Vessel losses due to foundered (sunk or submerged) accounted for half of all reported shipping losses over the past decade. In 2015 it was the cause of almost 75% of total losses, often driven by bad weather, its highest proportion of all losses over the past decade. One in five losses were related to vessels being wrecked/stranded (grounded). There were no total losses resulting from a piracy incident for the fourth successive year.
Causes of Total Losses: 2006-2015
2015 is the second year in a row that annual losses have dropped below 100 and the third time this has occurred in the past five years, driven in part by an increasingly robust safety environment. Together, cargo (506) and fishing vessels (213) have accounted for almost 60% of the 1,231 losses over the past decade. Bulk carrier ranks third (97). Cargo has topped the loss rankings every year for the past decade.
Causes of Total Losses: January 1, 2015 – December 31, 2015
For every year over the past decade foundered has been the most common cause of loss for large ships. In 2015 it was the cause of almost 75% of total losses, often driven by bad weather, its highest proportion of all losses over the past decade. Such incidents were up 25% year-on-year. There were significant reductions in the number of wreckings/strandings and fires/explosions year-on-year.