At the opening session of the Maritime Cyprus 2025 Conference in Limassol, Greek shipowners expressed broad support for decarbonization, while warning that current regulatory approaches risk becoming more about revenue generation than meaningful emissions reduction.
George Procopiou (Dynacom Tankers) urged a focus on “doable, not desirable” measures — such as slow steaming, carbon capture, and technical efficiency upgrades. Semiramis Paliou (Diana Shipping) argued that although shipping’s share of global emissions is modest, overly burdensome costs imposed on the sector will eventually reach end consumers.
John Coustas (Danaos Corporation) cautioned that regional mechanisms like the EU Emissions Trading Scheme could undermine competitiveness unless they are aligned with IMO-level policy. Thanassis Martinos (Eastern Mediterranean Maritime) criticized the EU framework as “unfair and disruptive,” observing that ships traversing non-EU waters could be penalized inconsistently.
On day two, more shipowners weighed in. John A. Xylas (Ariston Navigation) restated that a single global regulatory regime under IMO is essential to ensure fairness and predictability. Polys V. Hajioannou (Safe Bulkers) warned that compliance costs inevitably ripple through the supply chain, stressing that realistic timelines and balanced mechanisms are essential. Filippos Efstathiou (Efnav) cautioned against prematurely investing in unproven technologies — “we risk investing against a moving target.” Capt. Stephanos E. Angelakos (Angelos Hellas) underscored seafarers’ critical role, advocating sustained investment in training, retention, and welfare.
Several speakers called for regulatory revenues from carbon-based measures to be reinvested back into decarbonization and for emphasis on technology-neutral approaches. Concerns were also voiced that penalizing early adopters of LNG-fueled vessels would discourage further innovation.
The conference’s collective message: the shipping industry needs clarity, stability, and shared responsibility in shaping decarbonization policy across vessels, fuels, and regulatory regimes.
