Shipping to and from Israel
The Israeli container carrier Zim recently confirmed that, besides deploying its vessels for ‘national needs’, the shipping line will continue its civil business and continue to accept bookings and transport containers to and from Israel.
Nevertheless, Hill Dickinson, an international commercial law firm headquartered in Liverpool, stated that “Israel is already amongst those countries in the Middle East that are considered a high-risk area by the insurance market, and the risk has now ballooned.”
Insurance companies are taking their toll there, with premia having significantly increased, by up to 1,000%. The sums to be paid vary “around 0.15 – 0.2% of the value of a vessel, compared with premia of 0.0125% earlier this year,” as Hill Dickinson pointed out.
Despite earlier missile attacks, the ports in Ashdod, Haifa and Eilat have functioned as usual since 15 October. Large carriers such as MSC and Maersk are continuing their operations all over the region. Operations in Israeli ports face additional security checks, however, and are also hampered by labour shortages. Yet, as Hill Dickinson put it, “trade needs to continue regardless. Nearly all of Israel’s foreign trade is by sea.” (cd)