IMO net-zero showdown puts Greece and Cyprus shipping decisions on the line

The International Maritime Organisation (IMO) is heading towards a decisive December showdown over its Net-Zero Framework, with Greek and Cyprus shipping voices warning that the final rules must work in the real world of global fuel supply, ship investment and international competition. After four days of negotiations in London last week failed to close several of the remaining gaps, governments now have less than three months before another intense round of talks that could determine the shape of global shipping regulation for decades. The next round, ISWG-GHG 23 , will take place from November 23 to 27, immediately followed by the Marine Environment Protection Committee’s MEPC 85 session from November 30 to December 3.

Then, subject to confirmation by MEPC 85, the extraordinary session suspended in October 2025 is scheduled to reconvene on December 4 , when governments could again attempt formally to adopt the framework. The question is no longer simply whether international shipping should decarbonise. The argument increasingly concerns how quickly, at what cost and with which fuels a global fleet operating across thousands of ports can realistically make that transition. The IMO Net-Zero Framework, approved in draft form in April 2025 but still awaiting formal adoption, would combine a global marine fuel standard with an emissions pricing mechanism . Ships would progressively have to reduce the greenhouse gas intensity of the energy they use, while vessels failing to meet the required thresholds would face additional compliance costs. At the same time, money raised through the system would flow into an IMO Net-Zero Fund intended to support zero and near-zero emission fuels, innovation and the wider transition. However, agreement over how that system should operate…