The Decisive Podcast: Insights and analysis to empower confident decision-making.

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
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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

In this episode of The Decisive, host Kristen Hallam shares highlights from a July 15 webinar on how Gulf Cooperation Council economies are adapting to trade disruption, infrastructure risk and shifting growth priorities. S&P Global Market Intelligence experts Kevjn Lim, Chris Rogers and Jamil Nayyem join Ralf Wiegert to discuss how the region is moving beyond immediate disruption toward longer-term questions about resilience, trade continuity and economic diversification.
The conversation explores the practical limits of alternative routes around the Strait of Hormuz; the role of pipelines, ports, rail and corridor connectivity; and the implications for supply chains that depend on Middle East petrochemicals and other industrial inputs. The panel also examines what recent PMI data suggest about supply conditions across the GCC, how infrastructure investment could support non-oil growth, and why geopolitical uncertainty, fiscal pressure and execution risk may shape the pace of recovery.
Topics covered include:
How global buyers have responded to disruption in Middle East trade flows, including the different recovery paths for energy products, petrochemicals and industrial materials.
The distinction between temporary workarounds and permanent bypass infrastructure around the Strait of Hormuz.
Why pipelines, export terminals, port rerouting, rail links and multimodal corridors could make Gulf trade routes more layered and diversified.
How June PMI data point to tentative improvements in supply conditions across parts of the GCC, while demand and confidence remain sensitive to geopolitical conditions.
What resilience-led investment could mean for logistics hubs, industrial zones, port operators, freight forwarders, manufacturers and regional value chains.
More S&P Global Market Intelligence Content:
Midyear Economic Check-In
Geopolitical Risk Brief: July 2026
Global outlook marred by further slide in emerging market business confidence
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Middle East war 
Red Sea maritime and aviation risks
Credits:
Hosts: Kristen Hallam, Ralf Wiegert
Guests: Kevjn Lim, Jamil Naayem, Chris Rogers
Produced By: Debbie Taylor, Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive, host Paul Smith is joined by senior economists Andrew Harker and Phil Smith to discuss the latest signals from the global Purchasing Managers' Index™ (PMI™) data and what they reveal about the direction of the world economy.
The conversation revisits key themes from the previous PMI episode, including stockpiling, uncertainty, supply chain disruption and inflation risks linked to the tensions in the Middle East and the effective blockade of the Strait of Hormuz. The economists explain how recent PMI data suggest some easing in inflation pressures and uncertainty, although both remain elevated compared with historical norms.
The episode also explores why high-frequency PMI data can be especially valuable during periods of economic volatility, helping businesses, policymakers and forecasters assess turning points before slower-moving official data becomes available. Paul discusses how PMI signals can be combined with broader macroeconomic projections to provide a clearer view of both near-term conditions and longer-term trends.
Other topics include the outlook for the eurozone economy, global export conditions, the continued impact of tariffs, and the divergence between weaker PMI export readings and stronger official export data driven in part by AI-related demand. Phil and Andrew highlight how the AI boom is showing up in semiconductor prices, manufacturing performance and capital expenditure intentions, particularly in the US.
The episode closes with a look ahead to future PMI research on AI adoption and its impact on the workforce. This is the final episode before the summer break, with The Decisive returning in August for more insights and analysis.

More S&P Global Market Intelligence Content:
PMI data and commentary
Global Economic Outlook: July 2026
Click here to learn how the Purchasing Managers' Index (PMI) and the World Economic Service (WES) help corporate planners interpret shifting global growth signals
For S&P Global subscribers (login required):
Middle East war
Policy rate prospects
Credits:
Host: Paul Smith
Guests: Andrew Harker, Phil Smith
Produced By: Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive, host Kristen Hallam speaks with Ken Wattret, vice president of global economics at S&P Global Market Intelligence, about frequently asked client questions on the recent oil shock, the conflict in the Middle East and the possible implications for the global economy.
The conversation was originally recorded on May 12 and considers how the jump in crude prices compares with past oil shocks, why the length of the disruption is critical, which economies appear most exposed, and what indicators can help track the effects on growth, inflation and monetary policy.
Ken explains that the increase in Brent crude prices following the start of the Middle East conflict was unusually large, with the monthly rise exceeding 40%. He cautions that the shock is still unfolding and that shortages, if they develop, could intensify the negative effects on global growth.
Although S&P Global Market Intelligence's base case still points to continued global expansion, Ken says the global real GDP growth forecast has been revised down markedly since February. Ken says global growth surprised to the upside in 2025 despite extreme uncertainty over U.S. trade policy, repeated tariff announcements and fears of retaliation, suggesting economies have adjusted to repeated shocks in recent years.
Key risks discussed in the episode include a failure to reach an agreement to end the conflict, a resumption or spread of hostilities, more persistent disruptions to energy production and supply, higher-for-longer prices, possible shortages, stronger inflation, higher-for-longer interest rates and asset-price problems.
Listen to the full episode for Ken Wattret's perspective on how the oil shock could affect global growth, inflation and monetary policy — and what indicators may signal where the risks are headed next.
More S&P Global Market Intelligence Content:
Midyear Economic Check-In
Geopolitical Risk Brief: June 2026
Banking Risk Monthly Outlook: July 2026
For S&P Global subscribers (login required):
Monthly Macro Monitor
Middle East war
Credits:
Host: Kristen Hallam
Guest: Ken Wattret
Produced By: Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

At midyear 2026, agility is no longer just a strategic advantage — it is a requirement for navigating structural change. In part two of this two-part series, The Decisive host Kristen Hallam continues the conversation with S&P Global Market Intelligence experts Ken Wattrett, Laurence Allan and Eric Johnson to explore how AI is showing up across the three strategic themes for 2026 outlined in the Age of Agility report. 
AI is presented as a connective force across the Age of Agility themes: it is supporting economic growth through major investment, reshaping geopolitical power dynamics through emerging technologies, and forcing companies to adapt to new trade and logistics realities. The discussion also flags a key risk: AI is a powerful growth engine, but dependence on one investment theme could create concentration risks if the boom proves uneven or short-lived.
The experts also discuss what they are watching for the rest of 2026 and into 2027 including:
Fiscal pressure and debt sustainability
Middle East conflict and energy market volatility
AI as a growth driver — and a concentration risk
Supply chain regionalization
Trade policy and USMCA negotiations
More S&P Global Market Intelligence Content:
Age of Agility report
Global Economic Outlook: June 2026
Geopolitical Risk Brief: June 2026
US warehousing expanding faster at key inland hubs
For S&P Global subscribers (login required):
Monthly Macro Monitor
Frequently asked question: Do the effects of prior oil price shocks provide any pointers for the period ahead?
Credits:
Host: Kristen Hallam
Guests: Ken Wattret, Eric Johnson, Laurence Allan
Produced By: Debbie Taylor, Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun