Machinery damage

Ship Total Losses Fell in 2018

  • Allianz reports that in 2018, 46 total losses of vessels were reported worldwide. It was down from 98 losses 12 months earlier, with a significant decline in global activity.
  • The number of reported shipping incidents overall (2,698 in 2018) shows a little decline – less than 1% year-on-year.
  • Machinery damage is one of the most expensive causes of marine insurance claims, costing $1 billion over the past five years.
  • South China, Indochina, Indonesia, and the Philippines maritime region remains...

http://mfame.guru/ship-total-losses-fell-in-2018/

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/

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