Quadrant On Shipping | Issue 7 | Autumn 2025

The last year has been an eventful one, with continued economic and geopolitical uncertainty creating both challenges and opportunities for businesses operating in the shipping industry. Likewise, a slew of new cases and legislative reforms generated significant changes to both principle and practice.

As for geopolitical developments, the most dramatic has undoubtedly been the disruption caused by the Israel-Palestine conflict, which substantially reduced shipping activity in the Red Sea as a result of several attacks on merchant vessels by Houthi rebel groups. This resulted in a substantial and sustained increase in freight rates over the course of 2024. This more than counteracted the influx of additional tonnage which had been ordered across the industry during the COVID-19 pandemic. It is unclear, however, whether rates will hold up in the coming year, given the resurgence of protectionist economic policies amongst major economies such as the United States, which