Shipping’s Big Bang Sends Two Global Industries Spinning
- Ships that can burn high-sulfur fuel are making more money
- Refineries supported where they can make 2020-compliant fuels
This article is for subscribers only.
Two weeks ago, the vast majority of the world’s ships were forced to change the fuel they use. Some big winners -- and potential losers -- are starting to emerge from what was a historic switch for the world’s oil refining and maritime industries.
Regulations began on Jan. 1 forcing vessels to sharply reduce emissions of sulfur oxides from burning so-called bunker fuel. If successful, the rules could turn out to be the single-biggest, globally mandated improvement to air quality ever. The pollutant is blamed for worsening human health conditions like cardiovascular disease and asthma, and causing acid rain.