By 2020, container ships across the globe will need to meet the International Maritime Organization’s design efficiency standards in order to engage in international trade.

Honolulu-based Matson Inc. said the 2020 exemption date for ships that do not currently meet the new emissions standards put forth by international shipping’s regulatory authority came at the right time for the company to renew its fleet.

In August, Matson signed an agreement with San Diego-based General Dynamics NASSCO…