• ITVI.USA
    15,861.160
    -7.510
    0%
  • OTLT.USA
    2.793
    0.019
    0.7%
  • OTRI.USA
    21.460
    -0.010
    0%
  • OTVI.USA
    15,867.600
    -6.080
    0%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,861.160
    -7.510
    0%
  • OTLT.USA
    2.793
    0.019
    0.7%
  • OTRI.USA
    21.460
    -0.010
    0%
  • OTVI.USA
    15,867.600
    -6.080
    0%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
News

Intermodal Summit: Ocean shipping reform can create proactive supply chains

2021 reform act calls for port standardization to improve operations

This fireside chat recap is from FreightWaves’ Intermodal Summit.

FIRESIDE CHAT TOPIC: How the Ocean Shipping Reform Act could affect drayage operations

DETAILS: Nimesh Modi, CEO of drayage marketplace BookYourCargo (BYC), dives into the Ocean Shipping Reform Act that would require common ocean carriers to adhere to best practices and regulations around detention and demurrage charges. Modi describes the problems this reform would help solve and how technology could improve from transparency of common carrier operations.

SPEAKER: Nimesh Modi, CEO of BYC

BIO: For the past seven years, Modi has been part of the BYC team, initially as vice president, then chief operating officer and now CEO. Currently based in New York, he is a supply chain thought leader with a deep understanding and experience in logistics, transportation management, ocean freight and drayage. Modi utilizes his comprehensive knowledge and global insight to position himself at the forefront of industry innovations and trends, providing the most optimized solutions for clients.

KEY QUOTES:

“Demurrage and detention is a highlighted point of this whole bill. When you see the value of these [charges], it’s humongous. Sometimes the value of the container looks very small compared to the charges on the container for staying at the terminal for three to four weeks.”

“It used to take two months to get a container [in the United States] back to China for reexport. Now it has increased substantially because a lot of those containers are delayed due to demurrage issues.”

“[If this reform passes] people will be more educated. They will now know if they don’t pre-plan or approach their supply chain proactively, it’s going to cause more problems.”

You may also like:

BookYourCargo platform uses carrier feedback to enhance drayage experience

4 challenges of drayage — and the FreightTech companies solving them

Daily Infographic: E-commerce Changing the Supply Chain Landscape

Grace Sharkey

Grace is an entrepreneur and former supply chain executive who has held positions in sales, operations, and consulting. She is passionate about the future of the industry and how technology can improve the experience for all supply chain members. She believes supply chain is the one industry that affects every human directly, and is looking forward to creating content that mirrors that sentiment. If you have a story to share, please contact me at gsharkey@freightwaves.com.

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