The Global Maritime Forum (GMF) has published a video asking various industry stakeholders for their views on shipping decarbonization and the role of regulations in achieving net-zero emissions.
As explained in the video, 2025 will be a pivotal year for the global shipping industry. All eyes will be on the International Maritime organization’s 83rd meeting of the the Marine Environment Protection Committee (7 to 11 April 2025), in which key aspects of its greenhouse gas reduction strategy are expected to be adopted.
Jesse Fahnestock, Director of Decarbonization at the Global Maritime Forum, emphasized the importance of mid-term measures under negotiation, stating, “These measures are going to create incentives for the adoption of these new fuels, and the important thing from our perspective is that they accelerate the transition as much as possible.”
The regulatory landscape is expected to undergo significant shifts, with industry leaders anticipating new policies that could define the future of shipping. Randy Chen, Vice Chairman of Wan Hai Lines, noted, “2025 is going to be an extremely important date for the industry transition because of all the potential regulatory frameworks that could emerge. The most important thing is that there is a level of political consensus that drives real change in the transition.”
The decisions made by the MEPC will have far-reaching consequences, and clarity is a top priority for stakeholders. Rajesh Unni, Executive Chairman of Synergy Marine Group, underscored this need, stating, “The key thing for the industry is to have clarity. It’s extremely important because there are so many member nations that are going to come together and put up these proposals. There is going to be a lot of debate, and where we don’t want to be is after all this debate, there are a lot of grey zones where people are expected to interpret in their own ways.”
Meanwhile, Johannah Christensen, CEO of the Global Maritime Forum, echoed this sentiment, expressing hope that the IMO discussions would result in a framework providing certainty to the sector while supporting the introduction of green fuels.
One of the most contentious issues remains the implementation of a robust emissions pricing mechanism to incentivize decarbonization. Alexander Saverys, CEO of CMB.TECH, argued that achieving zero-emission fuels is straightforward if the right economic measures are in place: “To get zero-emission fuels is very simple. We need a global tax on CO2 and greenhouse gas emissions. The biggest issue we have today for green fuels is the price. Fossil fuels are too cheap, green fuels are too expensive.
We need to bridge the gap. There are two ways to do this: You have to tax fossil fuels, and of course, the green fuels need to become less expensive thanks to the technology and efficiency of new technologies.
… he said
The complexity of regulatory negotiations at MEPC means compromises will be necessary. However, Rajesh Unni remains optimistic, saying that some form of levy has to be there in the mix to accelerate decarbonization.
Fahnestock added that while the importance of a carbon price is widely accepted, the debate now centers on how to implement it effectively: “I don’t think actually there is much debate about the relevance of a price on carbon. It’s really a question of how to implement it and at what level at this point.”
Ideally, we need a combination of different mechanisms—one that penalizes the use of fossil fuels and one that supports the use of green fuels. And if we can have that combination of measures in place, then we really stand an excellent chance of seeing a rapid uptake of new green fuels in shipping.
… Christensen highlighted.
Despite ongoing debates, the IMO remains committed to providing the necessary regulatory clarity to ensure the industry reaches net-zero emissions. IMO Secretary-General Arsenio Dominguez reaffirmed this commitment, stating, “IMO and all its member states continue to be very committed to the goals that were established when we adopted the GHG 2023 strategy. We continue to be on track to make the required decisions, starting with the approval of the technical and economic measures in April and then moving to the adoption towards the end of the year in the autumn. And that will send a clear signal that we also remain on target to meet not just the goal for 2030, but actually the final goal of decarbonizing by or around 2050.”
As the IMO moves forward with its ambitious strategy, industry leaders remain hopeful that upcoming decisions will provide the regulatory certainty and economic incentives necessary for a successful energy transition in shipping.
The next steps will be crucial in shaping the industry’s ability to meet its decarbonization targets, ensuring a sustainable and resilient future for global maritime trade.
