Financial Daily from THE HINDU group of publications
Friday, Jun 28, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 28, 2002 |
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Logistics
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Shipping War-risk levy at ports north of Mumbai Our Bureau
KOLKATA, June 27 THE member lines of the India/Pakistan/Bangladesh/Ceylon (IPBC) Conference serving the trade route between some west coast ports and Europe have announced a war risk surcharge of $25 per TEU with effect from July 1. The move, according to an IPBC Conference notification, follows a decision by insurance underwriters to cancel contracts for ports north of Mumbai. This means the move will affect the calls to container terminals at the Mumbai and Jawaharlal Nehru ports. The IPBC decision will also affect two ports in Pakistan, namely Karachi and Qasim, it is learnt. Earlier, the feeder operators serving the trade route between the Indian sub-continent and West Asia ports announced an additional war risk surcharge of $50 per TEU for laden containers. The surcharge affects containers moving in and out of the ports of Mumbai, Jawaharlal Nehru, Kandla and Pipavav in India and Karachi and Qasim in Pakistan.
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