In this episode of the Decisive Podcast, host Kristen Hallam dives deep into the complex world of the maritime shadow fleet, exploring its emergence and evolution since the introduction of the oil price cap on December 5, 2022. Joined by Ines Nastali, Senior Supply Chain Analyst at S&P Global Market Intelligence, the discussion covers how these oil tankers operate outside traditional regulatory frameworks, often evading sanctions imposed by various governments.

Listeners will gain insights into the size and characteristics of the shadow fleet, which includes an estimated 940 tankers, many of which are older vessels that may not meet modern safety standards. Ines shares key statistics, including the significant increase in shadow fleet activity and the sophisticated tactics employed by these vessels to circumvent sanctions, such as turning off AIS signals and engaging in ship-to-ship transfers.

The episode also highlights recent enforcement actions taken against shadow fleet vessels, particularly in the Baltic Sea, and discusses the environmental and safety concerns associated with these aging ships. Tune in to understand the implications of the shadow fleet on global oil trade and the evolving landscape of maritime compliance.

Whether you're a maritime professional, a supply chain analyst, or simply curious about the intricacies of global oil transportation, this episode offers valuable insights and a comprehensive overview of a pressing issue in today's geopolitical climate.

More S&P Global Market Intelligence Content:

• Maritime shadow fleet − Formation, operation and continuing risk for sanctions compliance teams in 2025
• Fraudulent flags: Growing challenge for maritime safety
• The New Tariff Reality: Preparing for Disruption, Defending Your Margins

Credits:

• Host: Kristen Hallam
• Guest: Ines Nastali
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive, we're sharing highlights from our US macroeconomic webinar on May 20, featuring expert commentary from our economics team at S&P Global Market Intelligence.

We dive deep into the forecast for the US economy, which faces a slowdown. Projected growth is expected to average just 0.8% per quarter in 2025, raising questions about the potential for a recession. We explain the anatomy of a recession, walking through recent examples, and share our outlook.

Our economists also discuss the implications of elevated tariffs, which are contributing to inflationary pressures and reshaping business investment decisions. The Federal Reserve's cautious approach amid policy uncertainty is also explored, with expectations for a pause in rate adjustments until late 2026.

Listeners will gain valuable perspectives on the rising federal budget deficit, projected to increase from 6% to 7% over the next decade, and its effects on the US dollar, which is anticipated to weaken in the coming years.

Join us for this informative episode as we unpack these critical economic trends and equip you with the knowledge to navigate the evolving landscape. Stay curious and stay informed with The Decisive Podcast.

More S&P Global Market Intelligence Content:

• Recession Risks
• Global Economic Outlook: May 2025
• Trade and tariffs insights and news

Credits:

• Host: Alyssa Grzelak
• Guests: Juan Turcios, Ben Herzon, Pat Newport, Mike Konidaris
• Produced By: Debbie Taylor, Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive Podcast, host Kristen Hallam explores the complex landscape of tariffs under the current administration, focusing on the implications of Section 232 reviews. Joined by experts Chris Rogers and John Anton, the conversation covers the nuances of industry-specific tariffs that impact a wide range of sectors, from steel and aluminum to electronics and pharmaceuticals.

Listeners will gain insights into the ongoing tariff negotiations, the potential ramifications for supply chains, and the strategic decisions companies must make in response to these economic shifts. With a keen eye on upcoming deadlines, including the pivotal date of July 9th, this episode provides a comprehensive overview of how tariffs could reshape market dynamics and influence pricing strategies across various industries.

Tune in to stay informed and prepared for the changes ahead in the world of trade.

More S&P Global Market Intelligence Content:

• IEEPA Tariffs on Hold Following Court Ruling
• Delayed Increase in US Tariffs on EU Indicates Preference for Negotiated Solution
• Trade and tariffs insights and news

Credits:

• Host: Kristen Hallam
• Guests: Chris Rogers, John Anton
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun