2020 March 23 13:32

Hapag-Lloyd announces adjustments to Marine Fuel Recovery during Corona situation

The spread of the Corona virus is impacting the global economy and societies as well as all parts of Hapag-Lloyd mutual business with most of Hapag-Lloyd business entities working in crisis mode. Some production sites as well as customers’ administration offices have been closed or scaled down for the next weeks and also Hapag-Lloyd took pre-cautions to protect its employees with most of our commercial teams implementing Business Continuity Planning including working remotely where practical.

Under the prevailing circumstances and with global fuel price fluctuations and uncertainties being far away from normal, Hapag-Lloyd decided to set out any interim adjustments to Hapag-Lloyd already announced reduced Marine Fuel Recovery (MFR) values effective from April 1, 2020 valid for Q2 2020.

Hapag-Lloyd expects and hopes for the whole situation to normalize in the course of Q2 2020 and Hapag-Lloyd plans to adjust the MFR values under Hapag-Lloyd normal quarterly review process for Q3 2020 effective July 1, 2020.