EMERGENCY SURCHARGE

In contending with developing security incidents in the Red Sea area, shipping lines have determined it necessary to re-route vessels via Africa’s Cape of Good Hope avoiding the Suez Canal.  Inevitably, this is likely to adversely impact container availability, space and scheduling integrity.  To recoup associated charges thereto, shipping lines introduced an Emergency Surcharge (“ES”).  In instructing Regency to progress a shipment on its behalf, importers understand and agree to settlement of the said ES which is in addition to existing rates.