INTERCARGO responds to IMO’s decision on GHG reduction measures

At last week's landmark MEPC 83 meeting, the International Maritime Organization (IMO) Member States assumed responsibility and agreed on a medium-term greenhouse gas reduction measure that differs from the levy-based approach INTERCARGO and industry partners have advocated for many years.

INTERCARGO Secretary General, Kostas Gkonis commented, “INTERCARGO is concerned about the complexity of the measure taken forward by IMO, disregarding calls for a simple, practical and therefore predictable, enforceable, and effective approach.”

He continued, “Despite these challenges, our Association remains committed to supporting the IMO process and its implementation. We will make every effort to help the industry progress toward the fair and practical transition required for international shipping and the dry bulk sector.”

INTERCARGO will continue providing constructive input to IMO as this work progresses, aligned with IMO's ambition to achieve decarbonization goals for international shipping as the global regulator. Our industry needs global solutions that are transparent and simple to administer, especially for the small and medium-sized companies that form its backbone, rather than fragmented regional measures.

Nevertheless, INTERCARGO welcomes the progress made by Member States in reaching a decision at IMO. As the voice of the dry bulk shipping sector—the largest by number of vessels and deadweight tonnage, with bulk carriers serving as the backbone of international tramp shipping—INTERCARGO remains committed to supporting the IMO's efforts toward a just and effective energy transition.