EUROPE/ISRAEL SHIPPING LINES ADD $150 WAR RISK CHARGE

EUROPE/ISRAEL SHIPPING LINES ADD $150 WAR RISK CHARGE    Shipping lines of the Europe/Mediterranean Trade Agreement said they have implemented a $150-per-TEU war risk surcharge for shipments moving to and from Israel.
   The conference is believed to be the first carrier group to introduce a war risk surcharge, following the terrorist attacks in the United States and the moves towards military actions in the Mideast.
   The Europe/Mediterranean Trade Agreement said “Israel war risk insurance costs have increased significantly to a level where the lines can no longer absorb the cost.”
   Other countries in the region did not have existing war risk, but insurers have said war risk premia must be paid for vessels arriving there on Sept. 27 and thereafter, the conference said.
   “The situation regarding the level of premium for containers which insurers will impose is not yet clear,” it added.
   The carrier group said it will keep the surcharge under review and may revise it depending on developments in the region.
   The Europe/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.