Decline in total ship losses

August 01, 2023
ship losses

In terms of safety, the marine transport business continues its positive long-term trend, with 38 total losses reported in 2022, compared with 59 in 2021, 65 in 2020 and 109 in 2013.

The annual number of claims has fallen by 65% since 2013, which reflects the focus on safety measures, such as tighter regulations, improved ship design and risk management methods.

By 2022, almost 25% of ship losses involved cargo ships (10). Over the 2013-2022 decade, bottom losses (53%), groundings (17%) and fires/explosions (14%) are the three main causes of total loss. These three events account for 85% of the 807 claims reported over the period.

Total ship losses: 2013-2022

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 2013201420152016201720182019202020212022Total
Bottom losses69496648573332253520434
Groundings20181922151891213137
Fires/explosions157913812211498116
Machinery breakdowns and failures1521093347246
Collisions227213333430
Hull damage152452111123
Collisions (e.g. harbor wall)01000210004
Disappearances00020010003
Miscellaneous risks120100163014
Total10989105102957372655938807

Source : AGCS, Safety and shipping review 2023


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