ICS Maritime Barometer 2024–25 Highlights Growing Risks from Political Instability, Cyber-Attacks, and Administrative Burdens
In advance of the upcoming Athens summit, the International Chamber of Shipping (ICS) has released the Maritime Barometer 2024–25, an annual survey capturing the evolving perspectives of over 100 C‑suite maritime leaders on risk and resilience. The report highlights a notable shift in industry sentiment, underlining the urgent need for coordinated action.
The survey ranks the top three concerns currently weighing on global shipping executives:
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Political instability is now considered the leading risk. Increasing geopolitical tensions—such as those stemming from the Ukraine conflict, South China Sea disputes, and broader protectionist policies—are creating uncertainty in trade routes, regulations, and strategic clarity.
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Cyber‑attacks remain the second highest concern as maritime operations continue to digitise. Security threats from both state and non‑state actors are viewed as increasingly sophisticated and disruptive.
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Malicious physical incidents, including attacks on vessels and crew, have risen sharply in importance. The survey highlights an uptick in incidents near the Red Sea and other hotspots.
Additional pressures include rising protectionism, driven by energy security policies and regional economic shifts, and ongoing regulatory complexity, particularly around decarbonisation and alternative fuel adoption.
Despite the challenging risk landscape, the ICS report notes a measurable increase in industry confidence, attributed to clearer regulatory guidance from the IMO and growing momentum behind the IMO’s net‑zero emissions framework. However, clarity in policy—especially regarding fuel infrastructure, public funding, and market‑based measures—remains critical.
Why It Matters
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Operations and crew safety: Routes are being adjusted to avoid high‑risk areas, and concerns about crew welfare amid armed attacks are climbing, spotlighting the human impact of geopolitical instability.
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Regulatory navigation: Shipping companies need streamlined, workable standards to support decarbonisation, without triggering excessive administrative burden or trade disruptions.
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Industry collaboration: Effective risk management increasingly requires collaboration among shipping firms, insurers, governments, navies, and international bodies such as the IMO and ILO.
As the industry heads to Athens, the Barometer outlines four strategic imperatives:
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Deploy comprehensive cybersecurity measures and digital resilience across fleets and ports.
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Enhance crew protection protocols, particularly in volatile maritime zones.
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Advocate for simplified, coherent regulatory frameworks that align decarbonisation with operational realities.
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Foster stronger insurance and risk-sharing mechanisms that support safe navigation in high‑risk areas.
In summary, the ICS Maritime Barometer 2024–25 provides a compelling snapshot of heightened risk awareness in the global shipping community. Political turbulence, digital threats and regulatory complexity are defining the year's priorities. The Athens summit offers a timely opportunity for collective action aimed at building a safer, more sustainable and resilient maritime industry.
