German container line Hapag-Lloyd is introducing a transition charge to cope with the volatility expected around the IMO 2020 fuel rule change on 1 January.
The ITC fee will apply to short-term contracts as the owner deals with "significantly higher costs".
"To mitigate fuel price volatility and transitional operational expenses, Hapag-Lloyd will introduce an IMO 2020 Transition Charge (ITC) for short-term contracts as of 1 December 2019," it said.
