Low Water Surcharge (LWC) - Manaus 2026 – Update #3

As part of our continuous monitoring of river conditions in the Amazon region, in Brazil, Maersk has previously communicated its assessment of the 2026 dry season through the 17 July 2026 River Conditions in Manaus – Dry Season Period 2026 Advisory and the subsequent 31 July 2026 Low Water Surcharge (LWC) – Manaus 2026 Advisory, to provide customers with early visibility and planning predictability, regarding the potential navigation restrictions expected during the dry season.

Based on the latest assessment of river conditions (based on the Western Amazon River Authority (Capitania Fluvial da Amazônia Ocidental), National Water Agency (ANA) and our predictive analysis) the highest probability of increased operational impact is expected between weeks 42 and 47, when worsening navigability conditions may result in significantly increased restrictions, including the potential need to operate through floating piers.

LWC Adjustment Due to Worsening Navigability Conditions

As previously communicated, the current LWC was established to address the operational and capacity constraints associated with low-water conditions.

Also as previously communicated, should river conditions deteriorate to the point where floating-pier operations become necessary, the operational scenario changes materially. Such operations may require extraordinary costs with terminal operators and barge providers, additional cargo handling, partial offload at Itacoatiara floating pier or full offload at Itacoatiara floating pier (which will happen if river levels fall below 17.20m and vessels cannot reach Manaus), temporary storage, equipment repositioning, additional resources and other measures necessary to maintain cargo transportation and service continuity.

Accordingly, in above cases the LWC will be adjusted for the period in which the floating-pier operational scenario effectively materializes and requires such extraordinary measures, to reflect additional operational costs associated with reliance on the Itacoatiara pier.

This is an adjustment to the existing LWC, to be applied only while the floating-pier is needed, and is not an additional surcharge on top of the previously communicated LWC. When the floating pier is no longer needed, the LWC will return to its original- tariff amount.

The adjustment to the Low Water Surcharge (LWC) will apply, to shipments to and from Manaus, effective from the dates below and until further notice, until floating pier is no longer needed, and where the forecasted navigability restrictions effectively materialize and result in operational impacts requiring extraordinary operational measures to maintain transportation services.

Origin Region: All Regions (except Manaus exports)
Effective PCD: September 25th, 2026

Origin Region: Manaus Exports
Effective PCD: October 16th, 2026

Tariff: USD 4.646 per DRY container (all types) under the floating-pier operational scenario. For reefers, and DG (dangerous carga) please contact your local representative.
Price Calculation Date (PCD): Based on average transit time from each region of origin, to align with expected river restrictions.

The implementation period, pricing and operational planning are determined using a combination of historical river-level patterns, official hydrological information, bathymetric surveys, technical navigability assessments, forecasted river conditions and expected operational impacts on service continuity. These assessments are continuously reviewed throughout the low-water season to ensure that the surcharge remains aligned with actual operational requirements.

PCD Guidelines

• Non-FMC trades: PCD is the scheduled departure date of the first water leg at the time of booking confirmation (non-spot bookings).
• FMC trades: PCD is the last container gate-in date (non-spot bookings).
• Spot bookings: PCD is the booking confirmation date.
  FMC refers to the Federal Maritime Commission, for trades subject to the US Shipping Act.

Basis for the Adjustment

The adjustment reflects the materially different operational requirements and additional costs associated with worsening navigability conditions.

Depending on the actual river conditions, these may include, but are not limited to:

• Significant vessel draft restrictions;
• Further reduction in vessel carrying capacity;
• Partial or full cargo offloading at the Itacoatiara floating pier;
• Additional transshipment requirements;
• Additional cargo handling;
• Temporary storage;
• Equipment repositioning;
• Additional inland or marine operational resources;
• Additional operational coordination and resources required to maintain service continuity; and
• Other reasonable operational measures are required to safely transport cargo to or from Manaus.

The LWC is, therefore, intended to recover the additional operational costs required to maintain transportation services under restricted navigation conditions and is not intended as a margin action.

Important Notes

• To promote transparency and better predictability, Maersk recommends that customers consider using Collect payment terms for the Low Water Surcharge (LWC) - whenever commercially feasible and contractually permitted. Under this arrangement, invoicing occurs closer to cargo arrival, allowing Maersk to assess the river conditions, navigability restrictions and operational impacts applicable to the specific shipment upon arrival at destination, avoiding invoicing if such restrictions do not materialize.
• If customers decide not using Collect payment terms as per the recommendation above, a dispute of the LWC may be requested if, at the actual time of their cargo arrival, restrictions don´t effectively materialize and don´t impact the shipment, based exclusively on the recommended maximum draft by Port Authority, according to Law n. 9.537/1997.
• Any further adjustment to the LWC will be communicated through a revised advisory in accordance with applicable notice requirements, at least 30 days before the new PCD.
• The application period is based on historical patterns and current forecasts. The applicable LWC will remain subject to the actual operational scenario and conditions described in this advisory.
• River Depth measures are based on official bathymetry from the National Water Agency (ANA), Capitania Fluvial da Amazônia Ocidental (CFAOC) and analyzes of our specialized team.
• The LWC will cease once sailing conditions return to normal, subject to actual river conditions and operational requirements.

Maersk will continue to monitor the river conditions, navigability restrictions, and operational requirements throughout the low-water season. The company remains committed to ensuring that the Low Water Surcharge reflects actual operational needs, is applied based on objective and verifiable criteria, and complies with all applicable legal and regulatory requirements.

Updates will be communicated as conditions evolve to provide customers with maximum visibility and planning certainty, while maintaining safe and reliable transportation services.

For any questions or planning support, please contact your Maersk representative.