Dirty shipping fuel margins plunge as cleaner fuel rules loom
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LONDON (Reuters) - Margins for European high sulphur fuel oil (HSFO), used to power ships, sank this week as preparations for a global shift to cleaner maritime fuel next year start to weigh on prices.High sulphur fuel oil is one of the dirtiest and cheapest products to come out of a refinery. It is used in power generation but has been the fuel of choice in global shipping for decades. But most demand will evaporate after new rules from the International Maritime Organisation (IMO) which aim to..