The world’s leading shipbuilders, shipowners, and classification societies have reaffirmed their commitment to the International Maritime Organization (IMO) as the sole global regulator for shipping, following the recent decision to delay the adoption of a carbon pricing system for the sector.

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The declaration came at the Tripartite Forum held in Busan, South Korea, where more than 70 delegates from 13 countries met to discuss the future of sustainable shipbuilding and maritime regulation. The gathering took place just days after the IMO’s Marine Environment Protection Committee (MEPC) voted to postpone by one year the adoption of draft amendments to MARPOL Annex VI, which would have introduced the first global carbon-pricing framework for international shipping.

Political Frictions Stall Climate Progress

The delay followed a contentious debate that saw the United States, Saudi Arabia, Russia, and other oil-producing nations push for a procedural postponement. The motion to delay was formally proposed by Singapore and brought to a vote by Saudi Arabia. Industry observers say the move reflects the deep geopolitical divisions over the pace and structure of decarbonization in maritime transport.

The draft Net-Zero Framework, initially agreed in principle in April, had broad backing from 63 countries — including the EU27, China, Brazil, India, Japan, the UK, and Korea — against opposition from 16 oil-dependent states. The framework aimed to generate up to $15 billion annually by 2030 through compliance fees on ships exceeding carbon-intensity thresholds. With the delay, the next adoption vote will not occur until October 2026, potentially pushing implementation to 2030.

Industry Calls for Regulatory Clarity

At the Busan forum, Thomas A. Kazakos, Secretary General of the International Chamber of Shipping (ICS), emphasized the importance of industry unity amid policy uncertainty.

“The shipyards of tomorrow will not only build vessels; they will build confidence in the industry’s ability to meet its sustainability goals,” Kazakos said. “Collaboration, foresight, and a continued focus on safety will be the foundation of the next generation of shipbuilding excellence.”

Kazakos added that while the IMO’s delay is disappointing, it should not deter industry progress.

“We need clarity to make long-term investments in decarbonization,” he said. “The IMO remains the only organization capable of delivering global rules for a global industry.”

Technical Challenges and Innovation

Now in its third decade, the Tripartite Forum continues to be a central platform for tackling technical and regulatory challenges in ship design and operation. This year’s discussions covered a wide range of topics — from decarbonization and onboard carbon capture to autonomous vessels, biofouling, underwater noise, and grey water management.

The forum’s history of practical engineering collaboration includes the creation of the Common Structural Rules for bulk carriers and tankers — a benchmark example of global maritime cooperation.

Decarbonization Momentum Continues

Despite the setback, industry experts maintain that the transition to low- and zero-emission shipping is irreversible. Jesse Fahnestock, Director of Decarbonization at the Global Maritime Forum, described the delay as “a disappointing setback, but not the end of this journey.”

Meanwhile, regional measures such as the EU Emissions Trading System, FuelEU Maritime, and national initiatives in the UK, Singapore, and California continue to drive progress independently of the IMO process.

A Unified Voice for Global Regulation

The Busan forum featured participation from leading international maritime organizations, including:

• ASEF (Active Shipbuilding Experts’ Federation)
• BIMCO, representing 64% of world tonnage across 120 countries
• CESA and SEA Europe, representing shipyards and equipment providers across 17 European nations
• IACS, which covers over 90% of global cargo-carrying tonnage
• INTERCARGO and INTERTANKO, representing dry bulk and tanker owners respectively
• ICS, which represents more than 80% of the world’s merchant fleet

The next Tripartite Forum will be held in Japan in Q4 2026, by which time the IMO’s carbon pricing framework will once again be up for debate — a moment that could define the trajectory of global shipping decarbonization for the next decade.