Written by: Stephen George, Chief Economist, KBC
The October 2016 decision by the International Maritime Organization (IMO) to implement strict sulphur emissions from 2020 will transform the shipping industry and bunker fuel markets in the longer term, though it signals uncertainty and some big swings in price relationships for crude oil and refined products as we near 2020.
In this paper, we look at the forthcoming transition and some implications for refiners.
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