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Lecture 7 - Climate risk and disruptions in the maritime transport

Welcome

Shipping is an industry highly exposed to climate risks. From droughts that limit vessel loading capacity to temperature shifts that alter the dynamics of commodity trade, climate change directly affects maritime operations.

In this lecture, we explore how shipping is exposed to climate risk and how operational as well as financial strategies can be used to hedge against it.

The lecture also includes a case study, shared in the Resources section, where we examine how decarbonization strategies intersect—and sometimes collide—with perceptions of climate risk.

What you’ll learn from this lecture

  • Sensitive maritime elements affected by climate
  • Climate risk in the maritime transport
  • Operational and Financial strategies to hedge against climate risk
  • Climate risk perception and operational management

Learning Outcomes

Skills
  • Can communicate with industry practitioners using correct terminology
  • Considers the economic, political, and ethical issues relevant to the shipping industries
Competency
  • Exchanges opinions and experiences with others with a background in the field
  • Communicates problems, methods and solutions from the analyses both in writing and oral
Knowledge
  • Is familiar with recent developments in data-driven analysis applied to the freight markets, ship operations, and more environmentally friendly operations

Fuentes, G. & Munim, Z. H. (2025). Climate influence on Panama Canal operations: Predicting Canal Water Times with integrated environmental and operational data. Transportation Research. Part E, Logistics and Transportation Review, 203, 104319–.https://doi.org/10.1016/j.tre.2025.104319

Case study in the Resources section

Pensum

Climate effect into geopolitics?.