7/5/2023 0 Comments Download shipping company![]() ![]() Fire/explosion ranked as the second top cause of loss (8). ![]() Contributing factors included bad weather, poor visibility, flooding and machinery breakdown. Foundered (sunk/submerged) was the main cause of total loss across all vessel types (20), accounting for over 50%. Together, fishing (6) and passenger (5) vessels also accounted for a quarter of the total. Three regions, South China, Indochina, Indonesia and the Philippines, East Mediterranean and Black Sea (118), and Japan, Korea and North China (76) account for almost 50% of global loss activity over this time.Īround a quarter of vessels lost in 2022 were cargo (10). The past 10 years have seen 807 total losses reported. The Arabian Gulf, British Isles, and West Mediterranean waters were the second top loss locations (3). It accounted for one in four losses in 2022 (10), driven by factors such as high levels of trade, congested ports, older fleets and extreme weather. South China, Indochina, Indonesia and the Philippines is the global loss hotspot, both over the past year and decade (204 total losses). Annual shipping losses have declined by 65% over the past decade (109 total losses in 2013) reflecting the positive effect of an increased focus on safety measures over time, such as regulation, improved ship design and technology and risk management advances. The review shows 38 total losses of vessels (over 100 gross tonnage ) during 2022, compared with 59 a year earlier, down by 36%. It has now been six years since a triple‑digit total loss year. At the end of 2022 fewer than 40 losses were reported. Thirty years ago, the global fleet was losing 200+ vessels a year. Improvements have been significant over the past decade in particular. Shipping transports between 80% to 90% of world trade onboard different vessels so maritime safety is critical. ![]()
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