The ICS Maritime Barometer Report 2025–2026 reveals an industry adapting to an increasingly complex operating environment shaped by geopolitical instability, regulatory uncertainty, and economic volatility.
The report by the International Chamber of Shipping (ICS) was launched on 23 June at the organisation’s Shaping the Future of Shipping Summit in Rome. The ICS Maritime Barometer surveys C-suite level leaders, shipowners, and operators worldwide to identify the key risk areas shaping shipping.
The 2025-2026 Barometer saw a record number of responses from shipping leaders worldwide, with the report identifying geopolitical instability as the sector’s most significant concern. The report suggests this instability acts as a risk multiplier across a range of challenges including cybersecurity, regulatory fragmentation, administrative burden, and changing global trade patterns.
Also read: IMO and shipping in the crossfire of global politics
Coordination, regulatory clarity, and financial support
The findings highlight a more fragmented and less predictable environment for international shipping, while also underscoring the sector’s continued resilience and ability to adapt. The report emphasises shipping leaders’ call for greater coordination, regulatory clarity, and financial support to ensure shipping can continue to facilitate global trade while progressing its energy transition.
Commenting on the Maritime Barometer Report, ICS Secretary General Thomas Kazakos says: ‘Global shipping is entering a period where uncertainty is no longer an interruption to business, it is the backdrop against which decisions are made. The findings of this year’s Barometer are clear: geopolitical instability has become a defining risk multiplier, influencing everything from market conditions and operational planning to investment decisions and the pace of the energy transition. In response, industry leaders are taking an increasingly pragmatic approach, prioritising resilience, adaptability and proven solutions.’
Also read: Shipping at the forefront of geopolitical crises
LNG, biofuels and HFO most viable fuel options
The Barometer’s dedicated fuels section highlights how regulatory and market uncertainty is shaping the industry’s approach to decarbonisation. Respondents identified LNG and biofuels as the most viable fuel options for the next decade, followed closely by heavy fuel oil (HFO) combined with abatement technologies. This reflects a potential preference for solutions supported by established supply chains and infrastructure.
While alternative pathways continue to be explored across the industry, challenges related to cost and availability remain significant. The findings suggest that without regulatory certainty, the industry’s transition is likely to follow a more measured trajectory.
Reflecting on the industry’s practical approach, Kazakos adds: ‘Maintaining progress will require regulatory clarity, global alignment, and continued cooperation between industry and governments. The Report reinforces the importance of stable international frameworks that support investment and provide confidence for long-term decision making. At a time of increasing fragmentation, maintaining a consistent global approach is essential for shipping, supply chains, and the wider world economy.’
Also read: IMO postpones decision on shipping’s Net-Zero Framework
