Maersk making euro tariff conversion for Europe/Oceania services

Maersk Line will change the tariff currency from U.S. dollars to euros on shipments from Europe and North Africa to Australia, New Zealand and the South Pacific Islands, effective April 1.

The change is due to the volatility of the U.S. dollar at a time where an increasingly high proportion of the line's costs are settled in euros, the Danish carrier said in a statement.

The exchange rate, which will be used for the conversion, is the European Central Bank Euro Foreign Exchange Reference rates on Feb. 14.

The U.S. dollar will continue as Maersk's tariff currency for cargo originating in the Middle East and South Asia for destinations in Oceania and the northbound trade from Oceania to the Middle East, South Asia, and Europe.

Maersk said it would honor commitments to customers with contracts in U.S. dollars extending beyond April 1.

Source:American Shipper