California Port Fees Could Set Off A Hyperinflationary Superstorm, $100 Per Container Per Day

Subscribe to http://youtube.com/c/growathome
follow our backup channel
http://bit.ly/odyseesru
http://silverreportuncut.com
Subscribe to the SRU podcast
http://soundcloud.com/silverreport
http://silverreportuncut.podbean.com
Follow Us On Telegram http://t.me/silverreport & https://parler.com/profile/silverreport/posts
anyone can post on our public group http://t.me/silverreportforum
Ad revenue is down almost 70%, it's viewers like you who help keep the sru coming! you can donate via crypto at our website or consider supporting our work on
http://buymeacoffee.com/silverreport
https://www.patreon.com/silverreport
Starting Nov. 1, the ports of Los Angeles and Long Beach will charge $100 per container for boxes dwelling nine or more days that move by truck and those dwelling six days or more that move by rail.
The fee will increase $100 every day. It will be charged to carriers, which will then almost certainly pass the fee along to shippers, meaning it will be the equivalent of an escalating demurrage charge.
“As far as the ‘hyper-demurrage’ announced in Los Angeles/Long Beach, I think it will be catastrophic,” said Rich Roche, vice president of international transportation at Mohawk Global Logistics, during the NSAC meeting.
NSAC members speaking during Wednesday’s meeting emphasized that the Los Angeles/Long Beach charges will ultimately be paid by shippers.
Daniel Miller, global container lead at Cargill, dubbed California’s emergency charges “crazy fees” and said, “We know this is all going to come back to us. I had a couple of calls with carriers yesterday and they’ve already admitted that yes, they are going to come back to us.”
Rick DiMaio, senior vice president of supply chain operations for Office Depot, said, “All fines and fees flow to us, to the beneficial cargo owner.”
According to Ken O’Brien, president of Gemini Shippers Group, “What was done this week at the ports of Los Angeles and Long Beach is effectively an indirect tax on the American consumer.”