9/27/2018 5:44:00 AM
Source: Business Insurance
Experts said that the International Maritime Organization’s low-sulfur regulation for shipping fuel could disrupt shippers’ operations and oil supplies across the world, S&P Global reported. The global sulfur cap of 0.5% on marine fuels comes into effect on Jan. 1, 2020. The experts said that sufficient fuel with the right specification may not be available within the deadline due to a stalemate between the shipping and refinery industries. The disruption could range from a few months to years and could cause fuel shortages and high fuel costs, the experts added.