The 15th edition of Lloyd’s List’s annual ranking of the most influential people in shipping finds the industry in a state of flux.

The optimism evident in recent editions has given way to pragmatism in the face of uncertainty.

Geopolitical risk is partly to blame for this more cautious approach from industry influencers this year. The full impact of a Trump 2.0 presidency is yet to be revealed, but it is not just uncertainty over trade, tariffs and conflict that has left many of the Top 100 hedging their bets. Next year will reveal whether shipping’s decarbonised ambitions are to become a reality.

The specifics of the policy measures set to be agreed at the International Maritime Organization will affect almost every aspect of global maritime trade. Until that happens much of the decision making is on hold and shipping’s boardrooms are in wait and see mode.

This year’s list is still replete with the bold moves, power plays and investment you would expect from a list of the most important industry players. But it is what happens next year that will really ripple through global supply chains and determine where the influence lies in this annual list.