Cosco Sets War-Risk Surcharge in Libya

5/17/2011 9:41:11 AM

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.   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.   The Journal of Commerce Online

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