by Lloyd's List

INDUSTRY groups have mostly lamented the collapse on Friday of International Maritime Organization talks to put a price on shipping pollution, though some welcomed the one-year delay.

The Marine Environment Protection Committee was adjourned for one year, postponing the big vote on adopting the Net-Zero Framework following aggressive lobbying against it by the US and Saudi Arabia.

Several shipowners’ groups said the delay meant prolonged uncertainty over fleet renewal and a greater chance of overlapping regional rules instead of a simpler, global framework.

V. Group commercial director for decarbonisation James Helliwell called it a profound setback.

“What had broad support six months ago has been derailed by a coordinated opposition campaign, leaving the industry facing precisely the fragmented regulatory landscape we sought to avoid,” Helliwell said.

“Rather than one global framework, operators must prepare for multiple regional requirements, each with different compliance mechanisms, timelines and costs.”

Global Maritime Forum decarbonisation director Jesse Fahnestock said there was still much support for the NZF, noting the decisive vote for its approval in April.

“There’s good reason to feel that adoption is still the preferred path forward at the IMO,” he said.

“That said, it’s difficult to predict how the politics of the opposition will look in a year’s time, given everything we saw last week.”

Clarifying the NZF guidelines on emissions accounting, green rewards and support for vulnerable countries could help make the framework more robust and strengthen its chances of adoption, he said.

The Pacific Islands bloc had pushed hardest for a carbon price in the past few years and reacted with disgust at the US’ actions. Several delegates walked out of the IMO chamber in protest on Friday.