Refining and Shipping Industries Brace for New Fuel Regulations That Could Raise Prices on Everything from Fuels to Consumer Goods -- Even Cruise Ship Tickets
IHS Markit Ltd. Common Shares (INFO)
Last ihs markit ltd. common shares earnings: 3/24 06:00 am
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Source: Business Wire
IMO regulations will roil oil markets, creating market uncertainty, higher costs, new IHS Markit report says HOUSTON--(BUSINESS WIRE)-- The refining and shipping industries are ill-prepared for a massive change in fuel regulation set to go into effect next year. The resulting market impacts will be major, costly and far-reaching, says a new report from IHS Markit (Nasdaq: INFO), the leading global source of critical information and insight. The impending regulation by the International Maritime Organization (IMO), a sanctioning body for the world’s shipping fleet, aims to significantly reduce the amount of sulfur in bunker fuels that are relied on for commercial shipping. Collectively, these ships burn more than 3 million barrels a day of residual fuel oil, which has a sulfur content that exceeds levels found in automotive gasoline by more than 1,000 times. Burning fuels with
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