Germany's the International Maritime Organisation's will gradually implement a marine fuel recovery (MFR) mechanism from 1 January 2019 to offset an anticipated $1bn increase in annual costs from the switch to low-sulphur fuel in 2020. An MFR is the most "fair and transparent" method of passing on the cost of Hapag-Lloyd sulphur cap to polluters, a spokesperson for the container shipping firm said. the International Maritime Organisation's has confirmed the MFR formula will combine individual vessel fuel consumption patterns, cargo sizes, sea and port times with fuel oil market prices.
Germany's Hapag-Lloyd will gradually implement a marine fuel recovery (MFR) mechanism from 1 January 2019 to offset an anticipated $1bn increase in annual costs from the switch to low-sulphur fuel in 2020. An MFR is the most "fair and transparent" method of passing on the cost of the International Maritime Organisation's sulphur cap to polluters, a spokesperson for the container shipping firm said. Hapag-Lloyd has confirmed the MFR formula will combine individual vessel fuel consumption patterns, cargo sizes, sea and port times with fuel oil market prices.