EUROPE/MIDDLE EAST CARRIERS LOWER RISK SURCHARGE
Shipping lines of the Europe Middle East Rate Agreement have reduced their extra risk insurance surcharge from $51 to $44 per TEU, effective March 11.
The conference carriers said that the reduction follows discussions with their insurance underwriters on the insurance premium levels for vessels serving the Middle East Gulf ports.
The Europe Middle East Rate Agreement carriers are Andrew Weir Shipping (Ellerman), CMA CGM, Hapag-Lloyd, Maersk Sealand, P&O Nedlloyd, Safmarine and United Arab Shipping Co.