World News
IMO Net-Zero Framework Could Generate $11-12 Billion in Revenues
The IMO’s proposed Net-Zero Framework (NZF) could generate around $11-12 billion in annual revenues, if adopted in its current form, according to the Global Maritime Forum.
If approved, it is expected to support the uptake of low and zero-carbon marine fuels while also funding a global climate fund aimed at ensuring a just and equitable transition for the maritime sector, it said in a report on Thursday.
However, questions remain over how the fund would be governed and how revenues would be distributed.
A report says the design of the fund will be central to whether the measures gain broad support.
It outlines that the fund will likely be built around four core elements: impact areas, governance, recipients, and delivery mechanisms, with different combinations leading to very different outcomes.
It also points to a key governance choice between full IMO control or working with existing climate finance institutions, which could allow faster rollout.
The report adds that without safeguards, funding could favour countries with stronger project pipelines, and concludes that a blended approach will be needed to scale zero-emission solutions while ensuring a fair transition.
The NZF, agreed in principle in April, failed to secure a final vote in October 2025 after opposition from a US-Saudi-led bloc, with delegates instead postponing a decision by one year.
It remains to be seen whether member states will adopt the framework in its current form later this year or move forward with a diluted version.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1015.50 | 54.50 | 1822.50 | 50.50 |
| Rotterdam | 847.50 | 32.00 | 1358.50 | 71.00 |
| Houston | 836.50 | 20.00 | 1315.50 | 11.00 |
| Fujairah | 1074.50 | 29.50 | 1744.50 | 53.00 |
| Global 20 Ports Average | 1053.00 | 4.50 | 1601.50 | 0.00 |
| Global 4 Ports Average | 943.50 | 18.00 | 1560.00 | 11.00 |
| Global Average Bunker Price | 1068.00 | 19.00 | 1532.00 | 7.00 |
Popular Now More
-
Mar 18Ships do not run on tons of fuel. They run on energy, writes Fuelsure. -
Mar 19Most suppliers in Fujairah are quoting on a firm enquiry basis only as avails tighten amid ongoing disruptions, sources tell Ship & Bunker -
Mar 17At Suzun Marine Fuels, we have chosen a path that may seem unusual for a supplier. We have limited the number of bunker traders we work with to a maximum of ten.