Hapag-Lloyd Introduces Global Vessel Risk Surcharge for Arabian Gulf Cargo

Hapag-LloydSource: Pixabay under CC0 Creative Commons license

German container shipping company Hapag-Lloyd has decided to implement a vessel risk surcharge (VRS) following recent maritime incidents in the Gulf of Oman. 

The company 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.

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.

Depending on risk situation, the company may add additional countries as well as consider increase or mitigation of abovementioned 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 soon, according to Hapag-Lloyd.

Earlier this week, another container shipping major, Swiss Mediterranean Shipping Company (MSC), announced plans to implement a war risk surcharge for all cargoes moving to/from the Arabian Gulf.

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