The imposition of new environmental obligations on Maltese ships, shipowners, and ship operators was perceived as a double-edged sword for its affected subjects. While the European Union Regulation 2015/757 augured well for a reduction in greenhouse gas emissions, the competitiveness of those in the EU industry, compared to their non-EU counterparts, was thrown open to debate. For this reason, the EU and its Member States are lobbying for a global approach to combat greenhouse gas emissions. Various strides have been made in this regard spearheaded by the Marine Environment Protection Committee (MEPC) within the IMO. However, for the time being, the Regulation may be lauded as a step in the right direction.