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Member, Beacon International Group, Ltd.
The Nordic Association of Marine Insurers (Cefor) has said in a report that Chinese-built ships are likely to result in relatively high rates of hull and machinery claims than other vessels, reports The Maritime Executive.
"Claims frequency has been 89% higher for vessels built in China and elsewhere in the world, compared to vessels built in Japan or South Korea" in 2015, said the report.
The frequency of machinery claims for Chinese vessels were approximately twice the rate for South Korean vessels and up to six times the rate for Japanese vessels.