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International

Total hull losses fell to record 0.13% in 2013

April 10, 2014 Reprints

The percentage of total hull losses has dropped to a record low, with the frequency of losses for 2013 declining to 0.05% in terms of tonnage and 0.13% in terms of numbers, the International Union of Marine Insurance's statistics show.

The trend of reduced losses has continued for the past several years, reports Seatrade Global. Figures show that weather was responsible for nearly half of total losses in 2009 to 2013, ahead of grounding (25%).

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Total hull losses fell to record 0.13% in 2013

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