German container liner Hapag-Lloyd will be forwarding a USD 1 billion bill onward to its customers after incurring higher costs from more expensive fuel when the global sulfur cap takes effect from 2020.
By that time, the global fleet of ships will have to comply with the new sulfur regulations requiring vessels to sail on cleaner – but also more expensive – low-sulfur marine fuel. This will cost the Hapag-Lloyd an extra USD 1 billion.
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