South Korea and Singapore shipbuilders are angling for early mover advantage for a larger pie of the LNG value chain. Leading shipbuilders in Singapore and South Korea are realigning their product offerings to tap potential demand for next-generation vessels capable of meeting the new emission control requirements scheduled to kick in from 2020. The International Maritime Organization (IMO) has announced the intent to introduce by 2020 a new standard to tighten allowable sulfur content in marine fuels globally outside of the emission control area in the North Sea, off the United States and Canada. The timeline for the imposition of the so-called IMO Tier III emission standard imposing a .5 percent sulfur limit globally remains subject to a review to be completed by 2018, according to the World Shipping Council. Oil companies have also developed low sulfur marine gas oil capable of satisfying the new emission requirements. Yet, as […]