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 Informal Rate Agreement carriers raise TARS, FAF rates
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Informal Rate Agreement carriers raise TARS,
FAF rates
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THE 19-member lines of the Informal Rate Agreement (IRA) have decided to increase their temporary additional risk surcharge (TARS), and fuel adjustment factor (FAF) as of March 31.
The group said they have raised their rates because of recent increases in additional premiums assessed by insurance underwriters for vessels in the Middle East.
The increases include a TARS of US$97 per TEU for Far East/Middle East/Far East shipments (excluding Iraq), and also $4.85 per revenue tonne for Far East/Middle East/Far East less than container load shipments. The group added TARS for shipments to and from Iraq will be given at time of quotation.
Meanwhile, IRA members said that because of increased bunker prices, which has triggered an adjustment in the agreed FAF, they have decided to increase their FAF by $90 per TEU for Far East/Middle East/Far East shipments.
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