Arsenio Dominguez: We believe in multilateral partnerships and we believe in global shipping regulations.
Capital Link had the honor to host as a Keynote Speaker Mr. Arsenio Dominguez, Secretary General of the International Maritime Organization (IMO), at the 17th Annual Capital Link Shipping & Marine Services Forum , which was held with great success and participation on Tuesday, September 16, 2025 in London.
The Forum was organized in cooperation with ABS and in the context of the “London International Shipping Week 2025”.
The KEYNOTE SPEECH of the Secretary General, titled “STEERING THE GLOBAL INDUSTRY THROUGH TRANSFORMATION”, was followed by a Q&A discussion, with the President of Capital Link, Mr. Nicolas Bornozis.
Mr. Christopher J. Wiernicki, Chairman and CEO – ABS, delivered Introductory Remarks.
Mr. Wiernicki, stated: “Ladies and gentlemen, it is a real honor to introduce a leader whose influence reaches across borders. And whose commitment to the maritime industry is both unwavering and deeply respected.
Arsenio Dominguez, secretary General of the IMO has taken the helm at a moment of extraordinary complexity for our industry, and he has done so with vision, integrity, and a deep understanding of the challenges we face.”
KEYNOTE SPEECH
Mr. Arsenio Dominguez, Secretary General – International Maritime Organization (IMO), stated:
“This is not the easiest time for the industry. It doesn’t mean that the IMO will not continue to deliver not only on the efforts, but on the commitments that have been made in several areas. From the environment, decarbonization in particular, together with the enhancement of protection of the seafarers at the same time as increasing safety and security.
All that comes with your participation, cooperation, understanding, and your input to the process. There is an understanding that we still have some challenges and concerns to address, but that’s what we excel at IMO. We listened; we move forward, we bring every single party together because we believe in multilateralism and we believe in global regulations for this industry.”
Q&A DISCUSSION
Discussion of Mr. Arsenio Dominguez, Secretary General – International Maritime Organization (IMO), with the President of Capital Link, Mr. Nicolas Bornozis:
Question:
How does IMO plan to allocate revenues from the new global GHG levy—specifically between technology R&D, green fuels, and support for developing nations?
Answer:
“We are in the process of establishing the framework of the guidelines on how we’re going to distribute the revenues of the collections from the economic measure. It’s been made very clear that there will be a reward mechanism for early movers, for those that are using green technologies as well as zero to net zero fuels. This is the investment that we need to make in supporting member states in the process of decarbonization.
That starts with small and developing states and least developed countries. We have already mentioned that we will work with the countries when it comes to infrastructure and require bunkering facilities as well as port infrastructure, because we understand the need for ship-to-port interface.
Now when it comes to this distribution of revenues in relation to R&D, the development of further technologies for green fuels as well as the training and wellbeing of seafarers is important. So, the projection is that with the entry into force in 2027 and the collection will start afterwards by around 2028-2029, the projection is to collect around between $10 and 12 billion, which of course are going to put into the sector in order to support the decarbonization.
I know there have been proposals, and in particular if I can mention the International Chamber of Shipping because they have already submitted their assessment into how the rewards mechanism should be addressed in relation to distribution of revenues, and that’s already part of the work plan for the organization that will start the week right after the externalization of the MEPC. Once the amendments are adopted, next month we will be working with the next set of guidelines.”
Question:
What is the IMO’s role in facilitating global availability of alternative fuels (ammonia, methanol, hydrogen, LNG) and ensuring safety standards for their use? Also, for LNG in particular, is the IMO ensuring safety standards for its use?
Answer:
“Our regulatory processes are there to stimulate the change in the technological development. That’s why we are fuel and technology agnostic. The next set of rules are the ones that are going to create that additional push for everyone to start moving into the phase of decarbonization.
But I keep calling on all the early movers. There’s several out there right now that are already taking those steps to move towards decarbonization. We have ongoing projects within the organization right now such as the Green Voyage as well as Fuels Technologies.
We are using pilot projects in several countries where we’re testing technologies that can support decarbonization, both at the international shipping trade as well as the domestic fleets. We are expanding our portfolio in that respect with the pricing mechanism coming into force. There would also be funding that will go further into research and development, not only at IMO but throughout the sector, in order to incentivize that.
You also mentioned LNG, a fuel we started working with a long time ago. Our work with LNG is actually assisting us in relation to other fuel gases and how we can tackle the safety aspects as well as the training requirements. LNG is a transition fuel as well as a fuel in transition. So, within the lifecycle assessment, we are addressing all the fuels that are there.
We recognize that the scaling up will eventually take place, but around the mid-2030s, and that was reflected in the goal set for 2030. The aim is to strive for 5% of uptake of renewable fuels aiming at 10%. Nevertheless, all that information was already known to us during the assessments, and that’s the way that we choose to move forward.
Question:
Shipowners argue that decarbonization targets may outpace technology readiness. How does IMO respond to these concerns?
Answer:
“I’ve seen the progress in automation and decarbonization and the presentations that we have received, the ship models of the prototypes of the ammonia vessels are impressive. The first one is actually coming into service next year.
I have also seen the developments that exist around the world in relation to ammonia and hydrogen. Singapore is already carrying some of those fuels. Similarly, the training requirements have been developed when it comes to LNG. The engine manufacturers are making stride in reducing the methane slip, so the signs are there, and the research and development demonstrates that yes, we still need the upscaling.
And again, I speak for the early movers because some are waiting for the rules first to come into place before the actions are taken. Now, I don’t criticize the sector in that respect because for me it’s human nature. We normally attempt to wait until the very end before we act upon it, but I will not stop calling for everyone that can take the first steps and be one of those leaders to immediately take action. And that, is part of the reward that is going to be acknowledged, with adoption of the economic pricing mechanism.
Question:
The rise of the “dark fleet” undermines safety, sanctions compliance, and fair competition. What concrete actions is IMO taking to address this growing risk?
Answer:
“People sometimes don’t recognize this, but I always find this question more challenging for me to address because of some of the limitations that we have at IMO in relation to the shadow fleet. We’re a technical organization.
I have the support of the member states from the moment that I took over as Secretary General last year in saying that whenever geopolitical actions or situations have a negative impact in shipping, in particular in sea freighters, I will get involved within the REIT of the organization and engage with all the agencies and countries that can support us.
The shadow fleet when looking from the perspective of our regulatory process, we’re carrying out the scope and exercise within the legal committee of IMO in order to review how the rules applied and where we can identify any gaps that can strengthen the implementation of the IMO rules.
We adopted our resolution at the assembly in 2023, calling on member states to address the increase. Nbers and incidents in the shadow fleet, particularly in those related to ship-to-ship transfer lack of insurance coverage on the ships, as well as the turning off of AAS and LRIT in order not to disclose the position of the vessel. Our program of technical cooperation and capacity building, in particular to developing countries, is also there to enhance the implementation of IMO instrents.
We rely on post state control, and at the last meeting for the subcommittee implementation for IMO Instrents we took the to move forward towards establishing a database at IMO where we can collect all the information from post state controls so it can be freely accessed by them.
At the same time, we are engaging with the UN in in order to deal with the root causes of what is causing the darkened shadow fleet. Sanctions are not within the remit of IMO. We don’t deal with them, and that’s what I always refer to substandard shipping in my message that no ships that do not comply with regulations should not be operating out there. It is a progressive challenge for us because we don’t have all the answers, all the solutions, and we rely on the support from member states. There’s an increased nber of fraudulent registries. It’s an area where it’s difficult for us to completely put an end to it right now, if I’m honest.
It’s like when we deal with cyber-attacks, the attackers get creative and we need to continue to enhance the governance and power that the member states of IMO have. The same approach applies to the darkened shadow fleet.”
Question:
Why can’t the IMO know or recognize that some ships have false flags, whilst we know that some countries do not do an issue ships registry?
Answer:
“It’s not that we don’t recognize it. IMO as an organization doesn’t have implementing powers. We rely on the member states. We assist with the implementation of the instruments.
The moment that we get information that a ship is fraudulent, that their registry doesn’t exist, we put it on the database, we contact the member states, and we highlight the need for them to carry out an investigation.
I wish that we had the funds to support an investigation. But we’re limited when it comes to the funding as well. We’re asked to cut costs, even though we need to do more. But that’s okay. I have a good understanding with the member states and they’re very supportive.
We need to highlight this with the member states, as sometimes they’re not aware that this is happening. A company can set up somewhere and just start selling certificates on behalf of country by the time that the country realizes that that’s the case, it’s already 20 ships that are there flying the flag, and they’re not aware.
So, we are working on raising that awareness and improving the way that we report information on a database. We’ve seen an increase in fraudulent accounts in our databases and we are now working on introducing additional safety measures.
We are, we are working against people that are becoming very creative in doing this. So again, it’s not that we don’t want to do it, there are just challenges on how far we can go and we rely on the exchange of information with the member states, the actions that they can take and the information we can provide.”We are, we are working against people that are becoming very creative in doing this. So again, it’s not that we don’t want to do it, there are just challenges on how far we can go and we rely on the exchange of information with the member states, the actions that they can take and the information we can provide.”
Question:
What progress has been made on mandatory adoption of electronic data exchange, and how will it improve trade efficiency?
Answer:
“The decision has entered into force, although it hasn’t been fully implemented by all the member states yet. We have specific programs supporting the member states in order to carry out first data internal analysis. We have noticed that it is perceived that the Maritime Single Window is just a system that you install.
The reality is that we need to look at how that system is going to work within the country, how it’s going to connect with the other entities that are required to also share the information in advance in order to actually facilitate trade. So right now, we are working on implementation.”
Question:
What’s IMO’s roadmap for integrating autonomous ships into international regulation and ensuring liability clarity?
Answer:
“Finalization of the voluntary code is set to take place next year by the Maritime Safety Committee. As soon as we finalize the voluntary code there, the facilitation committee and the legal committee will look into their remit, their aspects and that includes liability. We aim at early 2030s for the finalization of the mandatory code and for its entry into force.
In the meantime, I also want to take this opportunity to reiterate that we are acknowledging progress in relation to automation and are taking advantage of it. That doesn’t mean that the goal is to eradicate or eliminate seafarers from onboard the ships for certain routes. We have seen already that in some parts of the world short sea shipping benefits from ship automation. However, when it comes to ocean going vessels, we need the support from the seafarers.
That’s why this is one of those areas of technological advancement that will enhance the operational aspects of the ships, increase safety, sustainability and environmental credentials of the vessels, while at the same time address some of the difficulties and challenges that we’re facing when it comes to the han element.
We talked about the lack of qualified seafarers available to operate within the sector as well as the fact that we also don’t have enough seafarers onboard the ships. And of course, fatigue continues to be one of the main causes for accidents. At the same time, there’s a lot of admin burden technology here that can support the seafarers and then allow them to actually look into the specific task that needs maintaining.
They can focus on the maneuverability and safety of the vessels and not so much the paperwork that they also have to do.”
Question:
Will IMO move toward real-time emissions reporting and transparent compliance monitoring?
Answer:
“I don’t have the answer to that right now. One of the objectives that is set for the organization is to enhance transparency in all the work that we do, the way that we share information, the way the operators also share information, as well as the way that we communicate with everyone else, including ourselves.
We talked about how we cooperate, and you probably noticed that I don’t use those words, “cooperation and collaboration” very loosely because I always want to focus on the actions of how we are doing it. There are still areas of the organization we are looking to enhance. The transparency and the sharing of information, I’m sure this is one of those topics that will continue to be debated, and the more trust that we build amongst each other, the easier it is going to be to shed information as well.
Question:
How is IMO preparing seafarers for the green transition, especially in training for new fuels and technologies, while also ensuring fair treatment and welfare?
Answer:
“When it comes to the training, we are currently going through the comprehensive review of the STCW convention.
The plan right now is to finalize the review by around 2029. However, we also agree because of the importance of the safety aspects and training of decarbonization, that we will progress with those requirements in developing the necessary training standards.
We started this year focusing on methanol and ethanol training because those were the fuels that we had more data and input from. We agree that next we will move into ammonia, as well as hydrogen derived fuels. And of course, we are progressing on the technology from carbon caption and sequestration.
Further than that, it’s not secret that we also started to consider the review of nuclear technology in shipping. As we move ahead, we will be developing all these training requirements. The pricing mechanism will also provide that financial support for these areas when it comes to sea farers.
Regarding the topic of welfare, it is important to note that we must maintain our relationship with international labor organizations as we focus on the training when it comes to the social aspects of shipping.
This is where, particularly the maritime Labor Convention of 2006, is the one that set the standards. We work very closely with ILO in this respect because we share the guidelines for the inspection of the ships, but at the same time, I’ll continue to request and ask for the industry to invest in sea farers.
We want to attract new talent, we want to demonstrate that we care about the people that make this industry move every single day for the benefit of everyone in the planet, including all of us sitting here. We need to invest and we need to treat seafarers better. We need to provide them with better accommodation, with proper coverage, Wi-Fi etc. We need to treat them in the same way that we treat our staff here in land.”
Question:
Can the Secretary General elaborate on efforts to enhance gender equality and diversity within the maritime sector as part of IMO’s broader strategy?
Answer:
“The numbers from the recent survey that we disclosed in May of this year, demonstrated that there was more participation in the survey, but at the same time, the numbers regressed rather than increased in relation to the participation of women.
We are progressing \ when it comes to recruitment, support training, and mentoring programs within the IMO in order to enhance not only the visibility but the participation of women too.
In order to demonstrate that we’re serious, we take small tokens of specific tangible actions, like not participating in panels when there’s no female representation. We have actually touched on that respect by creating a database of qualified women that are registered and ready to participate in any shipping events.
We all talk about leadership; we will not be able to change this pattern if we don’t first demonstrate said leadership. That means that we don’t have to be always the ones that have to be present at the events.
Question:
What do you see as the IMO’s top priority for the next five years, and how will you balance the competing pressures of decarbonization, digitalization, and maritime security?
Answer:
“Decarbonization will continue to be on the top of the agenda of IMO. The geopolitical negative effect that certain actions are having in shipping will also continue to be at the top. Then of course, seafarers, not only regarding the areas of training and the criminalization of seafarers and how we can further support them, but also how we make the sector more diverse when it comes to the people.
We keep progressing. We learn from experience, we learn from all of you, technological development, and that’s how we continue our work. It’s challenging, but it’s very interesting. It’s a great time to be part of this sector because it allows us to see the progress that we make, and the areas where we can continue to improve in.
We want to make this sector one that demonstrates its credentials, that is committed to continue to provide over 80% of goods to everyone around the world, and that is serious in being sustainable. Onwards, we want to share that experience and expertise with others.
We need support from the other sectors to meet all our goals. We need to learn from them, but we also want them to learn from us and engage more with us.”
ABOUT THE FORUM:
The Forum presented a unique opportunity to meet and network with a large, high-caliber audience of ship owning and offshore executives, institutional investors, research analysts, industry experts, commercial and investment bankers, risk advisors, private equity and venture capital firms, high-net worth investors, and financial media. The event was open to the buy and sell side communities as well as the media. By attending, participants gained a deeper understanding of the current state of the shipping and marine services industry, the subsequent effects on their investments, and a clear focus on the opportunities and challenges ahead.
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