German container shipping company Hapag-Lloyd has decided to implement a global vessel risk surcharge (VRS) following recent maritime incidents in the Gulf of Oman.
The container line said that operating costs for its services have increased in the Middle East Gulf region as a result of tanker attacks that took place in the Strait of Hormuz.
Other major carriers including CMA CGM, X-Press Feeders, and NYK have already impose a war risk surcharge on cargo destined for the Arabian Gulf or Middle East region due to heightened tensions in the region.
As of July 15, 2019, the surcharge of USD 42 per TEU will be introduced for cargo from/to and via Arabian Gulf — Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia Eastern Province Ports Dammam & Jubail and the UAE, Hapag-Lloyd said.
Depending on risk situation, the company may add additional countries as well as consider increase or mitigation of above mentioned surcharge.
In addition, for cargo from China, the surcharge will be valid as of August 1, 2019. "For FMC related cargo to/from USA and Canada, the implementation date will be announced shortly," it said.