World News
Hapag-Lloyd Adds War Risk Surcharge for Middle East Shipments
Container line Hapag-Lloyd is applying to its customers in the Middle East a war risk surcharge because of the widening conflict in the region.
The surcharge will apply to cargo to and from the Upper Gulf, Persian and Arabian Gulf from March 2, the company said in a note on its website on Sunday.
The charge has been set at $1,500/TEU for standard containers and $3,500/TEU for reefer containers and special equipment.
"The dynamic situation around the Strait of Hormuz and the necessary operational adjustments are causing disruptions throughout the network, which will impact schedules and equipment supply," the company said.
"Therefore, a War Risk Surcharge (WRS) will take effect for cargo to and from the Upper Gulf, Persian and Arabian Gulf."
On Saturday the company said it would suspend transits through the Strait of Hormuz until further notice.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 521.50 | 8.50 | 709.50 | 1.50 |
| Rotterdam | 489.50 | 9.50 | 720.00 | 2.00 |
| Houston | 494.50 | 1.50 | 710.00 | 4.00 |
| Fujairah | 519.50 | 10.00 | 777.50 | 3.50 |
| Global 20 Ports Average | 543.50 | 7.00 | 797.50 | 5.50 |
| Global 4 Ports Average | 506.00 | 7.00 | 729.00 | 2.50 |
| Global Average Bunker Price | 576.00 | 3.00 | 829.50 | 2.00 |
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