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Sarah Veysey

Worldwide shipping losses, piracy decrease in 2013, report shows

March 13, 2014 - 8:00am


There were 94 reported shipping losses worldwide in 2013, down from 117 the previous year, according to a report by Allianz Global Corporate & Speciality, the corporate insurance arm of Munich-based Allianz S.E.

The report, “Safety and Shipping Review 2014,” analyses losses of ships weighing more than 100 gross tons.

Asia saw the largest number of losses, AGCS said, with more than one-third of the total losses in 2013 concentrated in two maritime regions.

There were 18 losses in the South China, Indochina, Indonesia and Philippines region, according to the report, and 17 in the seas around Japan, Korea and North China.

There were no total losses off the Eastern Seaboard of the United States in 2013 and just one in the North American West Coast region, according to the report.

“While the long term downward trend in shipping losses is encouraging, there is more work to be done to improve the overall safety of these vessels as well as their cargo, crew and passengers, especially in Asian waters,” said Tim Donney, global head of marine risk consulting at AGCS in New York, in a statement.

“As an insurer, we are always concerned about recognized issues such as training and safety management. Human error is not something we can ignore, and lack of skilled workforce continues to be an issue, but we also need to be alert for new risks as the industry continues to develop,” he added.

The number of pirate attacks reported in 2013 fell by 11% compared to 2012 to 264, according to the report.

The report can be viewed here.

 



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