Allianz Safety and Shipping Annual Review 2017 (for year 2016)

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Allianz Global Corporate & Specialty (AGCS) has issued its fifth ”Safety and Shipping Review”, a report which focuses on key developments in maritime safety and analyzes shipping losses during the 12 months prior to December 31, 2016.

Report Highlights

  • 85 large ships lost worldwide in 2016, down 50% over a decade.
  • Top losses were reported in South China and Southeast Asia; East Mediterranean region is considered as the top incident hotspot, replacing the British Isles.
  • Cyber, autonomous shipping and piracy risks are the current major concerns for the industry as economic pressures challenge budgets.
  • Human error accounts for $1.6bn in liability losses over past five years. New navigational and monitoring technologies could help reduce impact, but over-reliance brings risks.

    This map shows the approximate locations of all 85 reported total losses during 2016 (click to enlarge).

Click on below image to download full report:

Source: Allianz Insurance

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