Decline in Confidence is Turning Shipowners Away from New Fuels

The ICS Maritime Barometer Report 2024-2025, launched by the International Chamber of Shipping (ICS), reveals a steady decline in confidence among global maritime leaders to manage the risks posed by increasing political instability, alongside a growing hesitance to adopt new fuels.

Now in its fourth year, the ICS Maritime Barometer draws on comprehensive survey data to identify the key risk areas shaping the strategic priorities of C-suite level leaders, shipowners and operators worldwide. This year’s results highlight an increasingly volatile geopolitical environment, with political instability emerging as the most significant concern across the industry for the third consecutive year since the 2022-2023 report.

Over four years of data, there has been a consistent decline in shipping leaders’ confidence to manage geopolitical and regulatory challenges. This unease is compounded by uncertainty around future fuels and infrastructure, with many respondents expressing a desire for clearer pathways to support decarbonization goals.

Cybersecurity has also grown in prominence, now firmly established as a top-tier risk. Industry leaders report increasing concern over vulnerabilities posed by digital integration and emerging technologies, especially in the context of heightened geopolitical tension.

Given the uncertainty around global politics and changing decarbonization regulation, maritime leaders are decidedly more bullish towards