Cosco Container Lines announced a war-risk surcharge on all shipments from the Far East and the Indian subcontinent to ports in Libya.The surcharge will be $200 per 20-foot equivalent unit and “will take effect when the Libya Service resumes,” the Chinese carrier said, Journal of Commerce reports. Cosco’s move follows similar emergency surcharge announcements by United Arab Shipping Co. and Hapag-Lloyd, citing additional operational costs because of the escalating civil unrest in the North African country.
Separately, Cosco said it would apply a peak-season surcharge on the westbound trades from the Far East (including Japan) and the Indian subcontinent to northern and western Europe and the Mediterranean.
Starting June 1, the peak-season surcharge will be $200 per TEU.
Separately, Cosco said it would apply a peak-season surcharge on the westbound trades from the Far East (including Japan) and the Indian subcontinent to northern and western Europe and the Mediterranean.
Starting June 1, the peak-season surcharge will be $200 per TEU.