Shipment Insurance Update:
We have bee notified by a few clients over the last 24 hours that their Insurance Underwriters have notified them of a change in their Marine Insurance coverage on any shipments moving near the Red Sea or the Suez Canal.
We would recommend that all clients check with their Insurers to see if they could be impacted by a change in coverage. It is important to note that GPSM are not involved in Marine Insurance coverage nor do we have any control over actions taken by shipping lines who despite advising that most of their services are avoiding the Middle East conflict area and transiting to/from Europe via Cape of Good Hope, may at any time decide to alter that decision and divert vessels via the Red Sea or Suez Canal.
Please note that GPSM will not be liable for any claims, damages or losses as a result of the change in policy by insurers or shipping lines during the current conflict.
Australian Port Infrastructure Levy Charge:
Terminal operators have announced an increase in the Port Infrastructure Levy charge as advised in an earlier GPSM Newsflash, from 1st February 2024 the new cost for Sydney, Melbourne and Brisbane will be $ 245.00 per container, the GPSM rate portal will reflect the new charges from that date.