As the International Maritime Organization prepares for the 84th session of its Marine Environment Protection Committee (MEPC 84), industry groups and stakeholders are consolidating their positions in anticipation of critical decisions on greenhouse gas regulation.
This week, a broad coalition representing roughly half of the world’s commercial shipping fleet has issued a unified call for greater consensus among governments ahead of a pivotal round of climate negotiations at the IMO.
The statement, backed by leading flag registries, classification societies, shipowner associations, and major shipping companies, clearly showcases mounting industry concern over divisions that threaten to slow progress toward decarbonizing global shipping.
Industry Signals Frustration Over Policy Deadlock
At the center of the coalition’s message is the stalled Net-Zero Framework (NZF), which failed to gain approval during the IMO’s extraordinary Marine Environment Protection Committee session (MEPC ES.2) in October 2025. Since then, industry stakeholders say confidence in the framework, at least in its current form, has weakened.
Shipping, which carries about 80% of global trade and accounts for roughly 3% of worldwide greenhouse gas emissions, faces immense pressure to align with international climate targets. The sector has broadly committed to achieving net-zero emissions by around 2050. But according to the coalition, that goal is now at risk of being undermined by regulatory obstacles.
“The industry is united in ambition, but divided governance risks delaying action,” the statement issued argues.
A Show of Industry Unity
The coalition itself is notable for its breadth. It includes the world’s three largest open ship registries, the Liberian Registry, the Panama Maritime Authority, and the Marshall Islands Registry, alongside major classification societies such as Bureau Veritas and RINA.
Also among the signatories are influential shipowner groups across Europe, Asia, and the Americas, as well as major shipping companies spanning tankers, LNG carriers, and bulk shipping.
The organizations signing this statement represent an extraordinary cross-section of global maritime leadership:
Flag Registries
- Liberian International Ship & Corporate Registry (LISCR) — The world’s #1 flag state by gross tonnage, with 300 million gross tons representing more than 17% of the global fleet.
- Panama Maritime Authority — The world’s largest registry by vessel count, with approximately 228 million gross tons and over 8,400 ships representing 13% of global fleet tonnage.
- Marshall Islands Registry — The world’s third-largest flag state, with nearly 200 million gross tons and almost 4,500 vessels.
*Data Source: Clarkson’s 04/2026
Classification Societies
- Bureau Veritas
- RINA
Shipowner Associations
- Liberian Shipowners’ Council
- Cyprus Union of Shipowners
- Malaysia Shipowners’ Association (MASA)
Maritime Association
- International Flag-State Association
Shipping Companies
- Bahri (Saudi Arabia’s national shipping company and one of the world’s largest tanker operators)
- GasLog (global LNG shipping)
- OSG (Overseas Shipholding Group)
- DHT Holdings
- Dorian LPG
- Tsakos Group of Companies
- Danaos Corporation
- Dynagas / Dynacom Tankers Management
- Sea Traders S.A., Triton Tankers, Prominence Maritime
- Maran Tankers Management, Maran Dry Management, Maran Gas Maritime, Maran Shuttle Tankers
- TMS
- Unisea
- Centrofin Management, Marine Trust, Trust Bulkers
- Alpha Bulkers Shipmanagement, Alpha Gas, Pantheon Tankers Management
Together, these organizations represent a significant share of global tonnage, lending weight to their appeal for coordinated policymaking.
The Case for a Global Regulatory Framework
Ιn the coalition’s statement it is mentioned that only the IMO can provide the global alignment necessary for effective decarbonization. Unlike regional or unilateral measures, a unified international framework would create a level playing field, a prerequisite for unlocking the trillions of dollars in investment needed for new vessels, alternative fuels, and infrastructure.
Without that alignment, the coalition warns, the consequences are predictable: market distortions, higher costs for operators and consumers, and slower emissions reductions.
“Regulatory uncertainty is not neutral. It delays progress and inflates costs.”
MEPC 84
All eyes are now on the upcoming MEPC 84 session, scheduled for April 27 to May 1, 2026, in London. The coalition sees the meeting as a decisive opportunity to bridge political divides and establish a durable pathway forward.
Rather than pushing a solution, the group is urging IMO Member States to seriously consider alternative proposals and approach negotiations with flexibility and openness.
High Stakes for a Long-Term Transition
The urgency comes from the long investment cycles inherent in shipping. New vessels and fuel systems are capital-intensive assets designed to operate for decades. Decisions made today will shape emissions trajectories well into the second half of the century.
For that reason, the window for decisive action is narrowing.
“The industry stands ready to invest, transition, and decarbonize, but it needs the certainty that only a globally agreed framework can provide.”
Greek Shipowners Supporting an Alternative
The Greek shipowning community has added its weight to this effort, calling the member states to seek an effective path to decarbonization.
Last week, the Union of Greek Shipowners and its president, Melina Travlos, stated that the draft NZF does not constitute an appropriate solution, as shown by the absence of support from major and influential states representing a significant share of global tonnage, an element that cannot be overlooked.
Looking towards the IMO’s MEPC 84 session at the end of this month, the Union urges the member states to work towards a global, realistic and implementable solution that can ensure a just and equitable transition.
It requests that this solution safeguards both environmental objectives and the resilience of the sector, while also supporting the welfare of societies worldwide. In fact, Ms. Travlos noted that prioritising safety and providing the necessary certainty for long-term investments is of utmost importance.
Global Commercial Shipping Fleet Stands by the IMO
Similarly, BIMCO, CLIA, ICS, INTERCARGO, INTERFERRY, INTERTANKO and WSC, representing the global commercial shipping fleet, have issued the following statement on the matter:
Following the postponement, in October 2025, of the adoption of new IMO greenhouse gas (GHG) regulations, the shipping industry highlights the vital importance of IMO Member States agreeing on a way forward.
The industry remains unified in its commitment to the value and effectiveness of the IMO as the global regulator for international shipping and remains committed to pursuing the ambition established within the 2023 IMO Strategy on Reduction of GHG Emissions from Ships, having invested and committed billions of dollars to trial and implement the use of alternative fuels and innovative technology.
Industry supports consideration of practical and effective IMO solutions with consistent global application while avoiding diverse and/or overlapping regional and national decarbonization schemes which could result in double or multiple penalties being imposed on ships for the same GHG emissions. Member States are therefore encouraged to consider all options to achieve a global agreement.
The significant work already underway on related subjects such as fuel lifecycle assessment and certification schemes must deliver the technical foundation and clarity for consideration of adoption of any measure. Progress must take due regard for which aspects should be adopted by regulation, and which can be reserved for IMO Guidelines.
Decision making must be data driven and fuel/technology neutral, taking into account availability and safety of alternative fuels, and requirements that are solely focused on maritime decarbonization.
Measures adopted should ensure the viability of transitional fuels such as LNG, LPG and sustainable biofuel blends, other alternative fuels including e-fuels, biomethanol, biomethane, sustainable bioethanol and ammonia, as well as technologies such as wind, battery storage, shore power, nuclear, and onboard carbon capture, and – notwithstanding legitimate questions about the safety and feasibility of some of these alternatives – recognize their potential to provide an immediate reduction of emissions.
The IMO requirements should provide the global regulatory certainty that the maritime industry urgently needs and send sufficient signals to energy producers to accelerate production and supply. Industry also underlines the need for practicable enforcement of the new rules to secure intended reduction of GHG emissions and a level playing field across the industry.
Noting that decarbonization of the maritime sector is a multi-stakeholder endeavour which cannot be achieved by shipowners alone, the industry stands by the IMO and is committed to providing meaningful and constructive input to assist IMO Member States in developing fit-for-purpose regulations to deliver the strategic vision of the Organization.
