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International

Marine hull losses down, but grounding related losses up: Report

April 01, 2015 Reprints

The International Union of Marine Insurance's recently released Spring Statistics shows that hull losses continued to fall, Hellenic Shipping News reports.

The cost of salvage and wreck removal was found to be increasing significantly, the report said. An increase was also reported in the frequency of weather- and grounding-related losses, Hellenic Shipping News reported. The report also found that cargo theft, misappropriation of cargo and mysterious disappearances were becoming more severe.

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Marine hull losses down, but grounding related losses up: Report

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