EUROPE/ISRAEL CARRIERS LOWER WAR RISK SURCHARGE
Shipping lines of the Mediterranean Trade Agreement said they will lower their war risk surcharge, for shipments between Europe and Israel, from $150 to $100 per TEU, effective Oct. 22.
The surcharge applies to both southbound and northbound cargoes.
The Mediterranean Trade Agreement conference said it is now possible to reduce surcharge levels, as the additional vessel insurance premia initially advised to shipping lines by their insurance underwriters have decreased.
The carrier group will continue to review the level of the surcharge. It may be changed at short notice, depending upon developments in the region, the conference said.
The Mediterranean Trade Agreement carriers are: Andrew Weir Shipping (Ellerman), Iscont Lines, “K” Line, Mediterranean Shipping Co., Maersk Sealand, Navigation Maritime Bulgare (Bulcon), P&O Nedlloyd, Safmarine and Zim Israel Navigation Co.