Expect Chinese owners to make a heightened rush into the S&P markets in the coming month with an important regulation change just announced from Beijing.
China’s Ministry of Transport has announced that all ships imported to China for use on domestic trade as of September 1 this year will have to comply with the emission limit requirements specified in Annex VI of the Pollution Prevention Convention of MARPOL 73/78, which means that they should be at least Tier II emission standards. The new regulation, the latest in a sweeping raft of anti-pollution measures from Beijing, is valid for five years.
Any non-Tier II vessels must be delivered and imported before August 15.
China’s anti-pollution drive has had serious ramifications for maritime with the introduction of emission control areas in the People’s Republic and a ruling earlier this year to ban the import of all ships for recycling purposes.