Rising volatility in marine markets lifts hedging against Platts instruments: ICE Big swings in marine fuel prices and freight rates due to IMO 2020 and coronavirus have led to increased appetite for hedging, with financial instruments settled against S&P Global Platts physical 0.5% sulfur assessments at record highs, Intercontinental Exchange said. Since February 2019, open interest across marine fuel has grown to a record 274 million barrels equivalent on Feb. 23, with traded volumes up 114% year on year, ICE said. A change in International Maritime Organization regulations meant sulfur emissions from ships on the high seas were capped at 0.5% from Jan. 1, 2020, down from 3.5% previously.