Hapag-Lloyd introducing risk surcharge for Middle East Gulf

Hapag-Lloyd is joining CMA CGM and APL in charging a war risk surcharge for cargo to and from ports in the Middle East Gulf.

Last month’s attacks on two tankers in the Gulf of Oman have resulted in soaring insurance premiums for vessels transiting the Straits of Hormuz and as a result container lines have started to add box surcharges to shippers.

Hapag-Lloyd is introducing a $42 per teu Vessel Risk Surcharge from 15 July for services in the Middle East Gulf region due to increased operating costs.

The surcharge covers cargo from/to and via Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia Eastern Province Ports Dammam & Jubail and the UAE.

For China the surcharge will be effective from 1 August, and for US/Canada cargo covered by the Federal Maritime Commission (FMC) contracts the date of implantation is yet to be announced.

Read more: CMA CGM and APL introducing war risk surcharge for Middle East ports

Posted 05 July 2019

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Marcus Hand

Editor, Seatrade Maritime News

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >