Hapag-Lloyd establishes Marine Fuel Recovery mechanism
Hapag-Lloyd has established its Marine Fuel Recovery (MFR) mechanism, which will be implemented from 1 January 2019, to prepare for the International Maritime Organization (IMO) sulphur cap regulation.
The IMO regulation will cut compliant fuel oil from 3.5% to 0.5% in order to reduce sulphur oxide (SOx) emissions from ships as of January 2020.
Hapag-Lloyd has said that the key to remain compliant is to switch to low-sulphur fuel oil (LSFO), which is what the majority of all vessels are expected to be operated with by then.
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