Refiners around the world have invested about $1 billion so far to produce low-sulfur marine fuel to meet new regulations coming into force in 2020, a BP executive said on Tuesday. International Maritime Organization (IMO) rules will ban ships from using fuels with sulfur content above 0.5 percent from 2020, compared with 3.5 percent now, unless they are equipped with so-called scrubbers to clean up sulfur emissions. Since the deadline for the shift was set in 2016, shippers and refiners have scrambled to prepare for the new standards. “There’s a certain strong supply of compliant fuel oil, particularly in hub locations (like) Rotterdam, Singapore and Fujairah,” BP’s global head of marine fuels, Eddie Gauci, told the Fujairah Bunkering and Fuel Oil Forum. […]