The most common cause of total losses is foundering (sinking/submerging), accounting for 65% of losses in 2014 (49). With 13 ships wrecked or stranded, grounding was the second most common cause with fires/explosions (4) third, but significantly down year-on-year.
According to the report, there were 2,773 shipping incidents (casualties) globally (including total losses) during 2014. The East Mediterranean & Black Sea region was the top hotspot (490), up 5% year-on-year. The British Isles, North Sea, English Channel and Bay of Biscay ranked second (465), up 29%, and was also the top incident hotspot over the past decade. December is the worst month for losses in the Northern Hemisphere and August in the Southern Hemisphere. For every total loss in the Southern Hemisphere there are 7 in the Northern Hemisphere.