Some Oil Refineries Are Getting a License to Print Money
- Sophisticated plants can already comply with 2020 sulfur rules
- Demand and prices for compliant marine diesel fuel are rising
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Ready the cash-printing machines -- the world’s most sophisticated refineries are about to enjoy great times thanks to what might seem like a minor tweak in rules for the type of fuel ships consume.
From 2020, vessels must buy fuel with less sulfur, or alternatively be fitted with equipment to curb emissions of the pollutant. One thing is clear: only a tiny fraction of the merchant fleet will have such gear when the rules enter force, since many shipowners argue it’s the responsibility of refineries to sell the right fuel.