STL Shipping AB as agents for EUKOR Car Carriers Inc. are informing of a new, extra emergency surcharge levied for all cargoes, without exception, carried by EUKOR Car Carriers Inc. navigating the Strait of Hormuz.

QUOTE:

Please note that due to the recent events of two ocean tankers being attacked (in the area mentioned above) additional insurance premiums for navigation in the Gulf of Oman and Strait of Hormuz have dramatically increased as a direct effect of the unstable situation in the area. Due to the dramatic insurance increase an Emergency Insurance Premium Surcharge (EIPS) is inevitable in order to continue our services.

Accordingly, as from July EUKOR will be implementing EIPS of USD 3.00 per cubic meter for all Persian Gulf destined cargo.

Included in this surcharge will be cargo passing through all ports west of longitude 58E, including but not limited to Sohar, Jebel Ali, Abu Dhabi, Dammam, Bahrain, Kuwait, Doha, Hamad and Umm Qasr.

The first applicable vessel will be AGEX I in July – m/v Morning Crown” MCN137 or sub.

In addition to the above we have stopped accepting military cargo to all above desitnations with immediate effect, This is also applicable for cargo carried on AGEX vessels to other than the above mentioned destinations.

As the additional insurance premiums are outside of our control we hope for your understanding during this volatile and distressful time and trust this will not affect our historic and future business relationship.

We will be monitoring the situation closely and will make necessary service arrangements if such are required in order to maintain compliancy with prevailing risk and insurance requirements.

END QUOTE.

For our STL Shipping clients and customers, where necessary, we are forced to pass on this extra surcharge. For our customers please note that the surcharge is called ‘EIPS’.

With any questions or for more information please don’t hesitate to contact your STL representatives.