Maritime safety in 2018: fewer accidents for a higher cost
In 2018, the losses of ships over 100 tons decreased by 53% compared to 2017, the year that recorded the least major losses since the beginning of the 21st century.
According to the report of Allianz Global Corporate & Specialty "Safety & Shipping Review 2019", only 46 losses of large ships were reported in 2018. The 10-year average is 104 losses. The total number of maritime accidents remains high but stable with 2 698 claims.
The analysis of 230 000 claims over a 5-year period (July 2013 – July 2018) highlights a total claim amount of 9.9 billion USD.
On the basis of a constant number of losses over the next few years, insurers expect a significant increase in the cost of marin loss due to the growing size of ships that enables larger and heavier loads.
According to recent estimates, a collision between a container carrier and a cruise liner may result in damages of nearly 4 billion USD.
