More marine carriers to implement war risk surcharges

The Informal Rate Agreement (IRA) and the Europe/Mediterranean Trade Agreement (EMTA) have joined the growing list of carrier groupings applying war risk surcharges to cover huge insurance premium increases being slapped on vessels passing through the Middle East, reports Schednet.com.

The IRA will levy a temporary additional risk surcharge (TARS) from October 1, saying it has “no option but to recover the increase in costs through the introduction of this surcharge”. The TARS will affect all eastbound and westbound cargo on bills of lading dated on or after October 1.

Member lines are APL, Cosco, HMM, IRISL, Maersk Sealand, MOL, NYK, OOCL, PIL, P&ON, Senator, Uniglory, UASC, Wallenius Wilhelmsen, Wan Hai and Yang Ming.

EMTA has also announced a war risk surcharge on its North Europe/Israel Service of US$150 per TEU for all vessels arriving in Israeli ports, and of $250 per TEU for all vessels arriving in Egyptian, Syrian and Lebanese ports. The surcharges apply to all cargo on bills of lading dated from September 27.

Member lines are Armada, AWS (Ellerman), CMA CGM, Contazline, Hamburg Sud, K Line, Maersk Sealand, MSC, Navigation Maritime Bulgare, P&ON and Safmarine.