Thee MEPC E.2 came to end with a voting favouring for adjourning the proceedings for one year. The rmotion to delay was put forward by Singapore and called to a vote by Saudi Arabia. Originally NZF entry hawas planned for March 2027 and with todays outcome, it will need review.

The voting stood as 57-49 in favour of the delay and 21 countries abstained. USA threatened retaliatory tariffs and sanctions on countries who will support the NZF.

ICS released a press release after the the proceedings showing its disappointment and reads as below

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London – The International Chamber of Shipping (ICS) comments following the conclusion of the International Maritime Organization’s (IMO) Extraordinary Session of Marine Environment Protection Committee (MEPC) meeting held in London to discuss the Net-Zero Framework for the shipping industry. The framework would have created the first global carbon pricing mechanism for any industrial sector with the aim of delivering a clear path for shipping’s transition to net zero.

Thomas A. Kazakos, ICS Secretary General, said:

“We are disappointed that member states have not been able to agree a way forward at this meeting. Industry needs clarity to be able to make the investments needed to decarbonise the maritime sector, in line with the goals set out in the IMO GHG strategy.

As an industry we will continue to work with the IMO, which is the best organisation to deliver the global regulations needed for a global industry.”

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