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Hapag-Lloyd levies IMO 2020 surcharge December 1 as fuel costs soar

GERMAN shipping giant Hapag-Lloyd will levy an IMO 2020 Transition Charge for short-term contracts from December 1 to mitigate the United Nations mandate to use costly low-sulphur fuel or install scrubbers to reduce air pollution, the company announced

Hapag-Lloyd levies IMO 2020 surcharge December 1 as fuel costs soar

GERMAN shipping giant Hapag-Lloyd will levy an IMO 2020 Transition Charge for short-term contracts from December 1 to mitigate the United Nations mandate to use costly low-sulphur fuel or install scrubbers to reduce air pollution, the company announced

31 October 2019 - 19:00

GERMAN shipping giant Hapag-Lloyd will levy an IMO 2020 Transition Charge for short-term contracts from December 1 to mitigate the United Nations mandate to use costly low-sulphur fuel or install scrubbers to reduce air pollution, the company announced.

'Switching from high-sulphur fuels to the new low-sulphur fuel will inevitably result in higher fuel prices in the short term. Volatility is also expected to increase, particularly during the transition period. Given these circumstances, we will implement the ITC to cope with the additional costs as well as to have a sustainable and transparent method of pricing our services for our customers,' said Hapag-Lloyd CEO Rolf Habben Jansen.



Adjusting to IMO 2020 comes along with significantly higher costs for the whole industry. The new charge applies to freight of all kinds cargo and spot business with a validity up to three months. Tender business will not be affected by the charge.


WORLD SHIPPING

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