Announcement of charges in relation to Red Sea / Gulf of Aden situation - from Far East Asia (2024)

Advisories

Updated 22 May 2024

Asia Pacific Europe India Middle East and Africa Latin America North America

As of 19 December2023, Maersk announced that all its vessels will be temporarily diverted around the Cape of Good Hope due to the situation in the Red Sea / Gulf of Aden.

As we shared in our 6 May update, the complexity of the situation in Red Sea and the ripple effects on global supply chains have intensified in recent months causing industry-wide disruptions

Despite hopes that the situation would improve, we continue to face additional challenges and costs. These include but are not limited to the costs of the longer journeys and increased sailing speed to make up for delays. This has led to additional fuel costs and high charter rates, while operational bottlenecks have absorbed and reduced available capacity. We are doing what we can to add further capacity to our routes, in line with our customers’ needs. So far, we have leased more than 125,000 additional containers and have increased our sailing speed, as well as organised our fleet to enhance capacity where possible.

Consequently, some surcharges will increase temporarily, as shown in the table below. For the trades not mentioned, there will be no changes for now to the Peak Season Surcharge (PSS) and Temporary Disruption Surcharge (TDS) beyond those previously announced on 16 May.

If you have any questions, please contact your local Maersk representative.

Peak Season Surcharge (PSS)

Headhaul trades (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Headhaul trades (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - rate valid till 04 June PCD

Charge name

PSS

20DRY

750

40DRY

1,500

20 Reef

750

40HREF / 45 HDRY

1,500 / 1,500

Headhaul trades (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - Change effective from 05 June PCD

Charge name

PSS

20DRY

1,000

40DRY

2000

20 Reef

1000

40HREF / 45 HDRY

2000 / 2000

Headhaul trades (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - rate valid till 04 June PCD

Charge name

PSS

20DRY

750

40DRY

1,500

20 Reef

750

40HREF / 45 HDRY

1,500 | 1,500

Headhaul trades (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - Change effective from 05 June PCD

Charge name

PSS

20DRY

1,000

40DRY

2000

20 Reef

1000

40HREF / 45 HDRY

2000 | 2000

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG,SOC and NOR containers also. So 40 Flat/Open/NOR will have the same rate as 40 Dry.

Peak Season Surcharge (PSS)

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG,SOC and NOR containers also. So 40 Flat/Open/NOR will have the same rate as 40 Dry.

On 5 January 2024, Maersk announced, that to prioritize the safety of our seafarers and your cargo, and in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden, all its vessels will be temporarily diverted around the Cape of Good Hope for the foreseeable future. By temporarily suspending voyages through the Red Sea / Gulf of Aden, we hope to bring our customers more consistency and predictability despite the associated delays that come with the re-routing. However, this has ultimately brought about increased costs as we try to mitigate the severe disruptions and ripple effects of the ongoing situation.

As previously mentioned in our advisory, our teams will continue to evaluate the impact of the situation and review the surcharges depending on the circ*mstances.

Basis the recent review, please find the changes to the Peak Season Surcharge (PSS) for certain trades mentioned in the table below.

For the trades not mentioned in today’s advisory, there will be NO changes to the rate levels for PSS and TDS beyond what was previously announced in our advisory updated further below on this page.

Please note that the rate applicable for Maersk SPOT and Maersk GO bookings have been adjusted to reflect circ*mstances at the time of booking. The current rate for TDS, ECS and PSS will not be added unless expressly stated in the price breakdown. For contracts with less than 1M validity & OOG, please consult your sales representatives on the applicability of ECS and PSS.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

Peak Season Surcharge (PSS)

Headhaul trades (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Headhaul trades (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - rate valid till 31 Mar PCD

Charge name

PSS

20DRY

400

40DRY

800

20 Reef

400

40HREF / 45 HDRY

800 / 800

Headhaul trades (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - Change effective from 01 April PCD

Charge name

PSS

20DRY

250

40DRY

500

20 Reef

250

40HREF / 45 HDRY

500 / 500

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG,SOC and NOR containers also. So 40 Flat/Open/NOR will have the same rate as 40 Dry.

On 5 January 2024, Maersk announced, that to prioritize the safety of our seafarers and your cargo, and in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden, all its vessels will be temporarily diverted around the Cape of Good Hope for the foreseeable future. By temporarily suspending voyages through the Red Sea / Gulf of Aden, we hope to bring our customers more consistency and predictability despite the associated delays that come with the re-routing. However, this has ultimately brought about increased costs as we try to mitigate the severe disruptions and ripple effects of the ongoing situation.

As previously mentioned in our advisory, our teams will continue to evaluate the impact of the situation and review the surcharges depending on the circ*mstances.

Basis the recent review, please find the changes to the Peak Season Surcharge (PSS) for certain trades mentioned in the table below.

For the trades not mentioned in today’s advisory, there will be NO changes to the rate levels for PSS and TDS beyond what was previously announced in our advisory updated further below on this page.

Please note that the rate applicable for Maersk SPOT and Maersk GO bookings have been adjusted to reflect circ*mstances at the time of booking. The current rate for TDS, ECS and PSS will not be added unless expressly stated in the price breakdown. For contracts with less than 1M validity & OOG, please consult your sales representatives on the applicability of ECS and PSS.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

Peak Season Surcharge (PSS)

Trade lane (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Trade lane (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - rate valid till 14 Mar PCD

Charge name

PSS

20DRY

500

40DRY

1000

20 Reef

500

40HREF / 45 HDRY

1000 / 1000

Trade lane (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR) - Change effective from 15 Mar PCD

Charge name

PSS

20DRY

400

40DRY

800

20 Reef

400

40HREF / 45 HDRY

800 / 800

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG,SOC and NOR containers also. So 40 Flat/Open/NOR will have the same rate as 40 Dry.

On 5 January 2024, Maersk announced, that to prioritize the safety of our seafarers and your cargo, and in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden, all its vessels will be temporarily diverted around the Cape of Good Hope for the foreseeable future. By temporarily suspending voyages through the Red Sea / Gulf of Aden, we hope to bring our customers more consistency and predictability despite the associated delays that come with the re-routing. However, this has ultimately brought about increased costs as we try to mitigate the severe disruptions and ripple effects of the ongoing situation.

As previously mentioned in our advisory, our teams will continue to evaluate the impact of the situation and review the surcharges depending on the circ*mstances.

Basis the recent review, please find the changes to the Peak Season Surcharge (PSS) for certain trades mentioned in the table below.

For the trades not mentioned in today’s advisory, there will be NO changes to the rate levels for PSS and TDS beyond what was previously announced in our advisory updated further below on this page.

Please note that the rate applicable for Maersk SPOT and Maersk GO bookings have been adjusted to reflect circ*mstances at the time of booking. The current rate for TDS, ECS and PSS will not be added unless expressly stated in the price breakdown. For contracts with less than 1M validity & OOG, please consult your sales representatives on the applicability of ECS and PSS.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

Peak Season Surcharge (PSS)

Trade lane (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - rate valid till 10 Mar PCD

Charge name

PSS

20DRY

750

40DRY

1500

20 Reef

750

40HREF / 45 HDRY

1500 / 1500

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - Change effective from 11 Mar PCD

Charge name

PSS

20DRY

500

40DRY

1000

20 Reef

500

40HREF / 45 HDRY

1000 / 1000

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG and SOC containers also. So 40 Flat/Open or SOC will have the same rate as 40 Dry.

On 5 January 2024, Maersk announced, that to prioritize the safety of our seafarers and your cargo, and in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden, all its vessels will be temporarily diverted around the Cape of Good Hope for the foreseeable future. By temporarily suspending voyages through the Red Sea / Gulf of Aden, we hope to bring our customers more consistency and predictability despite the associated delays that come with the re-routing. However, this has ultimately brought about increased costs as we try to mitigate the severe disruptions and ripple effects of the ongoing situation.

As previously mentioned in our advisory, our teams will continue to evaluate the impact of the situation and review the surcharges depending on the circ*mstances.

Basis the recent review, please find the changes to the Peak Season Surcharge (PSS) for certain trades mentioned in the table below.

For the trades not mentioned in today’s advisory, there will be NO changes to the rate levels for PSS and TDS beyond what was previously announced in our advisory updated on 4 January. You can find that advisory further below on this page.

Please note that the rate applicable for Maersk SPOT and Maersk GO bookings have been adjusted to reflect circ*mstances at the time of booking. The current rate for TDS, ECS and PSS will not be added unless expressly stated in the price breakdown. For contracts with less than 1M validity & OOG, please consult your sales representatives on the applicability of ECS and PSS.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

Peak Season Surcharge (PSS) - Price calculation date (PCD) 1 January 2024 until further notice

Trade lane (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - rate valid till 20 Feb PCD

Charge name

PSS

20DRY

1000

40DRY

2000

20 Reef

1000

40HREF / 45 HDRY

2000 / 2000

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED) - Change effective from 21 Feb PCD

Charge name

PSS

20DRY

750

40DRY

1500

20 Reef

750

40HREF / 45 HDRY

1500 / 1500

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG and SOC containers also. So 40 Flat/Open or SOC will have the same rate as 40 Dry.

The A.P. Moller – Maersk group (“Maersk”) is continuing to monitor developments around the Red Sea / Gulf of Aden and making carefully considered changes to services to ensure the safety of our seafarers, vessels and customers’ cargo.

After pausing vessels in the area over the highly escalated security situation, Maersk announced on Tuesday 19 December 2023 that previously paused vessels would be diverted around the Cape of Good Hope for safety reasons and future services would also be the subject of a security evaluation to determine necessary contingencies. This decision was made in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden at this time.

Diverting vessels around the Cape of Good Hope to mitigate the ongoing risks of sailing through the region is a necessary step in the interest of safety, but it has ultimately brought about increased costs for carriers. As such, Maersk is invoking Clause 20(a) of the Terms for Carriage and Clause 22(a) of the House Bill of Lading (whichever is appropriate to the relevant carriage) in order to recover these costs.

The additional freight and costs of carriage under Clause 20(a) of the Terms for Carriage and Clause 22(a) of the House Bill of Lading are set out in the table below. These additional charges are effective immediately until further notice and will apply to bookings from Far East Asia that are subject to diversion. This includes shipments already ‘on the water’ that have been or will be diverted. It will be presented as Transit Disruption Surcharge (TDS) on customer invoices.

In addition, due to severe operational disruption, Maersk is announcing a Peak Season Surcharge (PSS) as set out in the table below until further notice*. This is applicable from 1st January 2024, on all existing and new contracts starting based on market specific price calculation date which in most markets is estimated departure date or gate in of last container on the shipment (subject to any required regulatory approvals and notice periods). Our teams will continue to evaluate the impact of the situation and hope to withdraw surcharges as soon as operationally feasible, however please note that they may also increase depending on the circ*mstances.

We will reach out to customers directly with more specific information related to your shipments as soon as possible.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

TDS/PSS will not be applied to any future Maersk SPOT or Maersk GO bookings.

Clause 20 – Transit Disruption Surcharge (TDS) – Effective immediately for cargo diverted from Suez

Trade lane (USD per container) Trade 20DRY
20REEF
20 NOR
40DRY
40HDRY
45HDRY
40/45NOR
40HREF

Trade lane (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR)

Trade

E1W

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED)

Trade

E2W

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Trade lane (USD per container)

Far East Asia to East Coast North America (P3E - FEA to USEC)

Trade

P3E

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Peak Season Surcharge (PSS) - Price calculation date (PCD) 1 January 2024 until further notice

Trade lane (USD per container) Charge name 20DRY 40DRY 20 Reef 40HREF / 45 HDRY

Trade lane (USD per container)

Far East Asia to North Europe (E1W - FEA to NEUR)

Charge name

PSS

20DRY

500

40DRY

1,000

20 Reef

500

40HREF / 45 HDRY

1,000 / 1,000

Trade lane (USD per container)

Far East Asia to Mediterranean (E2W - FEA to MED)

Charge name

PSS

20DRY

1,000

40DRY

2,000

20 Reef

1,000

40HREF / 45 HDRY

2,000 / 2,000

Trade lane (USD per container)

Far East Asia to East Coast North America (P3E - FEA to USEC) - (from 22 Jan PCD)

Charge name

PSS

20DRY

300

40DRY

600

20 Reef

300

40HREF / 45 HDRY

600 / 600

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG and SOC containers also. So 40 Flat/Open or SOC will have the same rate as 40 Dry.

The A.P. Moller – Maersk group (“Maersk”) is continuing to monitor developments around the Red Sea / Gulf of Aden and making carefully considered changes to services to ensure the safety of our seafarers, vessels and customers’ cargo.

After pausing vessels in the area over the highly escalated security situation, Maersk announced on Tuesday 19 December 2023 that previously paused vessels would be diverted around the Cape of Good Hope for safety reasons and future services would also be the subject of a security evaluation to determine necessary contingencies. This decision was made in the light of the risks, delays and difficulties associated with transiting the Red Sea / Gulf of Aden at this time.

Diverting vessels around the Cape of Good Hope to mitigate the ongoing risks of sailing through the region is a necessary step in the interest of safety, but it has ultimately brought about increased costs for carriers. As such, Maersk is invoking Clause 20(a) of the Terms for Carriage and Clause 22(a) of the House Bill of Lading (whichever is appropriate to the relevant carriage) in order to recover these costs.

The additional freight and costs of carriage under Clause 20(a) of the Terms for Carriage and Clause 22(a) of the House Bill of Lading are set out in the table below. These additional charges are effective immediately until further notice and will apply to bookings to and from Far East Asia that are subject to diversion. It will be presented as Transit Disruption Surcharge (TDS) on customer invoices.

In addition, due to severe operational disruption, Maersk is announcing a Peak Season Surcharge (PSS) for selected markets, as set out in the table below. Our teams will continue to evaluate the impact of the situation and hope to withdraw surcharges as soon as operationally feasible, however please note that they may also increase depending on the circ*mstances.

We will reach out to customers directly with more specific information related to your shipments as soon as possible.

We appreciate your trust, loyalty and understanding during such challenging times. Our teams are here to serve you, so if you have any questions, please don’t hesitate to reach out to your local Maersk representative.

Clause 20 – Transit Disruption Surcharge (TDS) – Effective immediately for cargo diverted from Suez

Trade lane - USD per container 20DRY
20REEF
20 NOR
40DRY
40HDRY
45HDRY
40/45NOR
40HREF

Trade lane - USD per container

Far East Asia to North Europe (E1W - FEA to NEUR)

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Trade lane - USD per container

Far East Asia to Mediterranean (E2W - FEA to MED)

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Trade lane - USD per container

Far East Asia to East Coast North America (P3E - FEA to USEC)

20DRY
20REEF
20 NOR

200

40DRY
40HDRY
45HDRY
40/45NOR

400

40HREF

450

Peak Season Surcharge (PSS) - Price calculation date (PCD) 1January 2024 until further notice

Trade lane - USD per container Charge name 20DRY 40DRY 20Reef 40HREF / 45HDRY

Trade lane - USD per container

Far East Asia to North Europe (E1W - FEA to NEUR)

Charge name

PSS

20DRY

500

40DRY

1000

20Reef

500

40HREF / 45HDRY

1000 / 1000

Trade lane - USD per container

Far East Asia to Mediterranean (E2W - FEA to MED)

Charge name

PSS

20DRY

1000

40DRY

2000

20Reef

1000

40HREF / 45HDRY

2000 / 2000

Trade lane - USD per container

Far East Asia to East Coast North America (P3E - FEA to USEC)

Charge name

PSS

20DRY

300

40DRY

600

20Reef

300

40HREF / 45HDRY

600 / 600

* Subject to any required regulatory approvals and notice periods, after which the surcharge will apply.

If any rate changes in the advisory, it is effective from the date of the new advisory unless specifically mentioned as a different effective date.

PSS will be applied to all cargoes on the trades mentioned above regardless of vessel routings.

The rates apply to all OOG and SOC containers also. So 40 Flat/Open or SOC will have the same rate as 40 Dry.

for further information on the Peak Season Surcharge, please click here

Announcement of charges in relation to Red Sea / Gulf of Aden situation - from Far East Asia (2024)

FAQs

What is the Red Sea emergency surcharge? ›

Following notification of a further, significant increase in insurance premiums required for these sailings – with risk levels elevated – we are increasing our 'Emergency Red Sea Surcharge' (ERSS) with immediate effect for all forthcoming sailings through the region to USD 10.00 per R/T.

What is the problem with Red Sea shipping? ›

The Red Sea shipping crisis — a result of Houthi rebel attacks on cargo ships and tankers — is causing hundreds of vessels to avoid the Suez Canal, one of the world's most important waterways.

What is the problem with Maersk Red Sea? ›

The complexity of the situation in Red Sea has intensified over the last few months. To safeguard our crew, vessels, and your cargo, we are rerouting around the Cape of Good Hope for the foreseeable future. However, the risk zone has expanded, and attacks are reaching further offshore.

What are ECS charges in shipping lines? ›

ECS stands for Emergency Contingency Surcharge and is an additional freight charge being introduced due to the severe disruption associated with the situation.

How much is the Red Sea surcharge? ›

For a standard FEU, the Red Sea surcharge for exports out of the Mediterranean on long-term contracts sits higher than North European exports with a spread of $162. While the market low for both of these trades sits at $400, the market high sits at $1,295 for the Mediterranean and $750 for North Europe.

What is the war risk surcharge in the Red Sea? ›

War risk insurance premiums, which were previously around 0.05% of the insured value of the vessel, have now increased to between 0.75% and 1%. Freight charges and insurance premia for shipping vessels plying on global routes are expected to firm up with heightened tensions between Iran and Israel.

Is Red Sea shipping safe? ›

Regional conflicts in the Middle East raises the security risk to merchant shipping, in particular vessels transiting the Red Sea and GoA. Regional conflicts in the Middle East raises the security risk to merchant shipping, in particular vessels transiting the Red Sea and GoA.

What is the current issue in the Red Sea? ›

The increased traffic taking the longer route to Europe and the Americas sailing down the eastern seaboard of Africa means higher costs and longer waiting times for goods. It also means ships sail down the Somali coast for around 1,000 miles – a possible lure to pirates and criminal gangs.

What is the Red Sea crisis 2024? ›

The end of 2023 and the first quarter of 2024 are marked by major disruptions to global maritime trade flows as ships entering the Gulf of Aden and sailing through the Red Sea and the Suez Canal continue to face attacks by Yemen-based Houthis.

How long will the Red Sea situation last? ›

Ongoing Red Sea situation is expected to last at least into second half of 2024. The ongoing series of attacks on the Red Sea shipping lane by the Yemeni Houthi pirates in response to the ongoing Israel-Palestine conflict continues to resonate within the global supply chain and economy by extension, to be sure.

How long will the Red Sea crisis last? ›

Global Shipping Faces Prospect of Red Sea Diversions All Year. Widespread container-shipping detours to avoid Houthi attacks in the Red Sea are expected to extend well into the second half of this year and maybe into 2025.

Is Maersk leaving Russia? ›

Maersk was the largest container shipping line and vessel operator in the world from 1996 until 2021. Divested all assets from Russia. The Danish shipping company Maersk has stopped the liquidation of its Russian business in 2023. In February 2024, the company received 20 million rubles.

Can I get ECS charges be reversed? ›

Are ECS return charges refundable? Unfortunately, the ECS return charges aren't refundable. How do I avoid ECS return charges? To avoid ECS return charges, you must ensure enough balance in your EMI repayment bank account by the EMI due date.

Who collects ECS charges? ›

It is usually used by loan lenders to periodically debit EMIs from the borrower. ECS debits are handled by the NACH (National Automated Clearing House) under NPCI (National Payments Corporation of India).

How to stop ECS charges? ›

If you'd like to stop ECS payments for some reason, you'll first have to inform the bank that is crediting/debiting payments to and from your account by submitting a written application. Once the request is submitted to the institution, you must fill and submit the ECS mandate cancellation form to your bank.

What is emergency surcharge? ›

This fee is meant to cover the extra expenses incurred by the company due to the crisis. It has been used in the past for natural disasters like hurricanes, earthquakes, or tsunamis, and more recently, it has been used in response to the impact of the COVID-19 pandemic.

What is ocean surcharge? ›

Ocean Freight Surcharge Definitions. EBS = Emergency Bunker SurCharge - Fuel premium added to the freight. Changes on a periodic basis monthly or quarterly depending on fluctuation of oil prices. PSS = Peak Season SurCharge - Surcharge added to cargo moving from ASIA.

How much trade passes through Red Sea? ›

Important as it is, just 11% of global trade flows through the Red Sea. On its own, this isn't enough to disrupt the world economy. “What's harder to assess is whether yet more upheaval in trade routes further undermines policymakers' and corporate trust in long-distance sourcing.

What is the coverage of Red Sea? ›

The sea separates the coasts of Egypt, Sudan, and Eritrea to the west from those of Saudi Arabia and Yemen to the east. Its maximum width is 190 miles, its greatest depth 9,974 feet (3,040 metres), and its area approximately 174,000 square miles (450,000 square km).

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