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17-09-2015

North American ECA Rules Spurring Newbuild Orders in 2015 to Seven-Year Highs

Carriers are reportedly looking to circumvent the new nitrogen oxide emission requirements which come into effect at the beginning of 2016.

Container carriers are accelerating newbuild orders as they race to beat a January 1, 2016 deadline that will impose stricter nitrogen oxide (NOx) emission requirements on ships travelling in the North American Emission Control Area (ECA), Shipping Watch reports.\u00a0

The new regulations will require all ships with a keel laid after the end of 2015 to comply with International Maritime Organization (IMO)\u00a0Tier III NOx standards, which has reportedly spurred a number of carriers to place newbuild orders before the end of the year.\u00a0

As a result, the number of newbuilds in 2015 has risen to a seven-year high, with\u00a0190 ships ordered that have a combined capacity of 2.04 million TEU.\u00a0

According to Alphaliner, Asian carriers China COSCO, Evergreen, PIL and Yang Ming in particular have driven much of the bulk of orders this year.\u00a0

Earlier this month, China COSCO ordered\u00a011 newbuild 19,000 TEU ultra-large container carriers (ULCCs) for $1.5 billion, the largest of the 2015 orders, reports said.\u00a0

Last year, it was reported that while the North American NOx Emissions Control Area (NECA) will come into effect in 2016 as originally planned, NECAs in other parts of the world will be delayed.\u00a0


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