The International Chamber of Shipping (ICS) has appointed Scottish shipowner John Denholm as its new chairman, according to Splash247, just as the organisation releases a major industry survey showing geopolitical instability as the defining challenge for global shipping.
Denholm was unanimously elected by the ICS board at its annual general meeting in Rome, succeeding Emanuele Grimaldi, who led the shipowners' body through pandemic disruption, Red Sea attacks, supply chain upheaval and accelerating environmental regulation. A chartered accountant by training, Denholm joined family-owned shipping and industrial group J & J Denholm before becoming chief executive in 1993. He now serves as executive chairman of both J & J Denholm and Denholm Energy Services and has previously held senior industry roles including president of the UK Chamber of Shipping and BIMCO.
Geopolitical Instability as a 'Risk Multiplier'
Taking up the position, Denholm said he was assuming the chairmanship during a period of "considerable upheaval and uncertainty" for both the global economy and international shipping. "Our industry continues to navigate geopolitical tensions, security threats, rapid technological change, the energy transition, and evolving trading patterns," he said.
Those themes are reflected throughout the newly released ICS Maritime Barometer 2025-2026, unveiled at the organisation's Shaping the Future of Shipping Summit in Rome. Based on a record 185 responses from maritime leaders worldwide, the survey paints a picture of an industry increasingly forced to operate in a fragmented and unpredictable environment.
The report identifies political instability as shipping's biggest risk for the fourth consecutive year, ahead of cyber attacks, regional regulation and growing administrative burdens. According to the survey, political tensions are driving regulatory fragmentation, reshaping trade routes, increasing cyber vulnerabilities and creating new compliance burdens for shipping companies. Political instability has evolved beyond a standalone concern and now acts as a "risk multiplier", amplifying operational challenges.
Cyber Threats and Regulatory Divergence
| Risk Rank | Risk Category | Key Findings |
|---|---|---|
| 1 | Geopolitical instability | Fourth year as top risk; acts as a multiplier |
| 2 | Cyber attacks | Declining confidence in ability to manage threats due to digitalisation |
| 3 | Regional/unilateral regulations | Growing divergence complicates route planning and commercial decisions |
| 4 | Administrative burden | Overlapping reporting under EU ETS, FuelEU Maritime, EU MRV, sanctions due diligence |
Cyber attacks ranked as the second-highest risk facing the industry. Respondents expressed declining confidence in their ability to manage cyber threats as shipping becomes increasingly digitalised through smart ships, remote monitoring systems and AI-enabled technologies. The report notes that cyber risks are becoming increasingly intertwined with geopolitical tensions, with ports and logistics networks viewed as strategic targets.
Regional and unilateral regulations were ranked as the third-largest risk. Shipping executives warned that growing divergence between jurisdictions is making route planning and commercial decision-making more complex, particularly as governments increasingly use tariffs, sanctions and regulation as geopolitical tools. The survey also highlights the mounting administrative burden facing shipowners as compliance requirements proliferate, with overlapping reporting obligations under frameworks such as the EU ETS, FuelEU Maritime and EU MRV regimes, alongside growing sanctions-related due diligence requirements.
Decarbonisation: Pragmatism Prevails
On decarbonisation, the findings suggest shipping companies are taking a notably pragmatic approach amid regulatory uncertainty. LNG and biofuels emerged as the joint most viable fuel options over the next decade, each receiving support from just over half of respondents. Heavy fuel oil combined with emissions-abatement technologies ranked third, ahead of methanol, ammonia and hydrogen. The preference for LNG and biofuels reflects a growing focus on fuels supported by existing infrastructure and supply chains rather than less mature alternatives. The report argues that companies are prioritising certainty and operational resilience.
Implications for Operators and Freight Forwarders
For freight forwarders, logistics managers and ocean carriers, the survey signals that risk management must become more sophisticated, particularly regarding geopolitical exposures. The political instability identified as the top risk can directly affect trade lanes, port operations and container availability, as seen in recent Red Sea disruptions. The rising cyber threat demands investment in robust IT security and contingency planning. Regulatory fragmentation means compliance teams must track multiple regimes like EU ETS and FuelEU Maritime, which can increase costs and administrative burdens. On the fuel transition, the preference for LNG and biofuels suggests that investments in alternative fuel infrastructure should focus on these mature options in the near term. Operators should monitor ICS policy developments under new chair Denholm, who inherits an industry on edge.
Watch List
- Further ICS policy direction under Denholm's leadership, particularly on geopolitical risk mitigation and regulatory harmonisation.
- Developments in cyber security standards and industry guidance as digitalisation accelerates.
- Evolution of fuel availability and bunkering infrastructure for LNG and biofuels as the preferred decarbonisation pathway.
Sources:
