The top concerns for leaders in the global maritime industry

The Global Maritime Forum, Marsh and the International Union of Marine Insurance have released the 2022 edition of their Global Maritime Issues Monitor – an in-depth report highlighting the top concerns that will impact the global maritime industry over the next 10 years.

The Global Maritime Issues Monitor is based on a survey of maritime industry decision makers from six continents and commentary from more than a dozen leaders and experts, and sheds light on the critical issues – and priorities – facing the maritime industry.

For the second consecutive year, decarbonization of shipping and new environmental regulations were the top two issues in terms of impact.

The authors found that maritime leaders are becoming increasingly aware of the urgent need to decarbonize their operations and fleets.

This is driven by expectations from stakeholders such as investors and customers, but also by the growing number of regulations that are entering the maritime scene.

Regulations include the Energy Efficiency Existing Ship Index (EEXI), which aims to halve the total CO2 emissions of international shipping by 2050 compared to 2008, and the Carbon Intensity Indicator (CII), a metric that measures how CO2 efficient a ship transports goods or passengers over the distance it travelled.

“The maritime industry is not alone in its worries about preparedness for climate change adaptation,” said Amy Barnes, Head of Climate and Sustainability Strategy at Marsh.

Not surprising, fuel price increases and geopolitical tensions rose to the high positions in terms of likelihood and impact, reflecting the outbreak of war in Ukraine and the spiralling prices for fuel.

Talent is another area that is keeping leaders awake at night. In the last two years, both the expected impact and the likelihood of workforce and skill shortages have increased markedly.