The Tripartite Forum of shipbuilders, shipowners, and classification societies convened last week in Busan, South Korea, with over 70 delegates from 13 nations expressing their continued support for the International Maritime Organization (IMO) as the principal global regulator for shipping. This gathering follows a controversial session of the IMO’s Marine Environment Protection Committee, where the adoption of a landmark global carbon pricing system for shipping was postponed for one year due to procedural actions primarily initiated by petrostates, including the United States and Saudi Arabia.
During the conference, Thomas A. Kazakos, Secretary General of the International Chamber of Shipping, emphasized the future role of shipyards in fostering industry confidence to meet sustainability goals. He noted the importance of collaboration among shipbuilders, classification societies, and shipowners to design vessels that comply with emerging regulations. The forum also addressed vital issues like decarbonization and autonomous ship technologies.
The decision to delay the Net-Zero Framework, originally approved in April by 63 countries, reflects significant geopolitical tensions. The framework aimed to implement fees for carbon non-compliance, potentially generating $15 billion annually from 2030. The postponed vote will now push discussions to the next session in October 2026, jeopardizing the timeline for implementation originally set for March 2027.
