integrity. In addition, we engage directly with industry experts to gather real-time, firsthand information. Each data point is collected, verified, and aggregated following established ethical standards, ensuring that our research processes meet the rigor recommended by ESOMAR.
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By integrating ESOMAR's ethical guidelines into our research methodology, we ensure that our practices are transparent, respectful of data confidentiality, and aligned with internationally recognized standards. This commitment not only reinforces the credibility of our insights but also builds trust with our stakeholders and industry partners.

FMC enforces new guidelines on detention and demurrage

FMC enforces new guidelines on detention and demurrage

Posted on June 3, 2024   |  

The recent update from the US Federal Maritime Commission (FMC) regarding detention and demurrage (D&D) rules took effect yesterday, bringing in new rules for billing, timelines, and dispute resolution.

One significant change is that D&D invoices can now only be sent to the consignee, the party who arranged with the billing entity for ocean transportation or storage, or the accountable party.

The FMC stressed the importance of correctly billing the right party under the new rule.

Vessel-operating common carriers (VOCCs) and marine terminal operators (MTOs) must now issue D&D invoices within 30 days of charges occurring.

Non-Vessel Operating Common Carriers (NVOCCs) need to send invoices within 30 days of receipt.

Billed parties have at least 30 days to request fee adjustments, refunds, or waivers, with the billing entity required to try resolving the matter within the same timeframe unless both parties agree otherwise.

The updated rules also require invoices to include specific identifiable information about the billing entity to ensure clarity for recipients.

Failure to include the necessary information on invoices relieves the billed party from any obligation to pay the relevant charge.