The volume and frequency of shipping sanctions have reached unprecedented levels, becoming a major focus of industry news. This year has seen more targeted sanctions and increasingly sophisticated circumvention tactics, including the growth of a “dark fleet” that operates outside traditional regulations and poses heightened risks.
The political landscape is also evolving, with uncertainties surrounding Donald Trump’s sanctions strategies and potential increased pressure on Iran post-January 2021. However, the larger question centers on how sanctions against Russia will unfold and their broader implications for shipping.
The industry is effectively divided into two tiers: one segment adheres to stringent compliance, regulation, and decarbonization efforts, while another operates outside the rules with no safety standards, insurance, or legitimate flags, often earning higher profits as a result.
These challenges framed discussions at Lloyd’s List’s recent Outlook Forum in London, where experts including Michelle Linderman, Daniel Martin, Michelle Wiese Bockmann, and Bridget Diakun analyzed sanctions risks and compliance. This panel discussion forms the second part of Lloyd’s List’s podcast series on the topic.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Lloyd’s List
