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Number of shipping casualties declined last year

The number of shipping casualties declined four percent globally in 2017, which is the second-lowest level in a decade. A new report examines the major shipping accidents of last year and flags challenges for the industry ahead.

The dry bulk vessel Stellar Dausy was one of the largest casualties last year where almost all crew members perished. | Photo: Fleet Monitor

Last year, 94 vessels were added to the statistics on shipping casualties. This is fewer than the year before, where 98 vessels were involved in accidents. It also marks the second-lowest number of incidents over the past decade, shows a new report from Allianz Global Corporate & Speciality.

Looking over the past decade, things are progressing positively with a 38 percent decline. Contributing factors include improved vessel design, technology and the fact that the industry has developed better risk management practices. Lower activity within the shipping industry also played a part, the authors note.

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