13
Dec

Significant port cost miscalculation leads to a six-figure loss covered by ITIC

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 The incident involved a South American grain shipment where the pool manager’s use of outdated cost estimates for port fees led to …