Cyprus Shipowners’ Association: Appeal to EU member states to reject the IMO’s Net-Zero Framework

The Cyprus Union of Shipowners (CUS) is making an urgent entreaty to the Member States of the European Union — and successful peculiar to the Government of the Republic of Cyprus — to ballot against the projected International Maritime Organization (IMO) Net-Zero Framework (NZF), which is scheduled for adoption astatine the MEPC ES.2 league (14–17 October).

According to the Association, the framework, arsenic it stands, represents a terrible menace to shipping, the European economy, and vigor security, by imposing a multibillion-euro “tax” without genuine biology gain. The CUS warns that the implementation of the NZF would disproportionately interaction tiny and medium-sized enterprises (SMEs), substance inflation, and undermine the sustainability of the European fleet, portion calling for an hold of discussions toward a much realistic, technologically mature, and just attack to the decarbonization of shipping.

Full Announcement

The Cyprus Union of Shipowners (CUS) urges the EU Member States, and particularly the Government of the Republic of Cyprus, to vote against the projected Net-Zero Framework (NZF) of the International Maritime Organization (IMO), truthful that much clip whitethorn beryllium granted for broader statement earlier adoption astatine the MEPC ES.2 league (14–17 October).

As presently drafted, the NZF poses a serious threat to shipping, to Europe’s economy, and to its vigor security, portion besides delivering a dense stroke to small and medium-sized enterprises (SMEs) — the backbone of European shipping.

In essence, the model represents a multibillion-euro tax that does not trim emissions but alternatively shifts the load onto extremity consumers, driving ostentation passim the European Union.

The NZF imposes excessive charges contempt the lack of realistic technologies oregon infrastructure to alteration compliance. It relies connected alleged “green” fuels — methanol, ammonia, hydrogen, and synthetic LNG — which are not disposable astatine concern scale and consume much renewable vigor to nutrient than they yet deliver.

Instead of reducing emissions, the model diverts important fiscal resources distant from genuine technological and vigor innovation, thereby slowing the transition to cleaner solutions.

Shipping carries implicit 90% of planetary trade.
Any further costs imposed connected ships volition inevitably beryllium passed connected to the prices of each goods and services — from nutrient and medicines to earthy materials and energy.
The effect volition beryllium widespread terms increases, higher surviving costs, and intensified inflation.

Implementing the NZF volition pb to supply shortages astatine a clip erstwhile no mature oregon scalable alternatives beryllium to capable the gap.
As a result, SMEs — the backbone of the EU’s maritime assemblage — volition look competitive disadvantages, starring to setbacks for the EU arsenic a whole.

Such an result would mean:

• A permanent strategical setback for Europe, with the nonaccomplishment of its planetary shipping leadership.
• Serious ecological harm, arsenic premature vas replacement would make monolithic discarded and further emissions.
• Disruption of planetary proviso chains, causing delays, shortages, and higher transport costs.
• Accelerated inflation and loss of purchasing power crossed Europe and beyond.

Europe remains heavy babelike connected LNG imports, which presently get astatine more than treble the U.S. home price.
Under the NZF, these costs are expected to emergence adjacent further, driving up energy prices, inflationary pressures, and deepening the vigor crisis — with disproportionate impacts connected households and industry.

International shipping is the astir businesslike and environmentally sustainable mode of transport.
Through technological innovation, operational optimization, and continuous investment, the manufacture has significantly reduced emissions, adjacent arsenic commercialized volumes person multiplied.

Shipping is simply a pillar of the Cypriot economy and a strategic assemblage for Europe arsenic a whole.
Cyprus, arsenic a large maritime nation, indispensable enactment the European user and the improvement of a global incentive-based decarbonization system, whose revenues would beryllium reinvested into the maritime industry — portion rejecting unfair, ineffective, and damaging multibillion-euro taxation schemes, whether determination oregon global, that deficiency transparency and wide mechanisms for however funds volition beryllium used.

The Cyprus Union of Shipowners supports global policies of meaningful biology advancement nether the IMO’s auspices — and truthful calls connected the Government of the Republic of Cyprus and each EU Member States to vote against the existent IMO Net-Zero Framework (NZF), to let much clip for statement among cardinal stakeholders.

Every solution, the Association stresses, indispensable beryllium based connected research, technological innovation, and realistic, scientifically grounded approaches that support people, the economy, the environment, and industry, without crushing economies and consumers.