09OCT2018 - NEWS - Container line Hapag-Lloyd announces introduction of low sulphur fuel charge

Hapag-Lloyd is the latest major container line to announce a fuel charge to cover the costs of using compliant low sulphur fuel for the 2020 sulphur cap. According to the announcement from the Hamburg-headquarted, the company would be gradually implementing a new Marine Fuel Recovery (MFR) mechanism from 1 January 2019 to replace existing fuel surcharges. With the German line to primarily use low sulphur fuels to meet the 0.5% sulphur cap for its fleet of 226 ships it estimates an additonal fuel bill of $1bn annually based on a $250 spread in the price of low sulphur and high sulphur fuel per tonne.

Published by Editor - www.Livebunkers.com at 09-Oct-2018 07:12:40 [UTC] , contact editor at editor@livebunkers.com