2015 Was Safest Year for Shipping in the Last Decade: Allianz

March 21, 2016

The shipping industry saw its safest year in a decade in 2015, according to a new report from Allianz Global Corporate & Specialty (AGCS), with 85 total losses reported worldwide last year, down from 88 in 2014 and well below the 10-year average of 123.

Total losses are down 45 percent since 2006, a change AGCS said is driven by an increasingly robust safety environment and self-regulation.

Cargo and fishing vessels accounted for more than 60 percent of ships lost globally, and the most common cause of total losses was foundering (sinking), responsible for almost 75 percent of losses, AGCS said in the report.

In all, there were 2,687 reported shipping incidents in 2015, down 4 percent from 2014.

Among the top risks for shipping in 2015:

For a more detailed look at the shipping industry in 2015, see the full report by AGCS: Safety and Shipping Review 2016.

Source: Allianz Global Corporate & Specialty