More than 90% of global trade moves by sea, but identifying who actually owns and controls the vessels behind that trade remains one of the maritime sector's biggest compliance challenges. In this episode of The Decisive, host Kristen Hallam speaks with Jeremy Domballe, Product Director of Maritime Intelligence and Risk, about the hidden ownership crisis at sea and why beneficial ownership transparency matters for sanctions compliance, illegal fishing, money laundering risk and supply chain integrity. Jeremy explains how complex corporate structures, shell companies, nominee arrangements and rapid ownership transfers can obscure the true decision-makers behind maritime assets. He also discusses why vessel tracking alone is not enough, how regulatory gaps create risk for governments and businesses, and why a more vessel-centric approach to due diligence — or "know your vessel" — is becoming essential. What you'll hear in this episode: Why beneficial ownership is one of the hardest maritime risks to identify clearly The limits of vessel tracking and port security when ownership data is opaque The business, legal, reputational and operational risks of engaging with vessels tied to hidden owners Practical steps regulators, port authorities, financial institutions and maritime companies can take to improve transparency Why "know your vessel" due diligence may become increasingly important for maritime risk management More S&P Global Market Intelligence Content: Click here to access the latest Maritime State of Play report The Gulf Puzzle: Strategic Implications for Global Shipping Networks Transshipment: Frequently Asked Questions For S&P Global subscribers (login required): Chokepoints vs. shortcuts: Supply chain outlook for critical maritime routes Red Sea maritime and aviation risks Credits: Host: Kristen Hallam Guests: Jeremy Domballe Produced By: Kristen Hallam Edited By: Marz Marcello Published With Assistance From: Sophie Carr, Feranmi Adeoshun

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