Geneva, 15 July 2021 – According to recent reports[1], demurrage and detention charges have doubled, resulting in complaints across the US, Europe and Asia with a reported average increase in D&D charges of 104% over the past year. Today’s maritime supply chain continues to undergo severe disruptions, exacerbated further by the ongoing COVID-19 pandemic. Schedule reliability in terms of transit and frequency are now at an all-time low resulting in a total absence of predictability, whilst freight rates are at record high levels. Freight forwarders and their customers – many of whom are small and medium-sized enterprises (SMEs) – are particularly hard hit by these rocketing prices, being increasingly subjected to spot contracts with high price volatility as compared to longer-term contracts held by beneficial cargo owners (BCOs).