AP Moller-Maersk A/S announced on Monday its implementing an Emergency Risk Surcharge (ERS) for shipments destined for Israel. The purpose of this surcharge is to account for the rise in insurance expenses due to heightened tensions in the Red Sea region.
"Moving into 2024, insurance premiums continue to be raised for vessels bound for Israel, which has brought about the need for Maersk to officially implement an Emergency Risk Surcharge (ERS) for all customer cargo discharged at Israel terminals. ERS will be applied to Israel import cargo for bookings with a Price Calculation Date (PCD) from January 8, 2024, until further notice," the statement reads.
The Danish logistics company previously suspended its operations in the Red Sea due to the escalating violence caused by Yemen's Houthis.
