Corrects details of IMO vote procedure in first and fifth paragraphs
Singapore's proposal to defer a vote on the International Maritime Organization's (IMO) Net-Zero Framework (NZF) earlier this month was a strategic step to safeguard the progress made in developing the framework, the Maritime and Port Authority of Singapore (MPA) said.
"By the final day of the IMO meeting, the mood was no longer conducive for a vote on the adoption of the Net-Zero Framework," MPA told Argus. "Singapore assessed that, on balance, deferring the vote would best preserve the progress already made on the NZF."
As a key IMO member state, Singapore proposed the delay to allow more time for member states to address outstanding differences and build broader, more durable support across the organisation.
The MPA clarified that the postponement does not reflect a shift in Singapore's decarbonisation goals. "Singapore remains committed to accelerating maritime decarbonisation," the MPA spokesperson affirmed, noting that the pause would not hinder ongoing efforts to promote greener shipping.
The vote on the NZF was deferred by a year, following a motion tabled by Saudi Arabia and seconded by Liberia to adjourn the meeting. The framework aims to introduce a global greenhouse gas (GHG) emissions pricing mechanism for international shipping.
Some market participants, such as Danish shipping firm Maersk, viewed the delay as a setback for green fuel development. But stakeholders in China's green methanol sector remain optimistic, continuing with investment and production plans.
Overall, industry players expect limited short-term impact, as current demand for green marine fuels is largely driven by EU regulations, such as FuelEU Maritime and the Emissions Trading Scheme (ETS). The delay also offers an opportunity to reassess investment strategies and technological advancements, with the NZF expected to be revisited by the IMO in 2026.
