It Pays to Take Another Look at Ocean Freight Charges
“Unfortunately, many retailers and importers don’t have the time or resources necessary to examine the accuracy of ocean freight charges,” Ocean Freight Refunds founder Steve Ferreira said in a prepared statement. “They don’t realize the tremendous impact overcharges have on their business or when they do, they’re not aware of how to solve the problem.”
Errors occur despite the best efforts of importers and freight companies to reduce them. A back end audit of the ocean freight transportation invoices, such as those conducted by Ocean Freight Refunds, can discover errors that have slipped through the cracks.
Discovering these errors and reclaiming the cash is becoming more and more important to firms facing increasing ocean freight rates in the wake of recent hurricanes. Purchasing.com cites AME Mineral Economics in reporting that the regional supply shortages of ship heavy bunker fuel oil is driving ocean freight rates up.
Increasing costs do not appear to be slowing the pace of imports, however. The Commerce Department reported record imports of $167.2 billion in August according to Reuters.