Heavyweight shipowners including big Greek and German companies have swung behind a French plan to introduce mandatory slow-steaming.
A total of 113 shipping companies have signed an open letter to the IMO backing the idea.
The letter, obtained by TradeWinds, says: "Effectively addressing climate change is possibly the greatest challenge of our time."
To meet the IMO's carbon reduction targets, the shipowners add: "New operational measures will need to be implemented for both the existing fleet and new ships and immediate reductions achieved by 2023.
"Recent history shows that reducing the global fleet’s operational speed after the 2008 economic crash led to dramatic reductions in GHG [greenhouse gas] emissions. This speaks to the real-world effectiveness of a potential prescriptive speed measure in helping achieve reduction targets."
Big names on board
Signatories include Tor Olav Troim's 2020 Bulkers, Reederei Nord and Peter Dohle.
The Greek contingent numbers the Tsakos group, Victor Restis, Star Bulk Carriers and companies run by the Vafias family, John Dragnis and the Alafouzos clan.
But John Fredriksen's companies have not signed up.
"The signatories to this letter unite in stressing the urgent need for shipping to make its appropriate contribution to addressing climate change," the letter says.
"As the initial step we express our strong support for the IMO implementing mandatory regulation of global ship speeds differentiated across ship type and size categories," it adds.
The owners want to set maximum annual average speeds for containerships, to allow them to carry perishable goods faster when needed, and maximum absolute speeds for the remaining ship types.
"Such a regulation should be implemented as soon as possible and the obligation for compliance should be placed both on shipowners and operators, including charterers," it says.
It wants all parties at the forthcoming IMO MEPC74 meeting to support the move.
Other signatories include AM Nomikos, Alexander Oetker Schiffahrt, Almi Tankers, Awilco LNG, Besiktas Shipping, Borealis Maritime, C Transport Maritime, Centrofin and Chartworld.
Eastern Mediterranean has also signed up, as have Euronav, Laskaridis, Safe Bulkers and Marmaras Navigation.
Environmental groups like the Clean Shipping Coalition (CSC) and Greenpeace also signed.
The move follows efforts by respected French shipowner Philippe Louis-Dreyfus to build support for the issue.
