Shipping group A.P. Moller-Maersk said on Thursday it will introduce a risk surcharge next year on container shipments to Israel to cover rising insurance premiums due to the security situation.
“Moving into 2024, insurance premiums continue to be raised for vessels bound for Israel, which has brought about the need for Maersk to officially implement an Emergency Risk Surcharge (ERS),” the Danish company said in a statement.
“The surcharge will be used to accommodate additional insurance costs and ultimately ensure a continued and sustainable service for our customers to Israel,” it added.
Customers will from Jan. 8 face a $50 surcharge on 20-foot containers while the charge for containers measuring 40 and 45 feet will be $100, Maersk said.
(Reporting by Terje Solsvik, editing by Louise Rasmussen)
Photograph: Containers of the transport company Maersk are located in Berlin’s Westhafen port in Berlin, Germany, on Wednesday, June 29, 2022. (AP Photo/Michael Sohn)
Related:
- Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots
- Attacks on Red Sea Shipping Menace 12% of Global Trade as War Risk Premiums Rise
- War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks
Was this article valuable?
Here are more articles you may enjoy.
Don’t Forget Tariff Impacts on Workers’ Compensation: Berkley 
Major Florida Grower to Build New Home Development After Ending Citrus Operations 
Potential Tariff Auto Severity Impact on Travelers: Single-Digits or Less 
Tesla Slumps Below 50% Share of California’s Electric Car Market 
