Greek shipowners have declared support for a Liberia–Panama proposal and urged that new emission targets be set with reference to fuel supplies available on the market, ahead of International Maritime organisation negotiations beginning on 1 September 2026.

The position was set out by the Union of Greek Shipowners, according to a report published by reports on 31 August 2026. The UGS said emission goals must reflect what the bunker market can actually supply if they are to be practicable.

The UGS told the report that the currently approved NZF contains "significant weaknesses" and is not fit for purpose in its present form. The organisation called instead for a global framework that combines emissions reductions with economic viability.

UGS backing of Liberia–Panama proposal

The reports headline stated that Greek shipowners back the Liberia–Panama proposal as delegations prepare for the MEPC 85 session at the IMO. The UGS backing, as reported, comes at a time when member states will consider revisions to greenhouse gas measures for international shipping.

Market‑readiness and policy design

The UGS emphasised that emission targets divorced from the realities of bunker availability risk imposing measures that cannot be implemented globally. The association argued that any new rules should be calibrated to the fuels and supply chains that exist or can reasonably be expected to be developed.

The UGS position links the pace and scale of regulatory ambition to the practicalities of the fuel market rather than endorsing fixed, prescriptive targets that do not account for supply constraints. The union framed the need for balance between environmental objectives and the economic capacity of shipping to transition.

The organisation’s criticism of the NZF, expressed in the phrase "significant weaknesses," was presented as one element of its wider call for a combined environmental and economic framework. The report places that critique alongside support for the joint proposal from Liberia and Panama.

reports provided the account on 31 August 2026 and noted the timing of the discussions ahead of the IMO meeting on 1 September 2026. The UGS contribution is one among a number of industry positions expected to be tabled during the MEPC 85 negotiations.

The coming sessions at the IMO will test whether proposals that tie emission goals to bunker market realities can gain sufficient support among member states. The UGS set out its preference for a regulatory approach that seeks emissions reductions while retaining commercial viability for ship operators.

Key factual points from the report

  • Source: reports, 31 August 2026.
  • Union of Greek Shipowners supports the Liberia–Panama proposal.
  • UGS wants emission targets to be determined by what the bunker market can supply and described the approved NZF as having "significant weaknesses."