Climate risks in shipping

Abstract This article presents a structured and holistic analysis of key climate-related transition risks facing the global shipping industry. As maritime transport undergoes decarbonization, it is confronted with a range of interdependent challenges, which can be ordered in five primary categories: litigation, policy, contractual, technological, and social risks. These risks interact in complex ways, giving rise to cascading effects that can amplify operational, legal, and financial vulnerabilities throughout the maritime supply chain. Drawing on a targeted literature review and legal doctrinal analysis, this study develops an analytical framework to identify, categorize, and understand these interconnected risks. Rather than offering an exhaustive inventory, the article illustrates how different categories of risk may reinforce one another, highlighting the limitations of siloed approaches to risk management. The paper emphasizes the importance of coordinated regulatory frameworks, adaptive contractual arrangements, and proactive industry engagement to mitigate risks effectively. By mapping the selected risks and their interactions, the article contributes to ongoing academic debate and supports more informed decision-making in the shipping sector’s transition toward a low-carbon maritime future.