Greek owners urge EU to transpose the IMO (NZF) in European regulatory framework

The Union of Greek Shipowners (UGS) urges EU to fully transpose the IMO Net-Zero Framework (NZF)in the European regulatory framework if IMO adopts the IMO NZFin October 2025.

“This is to avoid duplicating regulation of GHG emissions for maritime transport and eliminate pertinent regional measures such as the extension to shipping of the EU Emissions Trading System (ETS) and the FuelEU Maritime Regulation,” the Union of Greek Shipowners (UGS) said in its annual report 2024-2025.

“The IMO NZF is not without its drawbacks … on the contrary, it represents serious challenges,” the document reads.

These include, “a complicated GHG Fuel Intensity (GFI) trajectory with unrealistic annual emissions reduction targets and disproportionately high penalties for under-compliant ships in the absence of available alternative fuels.”

Also, critical elements remain undefined, such as the methodology for the rewards for zero or near-zero (ZNZ) fuels and technologies, and the IMO Net-Zero Fund’s governance and disbursement mechanisms.

The report further sets out the UGS’s proposals vis-à-vis major policy developments and challenges for the shipping sector.

Under the current set of proposals, “important transitional fuels, such as LNG, are unfairly treated, thereby undermining significant investments made by the industry, which are essential for enabling its energy transition