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31 July 2025 - Year XXIX
Independent journal on economy and transport policy
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Original news
The draft regulation on the decarbonization of the shipping approved by MEPC includes a mandatory standard for fuel and a tariff of greenhouse gas emissions
It provides for the establishment of a Fund to collect the resources deriving from the prediction of emissions
Londra/Washington/Bruxelles
April 11, 2025
The main international associations of the shipping industry welcomed the outcome of this week's meeting of the Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO), which closed today in London, defining it a historical step for the strategy of decarbonization of the marine industry, but have also manifested concern for the lack of greater certainties that expected as the outcome of the negotiations between governments.

The draft regulation agreed by the MEPC will establish a mandatory standard for naval fuel and a tariff of greenhouse gas emissions for marine transport, measures that make shipping the first industrial sector to the world to combine mandatory limits to GHG emissions and tariff of these emissions and whose formal adoption is previewed for next October 2025. The approval of the detailed guidelines for the implementation of the Regulation is expected for the spring of 2026 at the next MEPC session, while the entry into force is expected in 2027, 16 months after adoption.

Based on the draft regulation, ships will be required to comply with a global fuel standard, reducing over time their annual greenhouse gas intensity (greenhouse gas fuel intensity - GFI) , i.e. the amount of greenhouse gases emitted for each energy unit used, value that is calculated using a well-to-wake approach. A global economic measure is also introduced: ships that emit beyond the thresholds GFI will have to acquire corrective units to balance the emissions deficit, while those using technologies to zero or almost zero emissions of greenhouse gases will benefit from financial incentives.

There will be two levels of compliance with the objectives of greenhouse gas production intensity of naval fuel: a basic objective (Base Target) and a direct compliance goal (Direct Compliance Target), to achieve which ships will be entitled to earn "excess units". Ships that emit beyond the established thresholds can balance their emissions deficit either by taking excess units from other ships, either by using excess units previously accumulated or by using corrective units acquired through contributions to the Net-Zero IMO Fund.

The latter will be set up to collect the resources deriving from the prediction of emissions. Revenues will then be provided to reward low-emission vessels, to support initiatives of innovation, research, infrastructure and fair transition in developing countries, to finance training, technological transfer and capacity development to support the IMO strategy on greenhouse gases and to mitigate negative impacts on vulnerable states, such as small developing insular states and less developed countries.

The new framework of measures "IMO net-zero framework" will be included in a new Chapter 5 of Annex VI (norms for the prevention of air pollution from discharges of marine engines) of the International Convention for the prevention of pollution caused by ships (MARPOL).

"The approval of the draft amendments to Annex VI of MARPOL which impose the IMO framework for net zero emissions - the general secretary of the IMO has commented, Arsenio Dominguez - represents another significant step in our collective efforts to counter climate change and modernize marine transport and demonstrates that the IMO respects its commitments. Now - he added - it is important to continue working together, to dialogue and listen to each other, if we want to create conditions for the success of their adoption".
To welcome with some caution the conclusions of the meeting is the International Chamber of Shipping (ICS), according to which they would not finally give certainties to the industry on which road to undertake to reduce their emissions of greenhouse gases. "We hope - the general secretary of the international shipowning association has commented, Guy Platten, intervening at the end of the MEPC meeting - that today it is remembered as a historical moment for our sector. If formally adopted - it has emphasized - the marine transport will be the first sector to have a price of carbon agreed to global level, an objective for which ICS has stood from COP 26 of 2021, when the field has agreed a goal of zero net emissions by 2050. The maritime sector is now at the forefront of the efforts for rapid decarbonization in order to cope with the climate crisis. The governments of the whole world - Platten has observed - have now presented a complete agreement that, although not perfect in every aspect, we hope it will be formally adopted by the end of the year".

Explaining why, in view of the ICS, the agreement reached to the MEPC does not guarantee certainties to the shipowners, Platten has specified that the latter and the energy producers "necessarily need a practicable, transparent and simple regulatory framework to manage that create the incentives necessary to accelerate the energy transition to the required pace. We are pleased - it has added - that governments have understood the need to catalyze and support investments in zero-emission fuels, and will be fundamental for the final success of this IMO agreement that is presented quickly with the necessary scope. The marine sector is already investing billions in new ships and green technologies to be ready for new fuels when they arrive. We hope that this agreement will now provide the certainty that energy producers need urgently to reduce the risks of their decisions about the huge investments. We recognize - it has specified the Secretary-General of the ICS - that this could not be the agreement that all segments of the industry would hope and we are worried that it is not yet enough to provide the necessary certainty. However, this is a picture we can build on. In the coming weeks we will study technical details and continue to support the IMO process in such a way as to have a system that also functions in the management boards of the companies and in the negotiating rooms of the governments".

Also for the Global Maritime Forum "the first binding objectives on the emissions of the marine sector are commendable, but not enough to stimulate the necessary investments". "Although the objectives represent a step forward - it has found Jesse Fahnestock, director for the Decarbonization of the Global Maritime Forum - will have to be improved if we want to drive the rapid passage to the fuel that will allow the marine sector to reach the zero net emissions by 2050. While applauding the progress made, achieving the objectives will require immediate and decisive investments in technologies and infrastructures for green fuels. The IMO - it has specified - will have the opportunity to make these regulations more effective over time, and also national and regional policies will have to give priority to scalable e-fuel and the infrastructure necessary for long-term decarbonization".

According to the Global Maritime Forum, however, the measures agreed, alone, may not be sufficiently incisive to achieve the IMO strategy and the objectives of greenhouse gas intensity create uncertainty on achieving emissions reduction targets for 2030 and 2040. For the non-profit association, in particular, as things stand, it is unlikely that the measures are sufficient to encourage the rapid development of e-fuel, such as e-ammonia or e-methanol, which will be necessary in the long term thanks to their scalability and the potential to reduce emissions. The Global Maritime Forum has evidenced that not to start investing now in these fuels would jeopardize the objective of at least 5% zero or close to zero by 2030 and the entire objective of zero net emissions of the sector by 2050.

The association of European shipowners European Shipowners (ECSA) sees the glass half full rather than half empty and, commenting favorably the global agreement on the climate reached today in place the IMO, has evidenced that "the very important package of new regulations for the reduction of the emissions of greenhouse gases - the "IMO Net-Zero Framework" - will help to guarantee the transition of the international marine transport towards the zeroing of the net emissions". "The shipping - the general secretary of the ECSA has asserted, Sotiris Raptis - will be the first sector to have a price of carbon agreed to global level. It is essential that multilateral cooperation at the UN level produce concrete actions in times of increasing uncertainty, to achieve the goal of zero net emissions by 2050. Although the agreement is not perfect, it is a good starting point for further work. This is a framework on which we can base ourselves in order to guarantee the necessary investments in the production of clean fuels".

Also the World Shipping Council, which represents the segment of the containerized marine transport, has spoken of the outcome of the meeting of the MEPC as of "a fundamental step towards the decarbonization of the shipping", remarking that "IMO is ready to make advances on a topic that for decades has escaped to legally binding standards in many other interests". "This - the president and CEO of WSC commented, Joe Kramek - is an important milestone for climate policy and a turning point for the marine sector. Our sector has long been labeled as "hard to abate", but record investments in the sector and a new global measure can reverse the route". "The marine transport of line - it has remembered Kramek - has already moved to give way to the decarbonization, with almost 1,000 ships fed to renewable energies destined to take the sea within 2030. However, global regulation is required to provide renewable fuel at a commercially sustainable price. Today's IMO results indicate that global regulations can now start exploiting industry record investments to achieve decarbonization goals."

Of all other notice Transport & Environment, the association of non-governmental organizations that promotes sustainable transport in Europe, according to which the "Net-Zero Framework" agreed by the MEPC with the intention to achieve the climatic objectives established in the strategy IMO on the greenhouse gases of 2023 for the decarbonization of the shipping, that previewed intermediate objectives of reduction of the greenhouse gases of 20-30% within the 2030 and 70-80% within the 2040, with the objective In fact, T&E denounces that the agreement reached could perhaps save multilateralism for another day, but probably "will lead to the destruction of rainforests by promoting first-generation biofuels". The association believes that with respect to the commitments of the IMO of 2023, the measure agreed by the MEPC "would bring to the maximum a reduction of the emissions of 10% by 2030, 60% by 2040 and could not reach the objective of zero net emissions by 2050".

Transport & Environment believes, moreover, that, if for the first time there will be an IMO framework that will generate revenue for the decarbonization of the shipping, however the Fund will be "widely insufficient regarding how much necessary to stimulate the clean fuels and contribute to a just and fair transition". Regarding corrective units and excess units, T&E believes that the agreed package will exempt almost 90% of the excess emissions of maritime transport from sanctions for carbon emissions through corrective units. According to the analysis of T&E, this will generate revenue of approximately 10 billion dollars a year until 2035, although the methods and times of distribution of resources will be closely linked to the creation of the Net-Zero Fund of the IMO which - it has observed T&E - is likely to take time.

"In the absence of strict sustainability standards - it has also warned T&E - harmful biofuels such as palm oil and soybean will probably become the preferred option, as they will be the cheapest fuels complying with IMO standards. The adoption of these fuels could actually lead to a disastrous increase in emissions if no precautions are taken as soon as possible. Previous analysis of T&E showed that an IMO agreement without sufficient guarantees against high risk biofuels ILUC (change of land use destination for biofuels production, ) could involve additional 270 million tonnes of CO2e in 2030. This is likely to undermine decarbonization efforts, especially in the absence of long-term certainties that encourage investment in green fuels".

Taking note that the agreement in place MEPC demonstrates that "multilateralism is not dead" and that, "despite a tumultuous geopolitical context, the IMO agreement creates momentum for alternative marine fuels", the director for the Shipping of T&E, Faig Abbasov, has observed that, "however, unfortunately will be the first-generation biofuels, that destroy the forests, to receive next decade. Without better incentives for sustainable e-fuels derived from green hydrogen - Abbasov has argued - it is impossible to decarbonize this highly polluting sector. The ball is now in the field of individual countries, which must implement national policies to create the conditions appropriate to green e-fuels".

Assarmatori, commenting on the outcome of the meeting of the MEPC to which it was present in several technical tables with Simone Parizzi, Head of Naval Technology, Environment and Security of the shipowning association, the latter explained that "our goal was to closely monitor the negotiations, pushing to ensure that the final decisions are as neutral and aligned with the technology and alternative fuels actually available, always following the principle of environmental neutrality and Together with the Italian delegation - it has specified - we have been able to highlight the characteristics of our Country, where the ports are set within the cities and where the marine transport is essential for the development of the industry and the territorial continuity of the largest European island population. No doubt - Parizzi has argued - that for Italy fuels for a real transition are the liquefied natural gas, in the perspective of a future bio matrix, methanol and biofuels, as we have long supported and as certify authoritative studies. The negotiations have been affected by geopolitical tensions, but they have represented an important step in getting to have rules for the decarbonization of the univocal and global marine transport, and not established at regional level, made this indispensable for a sector like ours that is international by definition".
››› News file
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SAILING LIST
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Departure ports
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Trieste
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GNV celebrated its first ten years of activity on the Italy-Albania route
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Keelung
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Paris
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Cagliari
The immediate establishment of a special commission is urged
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Rome
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Rome
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Zurich
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Ancona
Eleven meetings scheduled for July
Program agreement for preparatory and functional interventions for the construction of the bridge over the Strait of Messina
Rome
It was signed today in Rome
Project to develop an ecological station for the treatment of wastewater from ships
Naples
Initiative of the Neapolitan Group of the Cenere and Iello Landing
Assiterminal urges against bringing sediment from the Bagnoli dredging project into the port of Naples.
Genoa
Cognolato and Ferrari: It is essential to safeguard the full functionality of the commercial port's activities.
Container traffic at the Port of Long Beach fell 3.4% in the second quarter.
Long Beach
A decline of -16.4% was recorded in June
Paolo Pessina has been appointed vice president of Conftrasporto-Confcommercio.
Rome
He is president of the national federation of maritime agents and brokers
Container traffic in the port of Hong Kong decreased by -8.2% in the second quarter
Hong Kong
A decrease of -13.7% was recorded in June
Cuneo-based logistics company Nord Ovest is seeing growing financial results.
Wedge
Construction work on a new depot in Mondovì will be completed in early 2026.
Container traffic at the Port of Los Angeles grows driven by fears of new tariffs
Los Angeles
June saw the highest volume ever recorded for this month
The Management Committee of the Sardinia Sea Port Authority has adopted the DPSS
Cagliari
Green light for the concession to MITO and the appeal against the rejection of Olbia's dredging project.
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Genoa
A technical launch, a coin laying and the cutting of the first sheet metal were carried out at the Fincantieri shipyard
Grimaldi sells 5% of Terminal Darsena Toscana to Livorno Port Company
Naples/Livorno
Option to purchase an additional 5% of the share capital
Concession agreement signed that assigns management of the port of Tartous to DP World
Damascus
It has a lifespan of 30 years
Matteo Gasparato appointed president of the Northern Adriatic Sea Port Authority
Rome
He was appointed extraordinary commissioner of the same port authority
Meeting in Rome between the heads of ESPO and Assoporti
Rome
Among the topics addressed, the competitiveness of European ports in the current global context
Chinese airline OOCL reports quarterly decline in scheduled service revenues
Hong Kong
Cargo transported by the company's ships is increasing
Collaboration between the Ukrainian Sea Ports Authority and the Western Ligurian Sea Port Authority
Rome
Agreement with an initial duration of five years
Survey in Germany on the prospects of companies in the maritime, port and shipbuilding sectors
Hamburg
Shipowners are more concerned. Positive prospects for ports and shipyards.
Port of Augusta: Work begins on a third bridge connecting the island to the mainland.
Augusta
Work worth over 20 million euros
Vard signs contract with InkFish for new research vessel
Trieste
The deal is worth more than 200 million euros.
1.1 billion euros will be invested in the port of Hamburg to strengthen the container sector
Hamburg
Improving accessibility and port infrastructure in the Waltershofer Hafen area
Meyer Turku delivered the new Star of the Seas cruise ship to Royal Caribbean
Turku
It has a gross tonnage of 250,800 tons
ESPO calls for increased funding for ports under the next EU Multiannual Financial Framework
Brussels
The CEF programme funds have proven to be far from sufficient
Fincantieri delivers the new Oceania Allura cruise ship to Oceania Cruises.
Miami/Trieste
Two additional Sonata-class ships have been converted into orders.
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Confindustria event on the sea economy in Rome on July 15th
Rome
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
››› Meetings File
PRESS REVIEW
Why Malta is objecting to a new price cap on Russian oil
(timesofmalta.com)
US has its eye on Greek ports
(Kathimerini)
››› Press Review File
FORUM of Shipping
and Logistics
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
Uniport: Bringing debris from Bagnoli to the port of Naples would postpone long-awaited dredging.
Rome
Legora de Feo: It's necessary to find alternative solutions.
Taiwanese companies Evergreen, Yang Ming and WHL saw sharp declines in quarterly revenues.
Keelung/Taipei
In the period April-June it fell by -18.7%, -26.5% and -8.6% respectively
The establishment of the Information Dashboard for the management of private procurement contracts in logistics has been approved.
In May, freight traffic in the port of Ravenna grew by +1.4%
Ravenna
Bulk cargo is on the rise. Miscellaneous cargo is on the decline.
EU approves joint purchase of port equipment by terminal operators
Brussels
Joint definition of minimum technical specifications of equipment is also permitted
Serbian energy group EPS will import coal through the Montenegrin port of Bar
Bar
Currently imports from Indonesia pass through the port of Constanta
Fincantieri Foundation and Luiss University launch a project to strengthen the safety of underwater infrastructure.
Trieste
Among the objectives, contribute to the definition of a specific regulatory framework
Freewheeling: The government's U-turn on anti-mafia controls in the road haulage sector is a welcome development.
Modena
Franchini: If the government has realized it made a mistake, that's good news.
Agostinelli (AdSP Tirreno Meridionale e Ionio): the amendment that allows for the early transformation of the Gioia Tauro Port Agency is extremely important.
Confindustria's event on the maritime economy will take place in Rome on July 15th.
Rome
The confederation's strategic document on the sector will be presented
Kerala seeks $1.1 billion from MSC in damages over MSC Elsa 3 sinking
Thiruvananthapuram
Temporary detention of the vessel "MSC Akuteta II" granted
Trasportounito requests the cancellation of the renewal procedure of the Central Committee of the Register of Hauliers
Rome
New seizure of a load of cocaine in the port of Gioia Tauro
Reggio Calabria
16 bags containing 417 kilos of drugs were found in a container
MOL and Kinetics to build world's first floating data center
Tokyo
It will be installed on a vessel of 9,731 gross tonnage
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