Shipping & safety review by Allianz

Annual shipping and safety data by Allianz has been published, it shows improved safety and lesser losses because of robust safety environment and self-regulation. Below are key points of the report;
•85 large ships lost worldwide in 2015, down by 45 percent over a decade. Saturday is the safest day and Thursday is the most frequent day for shipping incidents.
•Losses has increased in top global hotspot, i.e. South China and South East Asian waters.
•safety concerns are rising due to pressurising cost caused by Economic and market conditions.
•There were 2,687 reported shipping incidents (casualties including total losses) globally during 2015, down 4 per cent.
•For the first time in five years, piracy attacks failed to decline in 2015 (source International Maritime Bureau). South East Asian attacks rose, accounting for 60 per cent of all incidents. Attacks in Vietnam surged year-on-year.
•Lower emissions safety threat: There have been unexpected safety implications from the shipping industry’s drive to reduce emissions, resulting in power issues related to rising use of ultra-low sulfur fuel. AGCS has seen an increase in machinery claims related to fuel.
•Cyber risk exposure is growing beyond data loss. Pirates are already abusing holes in cyber security to target the theft of specific cargoes.

Read Allianz review report

Source – AGCS safety and shipping Review 2016

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