EUROPE/MIDEAST CARRIERS ANNOUNCE INSURANCE SURCHARGE
The carriers of the Europe Middle East Rate Agreement, the Aqaba Rate Agreement and the Jeddah Service Group, three conferences in the trade between Europe, the Red Sea and the Mideast, have announced the introduction on Monday (Oct. 1) of an “extra risk insurance surcharge.”
For all three conferences, the surcharge will be $125 per TEU.
The conferences warned that the level of the surcharge is subject to change at short notice.
“War risks insurance costs have increased significantly to a level where the lines can no longer absorb them,” the conferences said in identical statements issued on Friday.