Allianz

Asia saw fewer total shipping losses in 2018

The frequency and cost of collision, grounding and fire incidents has increased in some areas for Asian-based ship owners and managers, but the number of total losses as a whole has reduced significantly over the past 12 months, said Allianz in its recent Shipping and Safety review 2019, recommending that newer infrastructure, better port operations and more up-to-date charts would help to address some of these issues.

In 2018, a quarter of shipping total losses occurred in the South China,...

https://safety4sea.com/asia-saw-fewer-total-shipping-losses-in-2018/

Misdeclared cargo increases risk for shipping safety

A growing number of goods are being transported by sea and in containers, including electronics and, increasingly, chemical products. However, dangerous goods are not always properly declared, which can have dire consequences, specially when considering the trend of larger vessel sizes, according to Allianz.

With several major incidents in a matter of months, fires on board container ships – potentially coming from misdeclared cargo – are a hot topic. The large size and capacity of container...

https://safety4sea.com/misdeclared-cargo-increases-risk-for-shipping-safety/

Cyber risk remains key concern for shipping

While the growing use of connected technology in the maritime sector is expected to be a positive for both safety and claims, technology also means cyber risk is a big concern for shipping. As more and more systems require connectivity with the shore, so vessels become more vulnerable to a cyber-attack, says Captain Rahul Khanna, Global Head of Marine Risk Consulting at AGCS.

Since 2017, when the industry was shaken by the Not Petya malware attack at the world’s largest shipping company, Maersk,...

https://safety4sea.com/cyber-risk-remains-key-concern-for-shipping/

Machinery failure the top cause of shipping incidents in last decade

Machinery failure (including engine failure) has risen as the top cause of shipping incidents over the past decade, a trend that is unlikely to change anytime soon, given rising repair costs and concerns over maintenance levels and larger vessels, said Allianz (AGCS) in its latest Shipping and Safety review.

For the 2019 Safety And Shipping Review, AGCS analyzed 26,022 shipping incidents between January 2009 and December 2018.

Of these incidents more than a third (8,862) were caused by machinery...

https://safety4sea.com/machinery-failure-the-top-cause-of-shipping-incidents-in-last-decade/

Unpredictable weather brings new loss scenarios for shipping

In its latest Shipping and Safety Review, Allianz discussed how the changing weather patterns observed in the last years are disrupting supply chain, resulting in physical damage shipping incidents. The report cited recent examples, such as record low water levels on the Rhine and Elbe rivers and high water in Mississippi.

In late 2018, Europe marked record low water levels on the Rhine and Elbe rivers, leaving cruise ships stranded and inland ports idle as millions of tons of goods were...

https://safety4sea.com/unpredictable-weather-brings-new-loss-scenarios-for-shipping/

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...

http://mfame.guru/number-of-ship-total-losses-lowest-in-a-century/

‘Bigger box ships mean bigger risks for everyone’

It seems the ultra-large container vessels (ULCVs) that have become the ‘new normal’ on the Asia-Europe tradelane have not proved as popular as the lines that operate them hoped.
Several shippers The Loadstar spoke to at Transport Logistic in Munich last week could not hide their aversion to the ocean behemoths – and it appears the insurance industry also has concerns. 
In its 2019 Safety and Shipping review, Allianz says ULCVs “are of particular concern” …

The post ‘Bigger box ships mean bigger...

https://theloadstar.com/bigger-box-ships-mean-bigger-risks-for-everyone/

Timeline of ten largest ships lost in 2018

In its Shipping and Safety Review for 2019, Allianz provided an overview of the top ten largest ships lost in 2018. The report notes that Asia and Middle East accounted for most of the disasters. The largest ship lost in 2018 was the explosion and sinking of the Iranian tanker ‘Sanchi’ off Shanghai in the very first days of the year.

Highlights

  • Six of the largest vessels lost occurred in Asia and Middle East
  • Foundered was the cause of loss for five of the 10 largest vessels lost
  • Sanchi was the...

https://safety4sea.com/timeline-of-ten-largest-ships-lost-in-2018/

Infographics: Key figures of total shipping losses 2009-2018

In its annual Safety and Shipping Review released this week, Allianz provided a statistics review of shipping incidents by year, by vessel type, by cause and by region, for the last decade (2009-2018). The report revealed that the number of total shipping losses have fallen significantly to 46, representing the lowest total this century.

Total losses by year

Annual shipping losses have fallen by more than 65% over the past decade – from 132 in 2009 to 46 in 2018 and are now at their lowest level...

https://safety4sea.com/infographics-key-figures-of-total-shipping-losses-2009-2018/

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