31OCT2019 - NEWS - Hapag-Lloyd Intros IMO2020 Transition Charge

German international shipping and container transportation company Hapag-Lloyd has introduced IMO2020 Transition Charge (ITC) for short-term contracts.

The introduction of the IMO2020 sulfur cap as of 1 January 2020 marks a milestone for the shipping industry to reduce marine pollution and become more sustainable, said a press note from the cargo container shipping line.

Hapag-Lloyd has taken various actions to be fully compliant with the new regulations. Adjusting to IMO2020 comes along with significantly higher costs for the whole industry.