Safety and Shipping Review 2018

Overview

Cyber, climate risks and human error threaten shipping’s safety progress, according to the new report by Allianz. The report includes insights such as:

  • 94 large ships lost worldwide in 2017, down 38% over 10 years. Bad weather involved in 1 in 4 losses.
  • Americas region accounts for 9% of global shipping losses in 2017; piracy down year-over year – Venezuela is top hot spot.
  • Human error is still major driver of incidents. Big data analysis of crew behavior may help.
  • Mega ship” fires, emissions rules, climate change and automation pose new threats.
  • Insurers expect more losses from cyber incidents and tech defects.
  • Fridays are most dangerous at sea: 175 of 1,129 total losses reported over the past decade have occurred on Fridays.
  • “New” Bermuda Triangle is identified.

An excellent read and comprehensive analysis.

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