Hapag-Lloyd has introduced a war risk surcharge for Gulf cargo, effective March 2, amid rising tensions and security concerns in the region.
German shipping group Hapag-Lloyd has introduced a war risk surcharge for cargo to and from the Upper Gulf, Arabian Gulf, and Persian Gulf, effective March 2 until further notice, reports London's Middle East Online.
The surcharge is set at US$1,500 per TEU for standard containers and $3,500 per container for reefers and special equipment. This charge will be borne by the booking party, typically the shipper or forwarder, reflecting the higher costs and risks associated with navigating volatile Gulf waters.
Hapag-Lloyd cited the dynamic situation around the Strait of Hormuz and the need for enhanced security measures as reasons for this decision. The move comes as carriers adjust their operations amid escalating conflict in the Middle East.
Maersk and CMA CGM have paused or rerouted sailings through the Bab el-Mandeb Strait, diverting vessels around the Cape of Good Hope. Additionally, CMA CGM has introduced an emergency conflict surcharge covering destinations across the Gulf, Red Sea, and Horn of Africa.
Ports such as Jebel Ali in Dubai have temporarily suspended operations following reports of missile activity. Insurers have cancelled or sharply raised war risk premiums for vessels transiting the Gulf and Strait of Hormuz, with rates increasing by up to 50 percent from previous levels of about 0.25 percent of a ship's replacement value.
The measures underscore the severe impact of the conflict on maritime trade routes, particularly the Strait of Hormuz, which is a chokepoint for 20-30 percent of global seaborne oil and significant liquefied natural gas volumes. Longer voyages, higher insurance costs, and surcharges are expected to drive up freight costs and strain supply chains.
