Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 94

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 94
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 management, and agreement of the effective date in relation to the Red Sea and Gulf of Aden special areas under MARPOL Annexes I and V at MEPC 80. At MEPC 81, a draft outline of a possible IMO net-zero framework was contemplated including a proposed new Chapter 5 of MARPOL Annex VI to include the MTMs (defined below).

Also adopted at MEPC 81 were amendments to MARPOL Protocol 1 in relation to the reporting of lost containers expected to enter into force on 1 January 2026, and related draft SOLAS chapter V amendments requiring the master of ships involved in loss of freight container incidents to communicate with the nearest coastal State and flag State about the incident, which are expected to enter into force on 1 January 2026.

MEPC 81 also adopted amendments to regulation 13.2.2 of MARPOL Annex VI on a marine diesel engine replacing a steam system, with amendments expected to come into force on 1 August 2025.

At MEPC 82 (as referred to above) further progress was made, including: the production of a draft IMO net-zero framework (see further below) to be used at future talks, the scheduling of Intersessional Work Group meetings ISWG-GHG 18 and 19 (see further below) to discuss the IMO's mid-term measures, commencement of review of the EEXI and CII regulations, adoption of the 2024 Guidelines for the development of a SEEMP, adoption of Guidelines on recommendatory Black Carbon emission measurement, monitoring and reporting and approval of draft amendments to appendix IX of MARPOL Annex VI, among others.

  viii.      The IMO Revised GHG Strategy Mid Term Measures  

The Revised IMO GHG Strategy states that a basket of mid-term GHG reduction measures should be developed and finalized comprising (1) a technical element, namely a goal-based marine fuel standard; and (2) an economic element, based on a maritime GHG emissions pricing mechanism. It should take into account the well-to-wake GHG emissions of marine fuels, as addressed in the LCA guidelines (below) (the "MTMs").

Progress on the development of the MTMs was made at MEPC82 in December 2024.

Further development of the candidate MTMs ahead of MEPC83 was attempted by an intersessional working group (ISWGGHG 18) in February 2025, and a further meeting (ISWG-GHG19) is to take place in March 2023