GEAR | Talks on European shipping, alternative fuels held during Capital Link's 17th Annual Shipping and Marine Services Forum
The 17th Annual Capital Link Shipping and Marine Services Forum was held in London on September 16, 2025.
The forum was organized in cooperation with ABS and in the context of the London International Shipping Week 2025.
The IMO on GHG emissions and alternative fuels
One of the keynote speeches for the forum was delivered by IMO Secretary-General Mr Arsenio Dominguez and was followed by a Q&A discussion with Capital Link President Mr Nicolas Bornozis.
"We are in the process of establishing the framework of the guidelines on how we're going to distribute the revenues of the collections from the economic measure," Mr Dominguez in response to a query on how the IMO plans to allocate revenues from the new global GHG levy.
"It's been made very clear that there will be a reward mechanism for early movers, for those that are using green technologies as well as zero to net zero fuels. This is the investment that we need to make in supporting member states in the process of decarbonisation."
As for the IMO's role in facilitating global availability of alternative fuels such as ammonia, methanol, hydrogen and LNG, Mr Dominguez said the organisation is "fuel and technology agnostic," and that there are pilot projects in several countries where testing is being conducted on technologies that can support decarbonisation, both at the international shipping trade as well as the domestic fleets.
Greece, Cyprus and global shipping
As part of the forum, the Shipping Ministers of Greece and Cyprus, Mr Vasilis Kikilias and Mrs Marina Hadjimanolis, and Dr Nikolas P Tsakos, Founder and CEO of TEN, participated in the keynote discussion titled "Shipping in a New Era: Aligning Ambition, Regulation and Reality."
During the discussion, Mr Kikilias emphasised that the IMO and the European shipping fleet constitute "a big family" and therefore must be "compatible" to serve the common good.
"Europe cannot lose European shipping," said Mr Kikilias, highlighting that Europe must be able to keep pace with other regions, particularly the US and China. "Europe has to show its advantages and European shipping will play a key role in terms of that."
Mr Kikilias and Mrs Hadjimanolis then went on to talk about Greece and Cyprus' respective shipping industries and how these industries can contribute to global development.
"Today, we are home to one of the world’s largest fleets and a vibrant shipping cluster that brings together global expertise and innovation," said Mrs Hadjimanolis.
"Our strategic location at the crossroads of three continents, combined with a robust regulatory framework and our growing role in the energy sector, has established Cyprus as a trusted maritime hub and a forward-looking partner for the global industry."
Mrs Hadjimanolis added that, ultimately, shipping thrives on collaboration.
"Whether through joint innovation, harmonised incentives, or shared best practices, governments and industry must work hand in hand. Cyprus is committed to playing its part as a bridge between regions, as a voice for pragmatic solutions, and as a partner in shaping a more sustainable and resilient future for global shipping."
