Safety continuing to improve

Captain Rahul Khanna, of Allianz Global Corporate & Specialty, looks at shipping losses in 2012

Despite 2012 seeing the reported loss of 106 ships worldwide, losses were still down by 27% overall in line with the long-term downward trend. However, this was still an increase of 15 vessels on the previous year and clearly issues of maritime safety remain as highlighted by the high-profile Costa Concordia incident and the sinking of MV Rabaul Queen.