By Paris Tsirigotis

The decision to postpone the vote for one year on the proposed roadmap for the decarbonization of shipping (Net Zero Framework) is a new opportunity for "the formation of a sustainable and effective international framework, which will lead shipping safely and realistically to the green transition," the President of the Association of Greek Shipowners, Melina Travlou, said.

In a statement, Travlou also noted that “the failure to reach an agreement highlighted the division caused by the Net-Zero Framework regulation under vote, in which the positions and proposals of shipping were not sufficiently taken into account.”

“The Greek shipping industry remains firmly committed to the common goal of decarbonization and will lead the global dialogue in a documented and unified manner, for the formation of a fair, realistic and applicable framework, where all stakeholders will assume their respective responsibilities on the common path towards the green transition,” she concluded.

Concern over feasibility of decarbonization goals

In a recent interview with Lloyd’s List, Travlou expressed her concern that the decarbonization plan promoted by the International Maritime Organization (IMO) will not be achievable.

Last year, Moscow still accounted for roughly a fifth of all gas imports into the EU, and an increasing proportion of LNG, according to its official data. In the first half of 2025, Member States imported LNG worth almost 4.5 billion euros from Russia.

Shipping needs international, fair and realistic rules

The postponement of the adoption of the new “zero emissions” framework for one year by the IMO is a turning point in global negotiations on the future of shipping.

In this context, the Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, in an official statement, underlined that shipping needs international, fair and realistic rules, accepted by all member states, rather than punitive mechanisms that will endanger the stability of global trade.

As he noted, Greece, with its long naval tradition and the world’s strongest fleet, will play an active role in the new negotiations that will determine the final IMO framework for the green transition of shipping.

LNG emerges as key player in green transition

Liquefied natural gas (LNG) is emerging as a leading player in the decarbonization of shipping, responsible for approximately 3% of global emissions. Given the obstacles to the development of alternative fuels, such as methanol and ammonia, the market already seems to be moving more towards its adoption, as infrastructure and supply are in place.

According to executives from the Norwegian classification society, demand for LNG as a marine fuel is expected to double by 2030, with DNV currently recording 781 dual-fuel ships in operation and predicting that this fleet will exceed 1,400 ships within the next five years.

“Based on the current order book, the number of ships will reach 1,417 by 2030, but we expect it to increase as new orders are confirmed,” said Kristian Hammer, senior consultant at DNV.

Japan’s Mitsui O.S.K. Lines (9104.T), which has the world’s second-largest shipping fleet, is aggressively turning to LNG as a transition fuel. It currently operates 15 LNG dual-fuel ships and has ordered 42 more.

According to the company, LNG bunkering reduces emissions compared to oil by 19% on a “well-to-wake” basis, i.e. taking into account emissions from extraction and production through to fuel consumption on board.