The urgent need for global collaboration over protectionism in the maritime sector was the resounding message from the ‘Shaping the Future of Shipping’ Summit, held last month at the historic Athens Conservatoire. Hosted by the International Chamber of Shipping (ICS) in partnership with the Ministry of Maritime Affairs and Insular Policy of the Hellenic Republic and the Union of Greek Shipowners, the summit convened maritime leaders worldwide for a critical dialogue on the industry’s strategic priorities.
The summit served as a timely platform for reflection as the shipping industry grapples with the converging pressures of decarbonization, geopolitical tensions, and global trade fragmentation.
“In a period of phenomenal upheaval, the world around us is shifting in profound and sometimes disconcerting ways,” stated Emanuele Grimaldi, ICS Chairman, during his opening address on June 11, 2025. He cautioned that rising trade barriers are escalating costs for consumers and eroding the cooperative spirit vital to maritime trade. “We must continue to think and act on a global scale. Shipping, by its very nature, is a global industry. It makes little sense to tackle our challenges in fragmented regional ways.”
Eyes on the IMO and the Path to Net-Zero
A significant portion of the summit focused on the forthcoming ratification of the International Maritime Organization (IMO) Net-Zero Framework. Attendees voiced strong support for multilateral action through the IMO, urging governments and industry to push for its adoption in October.
Chris Bonett, Malta’s Minister for Transport, Infrastructure and Public Works, underscored the urgency: “We have to get the job done in October. If we want to keep a predictable industry, then we have to, all of us, implement the IMO Framework because that will apply for everyone. I cannot stress that enough.”
Nick Brown, CEO of Lloyd’s Register, highlighted the critical developments at the IMO’s Marine Environment Protection Committee (MEPC), noting a “more aggressive reduction curve than many were expecting.” He encouraged shipowners to capitalize on this momentum: “Every single drydocking of every single vessel must now be fully evaluated to capture efficiency, efficiency, efficiency – as quickly as possible.”
However, Melina Travlos, President of the Union of Greek Shipowners, raised concerns about the representativeness of the process. She stressed that “the expert input of the industry must be fully reflected in maritime policymaking, at national, regional and global levels,” adding that recent IMO deliberations did not sufficiently incorporate industry voices. “Without safe, scalable and globally available alternative fuels, decarbonisation will remain a theoretical goal. Funds raised must be directed back into the industry to support its transition. No growth is possible on the back of stranded investments.”
Decarbonization Demands Collective Action
Speakers unanimously agreed that the shipping industry cannot achieve decarbonization in isolation. Ioanna Procopiou, BIMCO Vice Chair and CEO of Prominence Maritime SA, delivered a stark assessment: “There are good regulations and bad regulations. Bad regulations can destroy any industry.” She emphasized that shipowners alone cannot bear the cost or responsibility: “We need the co-operation of all stakeholders— charterers, engine manufacturers, cargo owners, bunker suppliers, energy providers. At the moment, we are going to be paying and polluting because there’s no way of complying.”
The necessity for a holistic system transformation was echoed by Rolf Thore Roppestad, CEO of Gard, who warned against the risks of misaligned incentives from isolated national or regional rules. Melina Travlos further cautioned that “unrealistic set goals,” increased regionalism, and fierce international competition threaten the sustainability and integrity of maritime regulation.
Fu Xuyin, Vice Minister of Transport for the People’s Republic of China, provided insight into China’s significant strides in this transformation. “Intelligent and smart shipping are flourishing,” he stated, detailing efforts to green China’s ports and fleet. Shanghai Port has completed the country’s first green methanol bunkering operation, and 60% of container trucks at key hub ports now run on clean energy. He also highlighted the operation of “the first pure battery-powered river-to-sea containership capable of carrying 700 TEU.”
