It will be a varied combo, when the carriers make the transition to the new global sulfur requirements, where vessels in particular zones are not allowed sulfur emissions of more than 0.5 percent. It is still unclear when exactly the new regulations will take effect, but they are already an cause of concern in the industry, said Eddy H. Van Bouwel, who is political senior consultant at ExxonMobil, recently.
"There is a lot of worry in shipping and at the refineries. We are facing a big shift in the fuels that shipping needs. This means that refineries around the world are forced to decide what to do. Whether they will invest in conversion technology such as coal-facilities or hydro-fracking, which they are currently doing. These units will take four or five years," he said according to Seatrade Global during a presentation on the fuels of the future.