Greek shipping community optimistic about 'universal agreement' at upcoming MEPC

In recent weeks, key developments have underscored Greece’s active engagement in global shipping decarbonisation efforts. The Union of Greek Shipowners (UGS) welcomed an International Chamber of Shipping (ICS) delegation to Greece, while Greek Minister of Maritime Affairs and Insular Policy, Christos Stylianides, met in person with IMO Secretary-General Arsenio Dominguez.

Greece supports realistic measures

Optimism was the prevailing sentiment following the 28 January meeting in London between Minister Stylianides and IMO Secretary-General Dominguez. In an official statement, the Greek Ministry of Maritime Affairs expressed expectations for an agreement on “realistic mid-term measures” to support the globally agreed GHG reduction goals.

Both parties confirmed a strong alignment in their views, with Greece reaffirming its commitment to IMO-led decarbonisation efforts. Greek shipowners and the Shipping Ministry have long advocated for universal measures to promote “greener” shipping, frequently voicing concerns over regional regulations introduced by different jurisdictions.

Greek owners prepare for MEPC 83

In late January, UGS hosted a meeting with ICS’s working group, focusing on the shipping decarbonisation process in preparation for MEPC 83. In a statement following the meeting, Greek shipowners expressed confidence that the IMO will approve a global maritime GHG emissions pricing mechanism.

An international shipping alliance of more than 50 IMO Member States, representing approximately two-thirds of global shipping tonnage, has already submitted a joint proposal. This proposal is expected to serve as the foundation for the anticipated universal agreement at the crucial upcoming IMO negotiations, noted UGS.

Proposed measures 

According to ICS, the joint proposal would require shipping companies operating internationally to contribute to a new “IMO GHG Strategy Implementation Fund” based on the amount of CO2-equivalent (CO2e) emissions their vessels generate.

The primary objective of this mandatory GHG charge is to bridge the cost gap between zero/near-zero GHG emission (ZNZ) fuels (such as green methanol, ammonia, and hydrogen) and conventional marine fuels. This initiative aims to accelerate the adoption of cleaner energy sources in global shipping.