IMO 2020 Regs Update - May 7

[dan_s]

FUJAIRAH, United Arab Emirates (Reuters) - Refiners around the world have invested about $1 billion so far to produce low-sulfur marine fuel to meet new regulations coming into force in 2020, a BP executive said on Tuesday.

International Maritime Organization (IMO) rules will ban ships from using fuels with a sulfur content above 0.5 percent from 2020, compared with 3.5 percent now, unless they are equipped with so-called scrubbers to clean up sulfur emissions.

Since the deadline for the shift was set in 2016, shippers and refiners have scrambled to prepare for the new standards.

Read: https://www.reuters.com/article/us-ship ... SKCN1R71HT