AGCS

Shipping losses fall, but that’s not the whole story

shipping losses and incidents

First the good news, then the bad. That’s the main take away from marine insurer Allianz Global Corporate & Specialty SE’s Safety & Shipping Review 2022. The good news is that though 54 large ships were reported total losses last year, that compared with 65 a year earlier and continued a positive trend that has seen total losses down 57% over past decade.

On the other side of the coin, the number of reported shipping casualties or incidents rose. The British Isles saw the highest number (668 out...

https://www.marinelog.com/legal-safety/safety-and-security/shipping-losses-fall-but-thats-not-the-whole-story/

Large Shipping Losses Have Decreased 38% Over The Decade

There were 94 total losses reported around the shipping world in 2017, down 4% year-on-year — the second lowest in 10 years after 2014, says an article published by MH&L.

AGCS Survey Report

In 2017 the downward trend of large shipping losses continued, according to a new survey, Allianz Global Corporate & Specialty’s (AGCS) Safety & Shipping Review.

Looking at the past decade the decline was 38% globally.

There were 94 total losses reported around the shipping world in 2017, down 4% year-on-year...

https://mfame.guru/large-shipping-losses-have-decreased-38-over-the-decade/

AGCS Releases Safety and Shipping Review 2020

  • The Safety and Shipping Review 2020 identify loss trends in the maritime sector.
  • AGCS is an annual report which contains shipping loss and incident statistics from the past 10 years.
  • The sector saw the number of reported total shipping losses of over 100GT decline.
  • There is a significant improvement on the rolling 10-year average of 95 down by over 50%.
  • South China, Indochina, Indonesia, and the Philippines remains the main loss hotspot.
  • It is accounting for almost 30% of losses over the past...

https://mfame.guru/agcs-releases-safety-and-shipping-review-2020/

Asian Waters Accounted for a Third of Vessels Lost At Sea

  • Asian waters accounted for a third of large vessels lost at sea globally.
  • Large shipping losses are at a record low having fallen by over 20% year-on-year.
  • South China, Indochina, Indonesia, and the Philippines maritime region remains the top loss location.
  • Japan, Korea, and the North China region saw 2 vessels lost in 2019.
  • High levels of trade, busy shipping lanes, older fleets, typhoon exposure, and safety issues are the factors.
  • AGCS study analyses reported shipping losses of over 100...

https://mfame.guru/asian-waters-accounted-for-a-third-of-vessels-lost-at-sea/

War (Insurance) – What Is It Good For?

Frigate at Sunset

Political rivalries and conflicts are increasingly being played out on the high seas, increasing risks for ship owners and seafarers, as demonstrated by a number of hostile incidents involving vessels in one of the world’s most important shipping channels, the Strait of Hormuz and the Persian Gulf. Marine hull, cargo and war insurance policies can help protect vessels sailing into risky waters but how do they work and how are recent events impacting the insurance market?

At its narrowest it is...

http://www.sashippingnews.com/2019/08/15/war-insurance-what-is-it-good-for/