Pirate-war risk prompts MOL to levy insurance surcharge March 15

JAPANESE shipping giant MOL has announced an Emergency Risk Insurance Surcharge (ERS) for trade lanes to and from Pakistan, Indian Ocean, Arabian Sea, Gulf of Oman and Middle East from March 15.


The ERS rates are US$25 per TEU and $50 per FEU and high cube container.


This is in conformity with the recently reviewed hull insurance premiums suggested by the Joint War Committee, which represents the interests of the London marine insurance community and is constituted of members of the Lloyd's Market Association (LMA) and the International Underwriting Association (IUA).
(Source:http://www.schednet.com)