Ship Losses Reach 10 Year Low
A new report by Allianz Global Corporate and Specialty indicates that ship losses are at a 10 year low.
The Executive Summary of that report is as follows:
- 75 large ships lost worldwide in 2014, down 32% year-on-year
- South China and South East Asian waters top loss hotspots
- East Mediterranean and British Isles top locations for incidents
- Cargo and fishing vessels account for over 50% of all losses
- Ship size growth raises risk management concerns. Industry should prepare for $1bn+ loss
- Lessons not learned from overreliance on e-navigation. Cyber protection a major concern
The complete report is at this link.