THE geopolitical landscape changed seemingly by the hour in 2024, and 2025 has started in a similar vein.

Cable cutting, new tranches of sanctions from the outgoing Biden administration and Chinese shipping giant Cosco being placed on a US Department of Defense sanctions for links to the Chinese military – all of that has happened in the first 10 days of 2025.

But before all of that though, our risk and compliance experts gathered to discuss what they would be looking out for in 2025 and what you should be expecting from the year ahead.

They discussed how sanctions handed down by multiple governments are attempting to control the trade of a growing dark fleet*, the increase in Automated Identification System manipulation, plus they debate whether shipping will return to the Red Sea in 2025.

Joining reporter Joshua Minchin on this episode are:

• Michelle Wiese Bockmann, principal analyst, Lloyd’s List

• Tomer Raanan, senior maritime reporter, Lloyd’s List

• Bridget Diakun, maritime risk analyst, Lloyd’s List

* Lloyd’s List defines a tanker as part of the dark fleet if it is aged 15 years or over, anonymously owned and/or has a corporate structure designed to obfuscate beneficial ownership discovery, solely deployed in sanctioned oil trades, and engaged in one or more of the deceptive shipping practices outlined in US State Department guidance issued in May 2020. The figures exclude tankers tracked to government-controlled shipping entities such as Russia’s Sovcomflot, or Iran’s National Iranian Tanker Co, and those already sanctioned.