World News
Maersk Adds Emergency Risk Surcharge to Israel Container Shipments
Container shipping and logistics firm AP Moller-Maersk is set to add an emergency risk surcharge for shipments to Israel to cover increased insurance costs amid the conflict in Gaza.
The company will add an emergency risk surcharge of $50 per 20-foot container and $100 per 40- and 45-foot container to all new shipments to Israel from January 8, it said in a note to customers on its website on Thursday.
"Since the initial escalation in October, all vessels calling Israeli ports have been subject to an increased insurance premium due to the ongoing risk in and around the area," the company said.
"Covering the additional insurance has enabled us to keep operations moving as steadily as possible and secure capacity in the market for our customers over the final three months of the year.
"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) for all customer cargo discharged at Israel terminals.
"The surcharge will be used to accommodate additional insurance costs and ultimately ensure a continued and sustainable service for our customers to Israel."
Ships linked to Israel have increasingly been targeted for drone attacks, missile strikes and boardings since October.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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