At MEPC 83 in April 2025, a basket of mid-term measures- US$380 per tonne of CO2eq emissions, or privately agree to reframed as the IMO Net Zero Framework'-was agreed. At other ships which out performed the direct compliance target. in October 2025, MEPC decided to postpone the decision on Between the direct compliance and base targets, vessels whether to adopt the IMO Net Zero Framework for a year. . Full details of the new framework, which was originally due to come into effect on 1 March 2027, can be found in LR's MEPC 83 Summary Report, noting that as a result of the decision to years of the regime. The draft regulations then set out that by adjourn the meeting which has delayed adoption, the dates within the Framework will require review. 1 January 2032,the IMO must determine the reduction targets at 65% below the reference 2008 GFlof the global fleet. the GHG Fuel Intensity (GFI) standard and pricing mechanism. Ships of more than 5,000GT (with some exceptions) will be As with FuelEU Maritime, vessels with a compliance surplus- average of GHG energy intensity of energy sources it uses, Surplus Units. Surplus Units banked from the previous two including fuel, but also energy from other sources, and savings in emissions from technology such as carbon capture. The years can be used to balance a Tier 2 compliance deficit, or methodologies to be published in future guidelines. Separately from the reduction trajectories, a reward is mechanism, a vessel's annual attained GFl is compared to two annual GFl reduction trajectories, with target values 2034, and 14gCO2eq/MJ from 2035. This would likely include e-LNG made using renewable electricity and carbon capture. penalties-in the form of Remedial Units—-will need to be paid. thereafter. There is also scope for MEPC to agree other Zero