Yara Is Ready to Make More Ammonia If Shipping Rules Spur Demand [Yahoo! Finance Canada]
FORTESCUE METAL GRP S/ADR (FSUGY)
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Source: Yahoo! Finance Canada
potentially expand output if global talks to decarbonize shipping raise demand for the carbon-free chemical. Most Read from Bloomberg Shipping's global regulator is due to hold a meeting next month to develop long-term rules to force the maritime sector to slash its greenhouse gas emissions. Depending on how those and subsequent talks progress, shippers may have to start replacing mainly oil-derived fuels with cleaner alternatives such as ammonia, potentially creating a big new market for suppliers like Yara. “When the incentives are there, we're ready to scale up,” Yara Chief Executive Officer Svein Tore Holsether said in an interview. He cautioned that there needs to be a solid business case to do it, so regulation will play an “important role
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