Shipping firms impose extra fees on trade

OSLO/PARIS, Dec 24 (Express Tribune): Some of the world's largest shipping firms, including Maersk and CMA CGM, will impose extra charges after they re-routed ships in response to attacks on vessels in the Red Sea, as worries about disruption to global trade grow.
The surcharges, designed to cover longer voyages around Africa compared with routes via the Suez Canal, will add to rising costs for sea transport since Yemen's Houthi militant group started targeting vessels.
Maersk and CMA CGM were the first to introduce the fees, followed by Germany's Hapag-Lloyd later on Friday.
The three are among leading shipping lines to have suspended the passage of vessels through the Red Sea that connects with the Suez Canal, the quickest sea route between Asia and Europe.
Instead, they are directing ships around the Cape of Good Hope at the southern tip of Africa, adding about 10 days to a journey that would normally take about 27 days from China to northern Europe.