The “IMO Net-Zero Framework” introduces a dual strategy for the global shipping industry, emphasizing both a global fuel standard to reduce greenhouse gas (GHG) emissions and a pricing mechanism for ship emissions. At the Blue Economy Finance Forum in Monaco, IMO Secretary-General Arsenio Dominguez underscored the urgent need for substantial investments in technology and alternative fuels to transition toward a net-zero future, impacting supply chains, business models, and the maritime workforce.
The regulations, approved in April and set for final adoption in October, push for large-scale production of alternative fuels to replace the 350 million tonnes of fuel oil consumed by ships annually. Enhancements to port infrastructure and bunker operations are also necessary to facilitate the safe provision of clean energy. Currently, around 200 container ships operate on zero or near-zero emission fuels, with nearly 80% of new orders reflecting this hybrid capability.
The framework creates a clear demand from fuel producers while supporting early adopters among shipping companies, who can share their insights. These regulations will be mandatory for all international ocean-going vessels and are designed to evolve over time with tightened emission limits every five years. Dominguez emphasized the importance of upskilling nearly half a million seafarers by 2030 and updating safety protocols for new fuels. He called for concrete actions to implement existing global commitments effectively.
