IMO defends decarbonisation push amid concerns over economic impact

The International Maritime Organization (IMO) is defending its commitment to maritime decarbonisation despite a perceived decrease in media attention. The IMO Secretary-General addressed the industry, stating that the absence of decarbonisation from headlines does not indicate institutional neglect, comparing it to safety and security work which is vital but often lacks news coverage.

Greek Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, warned that the costs of the green transition in shipping could significantly impact the global economy. He noted that because sea transport carries 80% to 90% of global trade, any additional financial burdens on shipowners could lead to higher prices for energy, food, and consumer products, ultimately fueling inflation.

Kikilias highlighted that alternative fuels currently meet only 0.5% of the global shipping industry’s needs. He argued against imposing punitive measures for the use of fuels that are not yet available in sufficient quantities. He further stated that Greece, along with Italy, Cyprus, and Malta—which represent over 70% of the European fleet—are aligned in their concerns regarding current European-level discussions on the matter.