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Shipping companies express concerns over UN emissions deal

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US opposes deal, threatens tariffs and restrictions

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IMO confident in deal adoption despite some opposition

By Jonathan Saul and Renee Maltezou

LONDON/ATHENS, Sept 18 (Reuters) - A group of top

shipping companies including leading Greek players said on

Thursday they want changes to a United Nations deal tabled for

adoption in October that seeks to cut marine fuel emissions,

adding complications to the draft accord after U.S. opposition.

Global shipping accounts for nearly 3% of the world's carbon

emissions, and the proposed deal is crucial to speed up

decarbonisation through a bigger regulatory framework.

The group - including some of the world's biggest oil tanker

companies such as Cyprus-based Frontline ( FRO ) and Saudi Arabia's

Bahri - said they had "grave concerns" about the so-called

Net-Zero Framework proposed for adoption next month at the

U.N.'s International Maritime Organization environmental

committee.

"As it stands, we do not believe the IMO NZF will serve

effectively in support of decarbonising the maritime industry

... nor ensure a level-playing field as intended," the companies

told Reuters in a joint statement on Thursday.

"We believe that critical amendments to the IMO NZF are

needed, including the consideration of realistic trajectories

... before adoption can be considered."

In April, countries struck a draft agreement that would impose a

fee on ships that breach global carbon emissions standards.

The United States has told countries to reject the deal or face

tariffs, visa restrictions and port levies, sources told Reuters

in September.

The joint statement said it was essential that any accord

avoided "excessive financial burdens and inflationary pressure

to the end-consumer".

IMO Secretary-General Arsenio Dominguez said he was

confident the deal would be adopted next month.

"I base that on the track record of the organization, on the

co-operation that we all have, the understanding that we still

have some challenges and some concerns particularly to address,"

he told a Capital Link shipping conference in London on

Tuesday.

Greek Shipping Minister Vassilis Kikilias told Dominguez

during London International Shipping Week earlier this week that

improvements were required.

"The minister underlined that he shares the shipping

industry's concerns," the shipping ministry said in a statement.

Sources have told Reuters that it was unclear whether the deal

could go through if opposition increased or if there were

abstentions by IMO member countries.

About 90% of the world's trade is conducted by sea, and

emissions are set to soar without an agreed mechanism.

The statement was also co-signed by Capital Group, TMS

Group, Centrofin, Marine Trust, Trust Bulkers, Common Progress,

Dynacom, Dynagas, Emarat Maritime, Gaslog, Hanwha Shipping,

Angelicoussis Group, Seapeak and Stolt-Nielsen ( SOIEF ).