ASIA/EUROPE WAR RISK SURCHARGE TO KICK OFF OCT. 1
The Far Eastern Freight Conference said its ocean carriers will levy an emergency war risk surcharge of an undetermined amount, effective Oct. 1.
Shipping lines in the Asia/Europe trade conference said war risk insurance for excluded areas, including the Suez area, have been cancelled, and would be replaced soon by higher-premium war risk insurance.
But the FEFC carriers “still do not have a clear indication of what the insurers will charge as additional premia for Suez transit,” the conference said.
The FEFC carriers are APL, CMA CGM, Egyptian International Shipping Co., Egyptian Navigation Co., Hapag-Lloyd, Hyundai Merchant Marine, “‘K” Line, Maersk Sealand, Malaysia International Shipping Corp., MOL, National Shipping Company of Saudi Arabia, Nippon Yusen Kaisha, Orient Overseas Container Line, P&O Nedlloyd and Yangming Marine Transport.