To address greenhouse gas emissions from international shipping, the International Maritime Organization has adopted technical and operational measures, and discussed the possibility of adopting market-based measures. China, Japan and South Korea are major shipbuilding nations in the world, and have differing responses towards the IMO’s regulatory initiatives. This paper conducts a comparative assessment of these three countries’ positions on regulatory principles of the greenhouse gas issue, and concludes that their differentiated perspectives on this matter reflect their different regulatory interests. It is significant to take their differentiated interests into account in the developing regulatory regime to avoid disproportionate burdens being placed on certain countries, in particular developing countries.