Running for cover

摘要

Additional insurance for ships calling at ports deemed 'risk' areas by Lloyds of London after the terrorist attacks in the US on September 11,2001, is generally considered to be necessary by the shipping industry. War risk surcharges have been implemented by many shipping conferences. However, although ocean carriers have done their best to advise their customers of the additional war risk surcharges, the secrecy over how the charges are calculated has provoked antagonism from shippers. In their defence, they say the calculation method is complex and the impact varies between conferences, ocean carriers and trade lanes. Staff and bunker costs are additional cost factors in the overall equation, and the age of vessels, which determines their respective hull values, also helps to differentiate the cost implications for each carrier.