Greek shipowners have thrown their support behind a joint Panama-Liberia proposal as an alternative path forward in the ongoing debate over the International Maritime Organization’s Net-Zero Framework (NZF), according to Ship & Bunker. The endorsement comes just ahead of IMO technical discussions scheduled for next week.
Melina Travlos, President of the Union of Greek Shipowners, said in a statement on Monday that the industry remains committed to reducing emissions but insisted that any decarbonisation targets must align with what is technologically and commercially achievable, Ship & Bunker reported.
Criticism of the Current NZF Approach
Travlos was direct in her assessment of the negotiations so far. “The course of the negotiations to date, however, has revealed significant weaknesses in the proposed IMO Net-Zero Framework, which clearly is not the solution,” she said, as quoted by Ship & Bunker.
Instead, she pointed to the Panama-Liberia proposal as offering a more workable path, calling it a “balanced and pragmatic foundation” for continued talks, while acknowledging it still has room for refinement.
What the Alternative Proposal Offers
According to Ship & Bunker, the Panama-Liberia proposal was introduced ahead of the MEPC 84 meeting earlier this year. Its central feature ties the NZF’s greenhouse gas fuel-intensity targets to the real-world price and availability of commercially viable fuels, and it has already attracted backing from several IMO member states.
Travlos noted that the proposal takes into account the affordability, availability, and scalability of alternative fuels, while also giving weight to ship energy efficiency measures in cases where suitable fuels remain scarce or too costly, Ship & Bunker reported.
She further called for the IMO to adopt a single, unified global framework, stressing that the shipping industry should have a genuine voice in shaping regulations it will ultimately be responsible for following. “Ambitious targets, however, need to remain realistic,” she said, cautioning that overly rigid measures risk placing economic strain on the industry without necessarily achieving the environmental outcomes intended.
Not all member states are on board, however. Ship & Bunker reported that Norway has pushed back against the Liberia-led approach, arguing it could end up favoring fuels such as fossil LNG.
The IMO’s working group is due to meet from September 1 to 4 to continue the discussions.
Does this matter to you?
The outcome of these IMO negotiations could shape future fuel-intensity requirements and compliance costs across the shipping sector. Vessel operators, fuel suppliers, and charterers tracking regulatory direction on decarbonisation may want to monitor how the Panama-Liberia proposal is received at next week’s talks, since its fate could influence how strictly fuel-switching and efficiency rules are eventually enforced. The broader implications for bunker fuel demand and alternative fuel uptake will depend on which framework the IMO ultimately adopts, though the source material does not detail specific timelines for implementation beyond the upcoming working group session.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
