The world’s biggest oil traders are gearing up to cash in on big disruptions that could hit the shipping fuel market in just over a year due to new U.N.-mandated environmental rules.
In Rotterdam, ships from around the world cruise in and out of Europe's busiest port, a bustling industrial hub that employs almost 200,000 people and produces 20 percent of the Netherlands' climate-changing gases.
Compliance with the International Maritime Organization’s global sulfur limit for marine fuels will likely settle around 90% in the initial years after 2020 as most shipowners switch to 0.5% sulfur bunker fuels to meet the rule
While analysts expect disruptions in the coal export and import markets, solutions to the International Maritime Organization’s 2020 sulfur cap remain unclear, a Wood Mackenzie analyst said in a report.
Following the tragic fire on the Maersk Honam earlier this year that left five dead Maersk Line has new guidelines for the stowage of dangerous cargoes across all 750 vessels in its fleet.
