Number of Ship Total Losses Lowest in a Century

• During the annual Safety and Shipping Review, it was mentioned that 2,698 shipping incidents tallied by Allianz were just 1% lower than in 2017.
• Allianz said 46 large ships over 100 gross tons were total losses worldwide in 2018, less than half the 98 lost in 2017 and 55% below the 10-year average of 104.
• Machinery damage and failure accounted for 40% of the 2,698 incidents last year and a third of the more than 26,000 incidents aboard ships over the past decade.
• Fires continue to generate...

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