Data from the ICS Barometer Report 2023-2024 – launched today – has demonstrated the positive impact that improved clarity from governmental bodies such as the International Maritime Organization (IMO) have had on the sector. The comprehensive survey of over 100 global maritime industry leaders over a three-year period analyses year-on-year shifts in sentiment on pivotal issues influencing operations. It has tracked steadily rising confidence among maritime leaders in their ability to cope with challenging operating conditions.
Areas of concern for respondents include the recent increase in geopolitical instability (which is seen as a risk multiplier as it impacts other factors), malicious physical attacks and cyber-attacks (by state and non-state actors), as well as updates to global and/or regional regulatory environments and availability of fuels and infrastructure driving decarbonisation.
Emanuele Grimaldi, Chairman of the International Chamber of Shipping, comments: “We are in a period of profound transformation—marked by decarbonisation, heightened security risks, and evolving regulations. What this invaluable data driven perspective shows is that policy and clarity are key. This report tracks our industry’s progress through recent gains in confidence, while also noting key pressure points — such as the availability of public funding for green initiatives and the impact of market-based measures — which continue to require greater collaborative effort across industry leaders, government bodies, and international partners to address.”
Protectionism was also seen as a growing risk, driven by geopolitical instability, national energy security concerns, global and regional economic crises, and government-led manufacturing incentives favouring local production. Given the impacts on trade relationships and routes, this year’s ICS Barometer Report features a special focus on reshoring, nearshoring, friendshoring and offshoring — assessing the perceived impact on shipping’s current operations, as well as the factors likely to influence decision-makers to shift their own operations.
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