Efficient handling of mobile nodes in a multicast environment is a non-trivial task. Solutions based on bi-directional tunneling introduce encapsulation and triangular routing. Those that use remote subscription need tree reconstruction, which is inefficient for rapidly moving nodes. In this paper we propose the M-HBH (Mobile Hop By Hop) multicast routing protocol which uses a recursive unicast addressing mechanism. M-HBH reduces routing triangles, limits tree reconstruction, avoids encapsulation and tunneling, can be progressively deployed, and handles asymmetric routes. We analyze the performance of the protocol based on both mathematical models, and simulated Internet-like topologies. Simulation results show important gains on average delivery delay for both source and receiver mobility.