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Shipping & Safety Report 2019

Safety & Shipping Review 2019

Large shipping losses are now at their lowest level this century having declined by over 50% year on year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. Our annual study analyzes reported shipping losses over 100 gross tons (GT).

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Worst accident locations and common causes of loss
Shipping loss and incidents data

The South China, Indochina, Indonesia and Philippines region remains the top loss location, cargo ships accounted for a third of vessels lost and fires continue to generate large losses.
Emissions compliance brings challenges
Emissions compliance brings challenges
Regulation limiting sulphur oxide emissions from January 2020 is likely to be a game-changer for the shipping industry, with wide-ranging implications for cost, compliance, crew and claims.
Security threats evolve and challenge
Security threats evolve
Political risk has heightened around the globe and increasingly poses a threat to shipping security, trade and supply chains through conflicts, territorial disputes, cyber-attacks, sanctions, piracy and even sabotage.
The growing number of incidents on larger vessels is concerning
The growing number of incidents on larger vessels is concerning
Container-carrying capacity has almost doubled over a decade and a worst case loss scenario could cost as much as US $4bn in future.
Autonomous shipping makes waves
Autonomous shipping makes waves
As problems with container ships have shown, innovation and technology is not a panacea if the root cause of incidents and losses is not addressed.
Trusting technology
Trusting technology
Safety-enhancing technology in shipping has been a positive for safety and claims, yet accidents continue to happen due to overreliance – even down to losses occurring from crew being on phones.
Other AGCS News & Insights
Which way will the wind blow? Another hurricane season in the Atlantic is just around the corner. How disruptive will it be? The AGCS Catastrophe Risk Management Team reviews the 2018 Hurricane season and previews 2019.
Copyright © 2019 Allianz Global Corporate & Specialty, All rights reserved.

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