As shipping companies prepare to bring their fleets into compliance with IMO 2020, LNG is poised to capture a small but growing portion of the international bunker fuel market in the US and across the globe.The International Maritime Organization’s new regulations will come into effect from January 1, 2020 when the ocean-going vessels have to cut the sulfur content in fuels to 0.5% from the previous limit of 3.5% established in 2012. The change in sulfur limits has had “wide-ranging repercussions for the global refining and shipping industries as well for petroleum supply, demand, trade flows and prices,” according to a report in March from the US Energy Information Administration. To comply with the regulations fleet owners are switching to the use of low-sulfur fuel oil as well as non-petroleum-based fuels, such as LNG, […]