A surge in shipping costs due to turmoil in the Red Sea is pressuring Europe’s diesel supply chain, contributing to a sharp jump in fuel prices.

The maritime industry will join the European Union's Emissions Trading System in January, meaning big ships will start paying for carbon emissions.

The diesel market is pricing in a crisis, one that soon could get even worse because of a lack of the type of crude that’s good for making the fuel.

A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage of diesel, jet fuel and similar petroleum products.

The shipping industry is starting to feel the full force of surging diesel and gasoline costs.

A slump in global diesel stockpiles has left the market vulnerable to price spikes.

A.P. Moller-Maersk has ordered eight new vessels, each costing $175 million, that can be propelled by cleanly made methanol instead of an oil-based fuel.

Trafigura Group said the shipping industry’s regulator needs to act with “lightning speed” to cut carbon emissions from an industry that spews more C02 into the atmosphere each year than France and the U.K. combined.

John Kerry wants to accelerate the decarbonization of the global shipping industry, which spews more carbon dioxide into the atmosphere each year than France and the U.K. combined.

Starting Jan. 1, the vast majority of the world’s ships were forced to change the fuel they use. Some big winners — and potential losers — are starting to emerge from what was a historic switch for the world’s oil refining and maritime industries.