On behalf of a broad coalition of maritime industry organizations, collectively representing flag registries, classification societies, shipowner associations, and shipping companies, this press release is being issued following the signing of a joint statement urging Member States of the International Maritime Organization (IMO) to consider alternative proposals to the current Net-Zero Framework (NZF) and to approach the upcoming MEPC 84 session as a decisive opportunity to build the consensus the industry urgently needs.
The coalition includes the world’s three largest open ship registries, the Liberian Registry, the Panama Maritime Authority, and the Marshall Islands Registry. The signatories further include two of the world’s leading classification societies, major national and regional shipowner associations across Europe, Asia, and the Americas, and prominent shipping companies operating across all major vessel segments.
A Call for Unity, Not Division
The maritime industry is united in its commitment to decarbonization. Shipping carries approximately 80 percent of world trade and is responsible for roughly 3 percent of global greenhouse gas emissions. Achieving net-zero emissions by or around 2050 is a shared goal, one that demands a global, coordinated, and durable regulatory response.
It is precisely this shared commitment that motivates the coalition’s call today. The extraordinary session of the Marine Environment Protection Committee (MEPC ES.2) in October 2025 concluded without the adoption of the Net-Zero Framework, an outcome that underscored the depth of the divisions that remain among IMO Member States. Since that session, the coalition notes that concerns regarding the NZF’s practical implementation have grown, and support for the framework in its current form has continued to erode.
The signatories reaffirm their conviction that the IMO is, and must remain, the essential global regulator for international shipping. Only the IMO has the mandate, the legitimacy, and the reach to deliver the level playing field that shipowners, fuel producers, and investors need to commit the trillions of dollars required to decarbonize the global fleet. When approaches are not globally aligned, the result can be market distortions, increased costs for operators and consumers, and, ultimately, delays in the transition they seek to accelerate.
With this in mind, the coalition calls on Member States and the Organization to give serious and open-minded consideration to the alternative proposals that have been submitted, and to use MEPC 84 as the platform for the alignment the industry has been waiting for.
The organizations signing this statement represent an extraordinary cross-section of global maritime leadership:
Flag Registries
- Liberian International Ship & Corporate Registry (LISCR) — The world’s #1 flag state by gross tonnage, with 300 million gross tons representing more than 17% of the global fleet.
- Panama Maritime Authority — The world’s largest registry by vessel count, with approximately 228 million gross tons and over 8,400 ships representing 13% of global fleet tonnage.
- Marshall Islands Registry — The world’s third-largest flag state, with nearly 200 million gross tons and almost 4,500 vessels.
*Data Source: Clarkson’s 04/2026
Classification Societies
- Bureau Veritas
- RINA
Shipowner Associations
- Liberian Shipowners’ Council
- Cyprus Union of Shipowners
- Malaysia Shipowners’ Association (MASA)
Maritime Association
- International Flag-State Association
Shipping Companies
- Bahri (Saudi Arabia’s national shipping company and one of the world’s largest tanker operators)
- GasLog (global LNG shipping)
- OSG (Overseas Shipholding Group)
- DHT Holdings
- Dorian LPG
- Tsakos Group of Companies
- Danaos Corporation
- Dynagas / Dynacom Tankers Management
- Sea Traders S.A., Triton Tankers, Prominence Maritime
- Maran Tankers Management, Maran Dry Management, Maran Gas Maritime, Maran Shuttle Tankers
- TMS
- Unisea
- Centrofin Management, Marine Trust, Trust Bulkers
- Alpha Bulkers Shipmanagement, Alpha Gas, Pantheon Tankers Management
The Path Forward
The coalition’s message ahead of MEPC 84 (April 27 – May 1, 2026, London) is one of constructive resolve. The industry is ready to invest, to transition, and to decarbonize, but it needs the clarity and the certainty that only a globally agreed, broadly supported framework can deliver. Investments in new vessels, alternative fuels, and bunkering infrastructure involve decades-long asset lifetimes and billions of dollars in capital. Regulatory uncertainty is not a neutral condition; it delays progress, inflates costs, and ultimately slows the very transition the world needs. The window for action is now. The coalition stands ready to support Member States in finding that path forward.
