MegayachtNews Radio: How Tier III Regulations Will Impact Your Yacht in 2021

In yachting, regulations come from a variety of sources. One of them is the International Maritime Organization (also known as the IMO), a specialized agency of the United Nations. The IMO has a particular focus on improving the safety and security of international shipping and preventing pollution from vessels of all kinds. To that latter point, the IMO has a set of emissions standards, commonly referred to as the Tier III standards, which will begin applying to a significant number of megayachts starting January 1, 2021. While there's been a lot of talk about Tier III over the past few years within yachting, unfortunately few owners and their advisors understand what it means. So, consider today's podcast an Education 101 session. Chris Swanhart of DLBA Naval Architects is our guest, explaining:

• what the new regulation requires, and for what sizes of yachts, in layman's terms
• how the regulation impacts both new builds and refits
• what equipment these yachts will now have to carry
• what the challenges are in terms of design, space utilization, and cost
• and more.