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    ECSA, ICS welcome EU decision to recognise training and certification of Filipino seafarers

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    ReCAAP ISC: Four armed robbery incidents in Singapore Strait

    recaap isc armed piracy

    Pirates kidnap Monjasa tanker crewmates off the Gulf of Guinea

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    aquatic environments ammonia spills

    OCEAN project aims to support the High Seas Treaty

    EU Emissions Trading System

    ECSA, CLIA advocate for more renewable and low carbon fuels in Europe

    IMO: 20 States in total have ratified the Hong Kong Convention

    IMO: 20 States in total have ratified the Hong Kong Convention

    World’s first hydrogen dual fuel straddle carrier launches in Port of Antwerp

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    WFW: ESG focused joint ventures are on the rise in shipping

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SAFETY4SEA

CMA CGM announces War Risk Surcharge in Middle East

by The Editorial Team
July 2, 2019
in Alerts, Shipping
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CMA CGM informed that after considering the recent incidents in the Strait of Hormuz and the related significantly increasing insurance costs in the Middle East Gulf region, it decided to implement a War Risk Surcharge.

The War Risk Surcharge will apply from July 5th, 2019, for all trades, except USA and China (August 1st, 2019):

From/To Oman, the UAE, Qatar, Bahrein, Saudi Arabia (Dammam and Jubail), Kuwait, Iraq.

CMA CGM added that additional countries might be added depending on the situation in the area.

RelatedNews

EIA: U.S. natural gas production grew by 4% in 2022

EIA: Records US crude oil exports in 2022

This comes on the aftermath of two tanker attacks at the Strait earlier in June, which escalated the existing tension between Iran and the US.

On Thursday, 13 June, the Panamanian flagged tanker ‘Kokuka Courageous’ and the Marshall Islands-flagged tanker ‘Front Altair’, were hit in two subsequent suspected attacks in the Gulf of Oman, which left the one vessel ablaze and both adrift.

The incident came only a month after a similar incident in which four tankers were struck off Fujairah.

The US has accused Iran of being behind the attacks in the major strategic waterway for world oil supplies, which caused oil prices to surge by 4%. Iran rejects the allegation.

The US Navy has had a permanent presence in the Persian Gulf since 1949.

Tags: CMA CGMIransurchargeUSWar Risks

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