Inter-Asian liner operators and their Japanese tonnage suppliers are taking financial and regulatory risks by ordering Tier II newbuildings, an industry analyst says.
Top-name Chinese shipbuilders are competing with rivals in Japan, South Korea and Taiwan for two long series of sub-panamax containerships from Taiwanese liner players Evergreen Marine and Wan Hai Lines. Shipbuilders who are taking part in the negotiations say both owners prefer Tier II newbuildings that will be unable to trade in the world's emissions control areas (ECAs).
