Yahoo Finance CDL 1000 Launches an Unprecedented Effort to Help Shippers Combat Exorbitant Port and Rail Yard Fees
CDL 1000 promises a 24-hour turnaround to pull containers out of yards, or it will pay shippers demurrage late fees and storage costs
CHICAGO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- CDL 1000, a leader in technology for the logistics industry, announces today a new unprecedented pledge to save shippers up to half their overall transportation costs by reducing port demurrage and rail yard storage fees.
The company promises a 24-hour turnaround to pull any container and clear it out of a U.S. port or rail yard on behalf of both new and existing customers, helping them avoid costly fees associated with containers sitting idle. CDL 1000 created an industry-first escrow account that will pay demurrage and storage fees on behalf of customers, if CDL 1000 does not meet its promise of moving containers on time. The quick turnaround times and the escrow account will enable CDL 1000 to reduce companies’ demurrage late fees and storage costs by 20% – 50%, boosting their bottom lines.
No other company in the industry is doing this, which further positions CDL 1000 as the FEMA of drayage. Shippers can contact CDL 1000 when they’re in a bind to quickly and efficiently transport containers and keep shipments moving along the supply chain.
“The supply chain is under immense pressure to deliver goods, and companies are racking up extra costs by letting containers sit idle in ports and rail yards,” said Koz Hara, executive vice president at CDL 1000. “We’re putting our money where our mouth is. Our promise of moving containers on time or paying demurrage fees is our way of flipping the supply chain on its head and helping customers drastically reduce their overall transportation costs. We’re going to support customers any way we can, and our bank is open.”
One of the most significant issues around clearing storage space at ports and rail yards is moving containers out on time. Lengthy approval wait times that can take days only puts more money in the pockets of ports and rail yards through demurrage and storage fees. For companies across the board, these fees can cost millions of dollars each month. One global electronics manufacturer says it was slapped with $2 million in demurrage fees in one single week.
Customers can leverage CDL 1000’s private equipment and large container management team to guarantee on-time delivery for every shipment. For shippers, this means they can more accurately forecast and budget their overall transportation costs, helping them allocate resources to other parts of the business to maximize efficiency.
The fees shippers incur at ports and rail yards directly impact the supply chain, ending with consumers. These fees get passed along to other transportation providers until products reach store shelves. Inflation is already taking its toll on Americans’ pockets, and CDL 1000 is setting out to help curb rising costs.
“Americans are hurting enough from inflation, and ports and rail yards are only adding pressure through their extensive fees,” Hara said. “By taking the pressure off our customers and helping them move containers quicker, hopefully we’ll see the lowered costs reach consumers.”
The top five most expensive global ports for detention and demurrage fees on cargo containers are all in the U.S., where such charges have increased during 2022, even as average costs around the world have fallen from their record highs in 2021. The gap in fees is 2 – 3 times higher at U.S. ports than others around the world, despite increased U.S. regulatory scrutiny of such charges, highlighted by the June passage of the Ocean Shipping Reform Act. This U.S. law grants federal regulators more power to exert control over ocean carriers.
To learn more about CDL 1000 and its services, visit: https://www.cdl1000.com/.
About CDL 1000
CDL is logistics unlimited and the nation’s leading drayage partner. CDL drives efficiency at every turn. From the right equipment ready to go to real-time tracking and always-on technology, CDL is here to get your goods to their destination – without fail.
Everything CDL provides is designed around ease, efficiency, and driving down costs. CDL will help get your containers in and out of ports and rail yards without delays, even during their busiest times.
CDL experience, coordination, and equipment come together to create a seamless and efficient drayage process, from beginning to end – made even smoother by the strong relationships CDL has forged with port and rail yard operators over the years.
From a single load to any number you send, CDL will get your freight where it needs to be, no matter the obstacle, and in the most cost-effective manner.
Media Contact
Matt Greenfield
Uproar PR for CDL 1000
mgreenfield@uproarpr.com
