Transportation companies plying the three sea transportation routes from Taiwan to the Middle East have reached an agreement to add a war risk surcharge on transport beginning this Monday.
The planned surcharge for a 20 foot container will be between US$350 and US$600, while that figure will jump to between US$700 to US$1,200 for a 40 foot container.
Insurers worldwide are trying to absorb losses that may top US$70 billion from the attacks involving four hijacked airliners that struck at the US on Sept. 11 and adjust for increased risks as the US prepares to retaliate.
Shipping companies are among the industries affected, especially those serving the Middle East, a region that might become the center of US action against terrorism.
The extent of the fees will be decided soon and clients will be informed of its implementation.
Also affected will be routes from the Far East to Europe, and from the Far East to the Mediterranean Sea. Companies operating in the Middle East can enter directly into the harbors in the area, while companies operating in Europe and the Mediterranean have to pass through the Persian Gulf and the Red Sea.
The 100-year old Far Eastern Freight Conference on Monday informed the European consignment association that transportation fees to the Middle East would rise this coming Monday.
Member companies of the Middle East Rate Association that operate directly in the Middle East held a meeting in Hong Kong on Monday without arriving at an agreement on how to deal with the situation
However, harbor authorities in Keelung have already been informed of the intention to add war risk surcharges.
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