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Saturday, May 18, 2002

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Shipping bodies reduce war risk surcharges

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AT least three major shipping conference have lowered their war risk surcharges following reduced insurance premia.

The revised surcharges came into effect from May 14.

Thus the member lines of the India,Pakistan,Bangladesh and Ceylon (IPBC) Conference have lowered their surcharges for vessels serving Pakistan from $33 to $28 per TEU. For cargo transhipped via Colombo the surcharge however remains unchanged at $10 per TEU.

The member lines of IPBC Conference include, among others, the Shipping Corporation of India, Pakistan National Shipping Corporation, Bangladesh Shipping Corporation, CMA-CGM, Contship, Evergreen, Hapag-Lloyd, K Line, Malaysian International Shipping Company, Maersk Sealand, P&N, Rickmers, Safmarine,Yang Ming and Zim.

The Jedda Service group (JSG) too has lowered its surcharge for vessels serving Jeddah port from $41 to $18 per TEU and the Europe Middle East Rate Agreement (Emera) has reduced its war risk surcharge for vessels calling at Gulf ports from $22 to $17 per TEU.

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