Top Shipping Nation Greece Shies Away From Maritime Carbon Tax

By Sotiris Nikas (Bloomberg) — Greece, home to the world’s second-largest merchant fleet, is walking back from supporting a global maritime carbon tax that has drawn backlash from Washington.

The nation currently plans to abstain from a final vote this week on an International Maritime Organization proposal to make the sector pay for its more than 1 billion tons of annual greenhouse emissions, a person familiar with the matter said, asking not to be named discussing non-public information. 

Athens had always been skeptical of the net zero framework and its impact on the shipping industry, the person said. In April, however, the country voted yes on a draft plan for the sweeping new rules. 

A spokesperson for the Greek government declined to comment.

While the European Union is pushing its members to support the maritime levy, the US is strongly opposing it. After threatening to respond with measures such as port levies, visa restrictions and tariffs, Washington proposed introducing another step in adopting the charge, which would add a further hurdle for it to come into force. 

Greece’s abstention would mark a departure of the southern European Union member state from the joint position of the bloc, which wants to lead the global fight against climate change.

The European Commission, the bloc’s executive arm, last week called for adoption of the IMO net zero framework, saying it was a “significant milestone” to decarbonize the shipping sector and ensure a level playing field.

Greek’s reservations regarding the levy have been submitted to the European authorities in writing well before the vote, the person familiar with the government’s stance added.

The net zero framework relies on fuels and technologies that aren’t available at scale, and introduces sharp penalties for not using them, the person said, adding this would inflate costs as companies chase limited supplies.

The final adoption of the new framework isn’t guaranteed due to Washington’s opposition. In April the draft plan for the new rules had gained wide support. 

Greece is the world’s second-largest ship-owning nation, trailing only China, according to data from Clarkson Research Services Ltd., a unit of the world’s largest ship broker.

© 2025 Bloomberg L.P.

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