In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%. The new regulation will go into effect in January 2020. This action by the IMO will have a profound impact on the maritime and refining industries worldwide, as well as on the environment. This month’s Business Trends section provides an overview on the anticipated impacts of the IMO’s decision on petroleum product markets.