Held on 9 September at SMM, more than 150 delegates attended this year's CIMAC Circle, covering the total cost of ownership of marine propulsion engines. Inevitably, the panel of engine builders, engine (vessel) operators and engine system and component makers were strongly influenced by the effects on engine first costs and engine running costs of the upcoming IMO Tier II and Tier III emissions regulations, due in 2011 and 2015 respectively. As Dr. Udo Schlemmer-Kelling of Caterpillar Motoren noted in the title of his lively presentation: IMO III is knocking at our door. The levels of emissions reduction prescribed by IMO Tier III for vessels operating in Emissions Control Areas clearly come at a price…