Risks on the world’s oceans: Allianz: Loss of ships than ever before

Last year, more ships have dropped worldwide than ever: the corporate insurer Allianz Commercial only recorded 12 shipping under the world on the seven world oceans below the 27 total loss of global merchant and fishing fleet. With a total of around 100,000 larger ships, that was eight total losses less than in the previous year and a new record low. This continued a positive trend that has been persistent for decades. According to Allianz Commercial, an average of over 200 ships per year were lost in the 1990s. However, the number of ship accidents worldwide has risen by ten percent to 3,310, almost 800 of them in the waters around the British islands.

The main dangers: fire, collision and extreme weather

In addition to the downfall of a ship, “total loss” also describes the most serious damage that exceeds the value of the ship and/or load. According to Allianz, 10 of the 27 lost ships were not freighters, but fishing ships. According to the report, the main causes of shipping losses include fires, collisions and storms. Allianz Commercial is a daughter of the Munich Dax Group. The company publishes an analysis of shipping risks every year.

Shadow fleet a threat to security and environment

But shipping has not become safe: According to the insurer, the growing geopolitical tensions mean growing risks. The “Shadow Fleet”, with the help of their ships, plays a major role, for example Russia or North Korea.

These are mailbox companies registered ships that are on the oceans without the true ownership of the true ownership relationships without the internationally common ship insurance. For this purpose, around 600 tankers are counted, which export Russian oil. According to Allianz Commercial, these ships are usually old and poorly maintained. If one of these tankers causes an oil spill, the insurer’s cleaning could be cleaned by the insurer unknown costs in billions in billions.