![]() ![]() ![]() ![]() The new rules require that the sulphur content in shipping fuels fall to 0.1 percent from 1 percent by 2015 in “sulphur emission control areas” in the Baltic, North Sea and English Channel. To comply with new European Union laws, shipping companies now face extra costs of 2.6 billion to 11 billion euros ($3.2-$13.6 billion) to switch fuels or to fit exhaust filters that would scrub out the sulphur in marine fuel oil. European refineries are under pressure from high crude costs, cheap refined product imports and weak demand. The shipping industry is already struggling due to poor global demand and overcapacity, which have pushed freight rates to unprofitable levels for many operators. LONDON (Reuters) - A European crackdown on pollution from ships will require billions of dollars worth of investment by shipping firms on filter technology and by refineries on upgrades to produce cleaner fuels - burdens they can ill afford. ![]()
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