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The Ukraine effect podcast: Shipping’s shifting macro risk

A special Lloyd’s List Podcast series examining how the situation in Ukraine has had a lasting impact on different aspects of the shipping industry

Chapter 4: The macroeconomic and geopolitical risk factors that determine long-term strategic thinking in shipping are becoming more complicated and the conflict in Ukraine has left businesses reassessing their options



THE shipping industry has had to adapt rapidly since Russia invaded Ukraine in February 2022. Trade lanes have been rerouted, the most extensive set of sanctions in living memory has been hastily constructed and a super-charged “dark fleet” of opaque operations has sprung up, forcing shipping to navigate an increasingly complex risk-and-compliance landscape.

In this special podcast series, Lloyd’s List’s editorial team are joined by a cast of industry experts as they examine the lasting implications of the conflict in Ukraine for shipping.

You can listen to the full podcast on demand via the link in the banner below:


This fourth edition of the podcast looks at why one of the lasting effects of the Ukraine war is going to be a significantly elevated series of risk factors for shipping.

Previous episodes examined why the evolving minutiae of many compliance regimes means that the business of shipping is getting more complicated, but there is a bigger picture here as well. The macroeconomic and geopolitical risk factors that determine long-term strategic thinking in an industry that necessarily needs to look at least 20 years into the future on any given asset deal, is getting more complex.

Disruptions are of course part and parcel of shipping and in many ways shipping has often thrived, financially speaking, in times of war. But today’s edition of the podcast proposes that there has been a shift.

The wider series of tipping points that a shipowner has to consider are now much more complex than they ever have been before, and the impact of the past 12 months has forced shipping businesses to start mapping out risks that they have never previously even thought of considering.

On today’s edition of the podcast:

  • Cormac McGarry, associate director at Control Risks, talks about the changing risks for shipping as a result of war in Ukraine.



For a live in-depth discussion on risk-and-compliance, and how to navigate through evolving sanctions risk, please join us on April 20 for our next webinar featuring market leading experts and the Lloyd’s List Intelligence analysts. For more details and to register, follow the link below:


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