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Safety and Shipping Review 2014

Following the Safety and Shipping Review 2013, this annual release by Allianz Global Corporate & Specialty analyzes the shipping losses (of over 100 gross tons) which occurred in 2013 and focuses simultaneously on key maritime developments over the same period of time.

More than two years after the Costa Concordia disaster, improving passenger ship safety continues to be a priority. With more than 90% of global trade estimated to be carried by sea, the safety of international shipping vessels and routes is critical to the health of the global economy.

For the first time, the AGCS Safety and Shipping Review 2014 also includes the total number of shipping casualties/incidents by region. There were 2,596 casualties during 2013 with the
East Mediterranean & Black Sea region the top hotspot (464), and the British Isles has been the scene of the most casualties over the past decade (see page13).

During 2013 there were 94 losses reported worldwide, ensuring the annual total dropped under 100 for only the second time in 12 years, continuing the recent downward trend. These losses are a 20% decline from 2012, which reported 117 losses.

The Safety and Shipping Review 2014 also focuses on safety concerns ranging across topics, from hazardous cargo to passenger ship safety to pollution control. Recent accidents, such as the sinking of the MOL Comfort (an overweight container ship) or the St Thomas of Aquinas (Philippine-registered 1972-built ferry), signal experts as to where standards need to be more closely examined.

According to the report, more than a third of 2013’s total losses were concentrated in two maritime regions. As in 2012, the South China, Indo China, Indonesia and the Philippines region saw the highest number of losses (18 ships), closely followed by the seas around Japan, Korea and North China (17 ships).

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Emerging Risks

While the report offers details on topics that have historically challenged marine safety, it also looks at the rising trends and emerging risks that seafarers will need to regard. An increasingly difficult operating climate for ship operators has forced a number of innovations, including larger ship sizes to capitalize on economies of scale, the use of alternative fuels and changes in ship designs. At the same time, more economical trading routes are fast appearing in Arctic regions during the summer months, but these present their own set of challenges.

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Download Full Size Infographics:

> Growth of Container Ship Size and Insured Vessel Values

> Piracy Around the World / (High Res Version)