Total Shipping Losses Hit Record Lows Despite Armed Threats

In the past year, there have been fewer ships in the world than ever before. Allianz Commercial, the company's insurer, recorded twelve ship falls. 15 more ships have been severely damaged. The main hazards are fire, collisions and extreme weather. In the 1990s, on average, more than 200 ships were lost per year. In 2024, there were only twelve of about 100,000 larger ships travelling on the seven world's oceans. This is a new record low. The re…

The global trading and fishing fleet has lost so little ships last year as never before. This is reported by an insurance company. But geopolitical conflicts and shadow fleets are growing challenges.

In the past year, there has been as little decline as ever: Allianz Commercial recorded losses of about 100,000 larger vessels on the seven world oceans of the global trading and fishing fleet. That was eight total losses less than in the previous year.

Total shipping losses hit record lows despite armed threats

Rogue states and proxies could mimic the disruptive tactics of the Houthis, warns insurer Allianz

Last year, the number of ships worldwide has fallen as little as ever: Allianz Commercial, the company's insurer, recorded only twelve sinkings in the seven world's oceans among the 27 total losses of the world's trading and fishing fleet. This was eight total losses for a total of around 100,000 larger vessels compared to the previous year and a new record low. This continued a positive trend for decades.

The number of total losses of large ships decreased last year, the industrial insurer Allianz Commercial observed. There has also been progress in the fires on container ships and car transporters, the insurer writes in his annual report on shipping. For this, the trade conflict between the US and China increases the risks for the industry. The growing shadow fleet also worries the insurer. The burnt-out container ship "Solong [...]