EXPLAINER-New rules on ship emissions herald sea change for oil market [Reuters]
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Source: Reuters
EXPLAINER-New rules on ship emissions herald sea change for oil market | Reuters Reuters Staff 7 Min Read * Rules will slash amount of sulphur ships emit * New code will drive up premium for low-sulphur fuels * Refiners may struggle to meet demand for cleaner fuel * Volatility likely as different crude grades favoured By Libby George and Ahmad Ghaddar LONDON, May 17 (Reuters) - New rules coming into force from 2020 to curb pollution produced by the world’s ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies. The regulations will slash emissions of sulphur, which is blamed for causing respiratory diseases and is a component of acid rain that damages vegetation and wildlife. But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner fuel and few ships fitted with equipment to reduce sulphur emissions. This raises the risk of a chaotic shift when the new rules are
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