Shipping losses on downward trend

shipping losses continued their downward trend with 94 losses reported worldwide in 2013, coming in below 100 for only the second time in 12 years, according to Allianz Global Corporate & Specialty’s (AGCS) second annual Safety and Shipping Review 2014, analysing reported shipping losses of more than 100 gross tons. Losses declined by 20% from 2012 when there were 117 reported losses. The 2013 accident year also represents a significant improvement on the previous 10-year loss average with total worldwide shipping losses declining 45% since 2003.