Allianz Global Corporate & Specialty has released annual review report on trends and development in shipping losses and safety. Key points are as below;

Shipping losses – by location , type of vessel and cause.

In review – trend and developments affecting shipping safety.

Future challenges – important issues and key risks.

  • 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

Pls download executive summary – Executive summary -2015