Time and again, the maritime industry is described as cyclical, resilient, and the true backbone of global trade. In my years operating within the sector, shipping has proven to be all of these things—and much more. Our market regularly experiences cycles, with peaks and troughs driven by freight rates, vessel and cargo demand, as well as exogenous factors such as geopolitical tensions and an increasingly unpredictable operational landscape. Against this backdrop, shipping has consistently demonstrated its resilience, weathering crises and keeping global commerce up and running as it transport over 90% of internationally traded goods. Over the years, we have evolved, persevered, and collaborated—and we will continue to do so.
Innocent passage and freedom of navigation are foundational principles of international law, critical not only for global maritime governance but also for the seamless operation of international seaborne trade. These principles have increasingly been sidelined by geopolitical conflicts. This is a cause of profound concern for the International Chamber of Shipping (ICS), particularly as it directly threatens seafarers’ safety; it is categorically unacceptable that seafarers’ lives should be put at risk simply because they are doing their jobs.
Nevertheless, the concept of risk is clearly at the forefront today. There are risks to maritime routes; risks to supply chains; and risks stemming from geopolitical friction and a volatile trade environment. While these risks are not new, they are growing increasingly complex and, in some instances, far more acute.
Shipping has always operated in demanding environments, continuously adapting to change. This is precisely where our strength lies: we are agile and resilient. However, we also depend heavily on a stable legal and regulatory framework. The international rules governing shipping and trade are not abstract principles; they are the practical bedrock that allows ships to trade, cargoes to be delivered, and investments to be made.
Preserving this bedrock requires a steadfast commitment to multilateralism and the rule of law. It also demands a careful balancing act between commercial realities and regulatory mandates: this is the only way to ensure the industry maintains its competitiveness and operates on a level playing field globally. Protectionist policies simply do not work; trade restrictions—whether erected through tariffs or other unilateral measures—only inject added costs, complexity, and uncertainty into maritime operations. The industry requires stable conditions for growth, underpinned by open markets and fair competition.
As a global industry, shipping possesses a distinct advantage: it is one of the most comprehensively and successfully internationally regulated sectors in the world, with the International Maritime Organization (IMO) providing a universally agreed-upon framework for safety, security, and environmental performance.
In times of pervasive uncertainty, it is especially crucial that we continue to support the IMO and the multilateral system it embodies. As one of the very first non-governmental organizations to be granted consultative status at the IMO in 1961, the ICS has historically operated at the heart of the Organization, helping shape the practical regulations that govern the sector. Fragmentation—whether through unilateral trade measures or piecemeal regional regulations—ultimately undermines this multilateral system, degrading industry efficiency and driving up costs.
Our industry often operates out of sight, yet it remains the fundamental engine of economic growth. As trade routes evolve and markets adapt, shipping must remain both resilient and attractive to investment. From a practical standpoint, resilience translates into robust and diversified supply chains, ports fully equipped to support new fuels and technologies, and a workforce properly trained to meet the operational and technical demands of the fleets of the future. These are long-term investments that hinge entirely on regulatory clarity and policy stability.
Decarbonization serves as a prime example. The sector is firmly committed to the targets outlined in the 2023 IMO Strategy on the reduction of greenhouse gas emissions from ships, and has already invested billions of dollars in the testing and adoption of alternative fuels and innovative technologies. However, even though the industry is moving faster than the international dialogue, progress remains slow. This is because it is heavily dependent on the development and widespread availability of zero- or near-zero-emission fuels, alongside support infrastructure and a regulatory framework that provides the certainty required for investments to be made.
A global industry needs global rules. It is imperative that Member States chart a clear course, establishing fit-for-purpose and enforceable international regulations, so that we can advance decisively along the road to decarbonization. This will secure the regulatory certainty the shipping industry urgently requires, bolstering the confidence of energy producers and thereby accelerating both production and supply.
As we continue to navigate these turbulent waters, I am confident that our industry will persevere and forge ahead to meet our collective challenges. The collaborative nature of shipping is truly unique: industry leaders, governments, unions, and all stakeholders work in close concert—and this is precisely what makes us so adaptable. Our success, as well as the seamless continuation of global trade, is owed to this very collaboration and our steadfast commitment to an efficient and sustainable future for shipping.
Mr. Emanuele Grimaldi is the Chairman of the ICS.
