The project heavy-lift carrier, AAL Shipping has decided to introduce an Emergency Red Sea Surcharge (ERSS) for any affected AAL sailings through the Red Sea. The decision has been made in light of the escalating threat to normal shipping operations through the Red Sea, and the significant increase in insurance premiums for any commercial sailings through the region.

This surcharge will be initially applied to the AAL Newcastle v. 23005 sailing for $3.00/RT and will come into effect immediately.

With insurance premiums volatile, and rates likely to rise or fall accordingly, the ERSS is subject to change at any time and without notice. The company said it is monitoring the situation closely and will advise of any changes affecting the same.

The decision has also come parallel to the major container carriers deciding to divert their sailings the long way around Africa.

Furthermore, to help vessels transit, Operation Prosperity Guardian was launched on Tuesday. It is a multinational security initiative under the umbrella of the Combined Maritime Forces and the leadership of its Task Force 153, which focuses on security in the Red Sea.

Operation Prosperity Guardian brings together the United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain, to jointly address security challenges in the southern Red Sea and the Gulf of Aden, to ensure freedom of navigation for all countries and bolster regional security and prosperity.