Record-low Maritime Vessel Mishaps Witnessed In Historical Context - Allianz Report - Unprecedentedly Few Vessels Sunk: A Rare Occurrence
Record-Low Ship Losses Worldwide, but Risks Remain
In a significant downturn from previous years, there were only 12 total ship losses worldwide in 2021, as reported by Allianz Commercial, a corporate insurer. This marks a new record low, continuing a positive trend that has been in motion for decades. The global merchant and fishing fleet saw 27 total losses during the same period. In stark contrast, the average number of ship losses in the 1990s was well over 200 per year, according to Allianz Commercial.
However, it's essential to note that the number of ship incidents worldwide increased by 10% to 3,310. Nearly 800 of these incidents took place around the British Isles.
The most common causes of these 12 total losses were identified as fires, collisions, and storms. Ten of the total 27 lost ships were fishing vessels instead of cargo ships.
Although the number of ship losses is at an all-time low, shipping continues to present significant risks. Growing geopolitical tensions increase these risks, according to Allianz Commercial. A major concern is the "shadow fleet," which nations such as Russia and North Korea use to bypass international sanctions. These vessels, operated under shell companies, conduct business without standard international ship insurance and are often poorly maintained, giving rise to concerns about safety and the environment.
It is estimated that around 600 tankers are part of this shadow fleet and are utilized in Russia's oil exports. Should one of these tankers cause an oil spill, the cost of cleaning up the ocean could reach billions, as suggested by Allianz Commercial.
While efforts to regulate these vessels are underway in countries like Estonia, monitoring and enforcement remain challenging due to the lack of international cooperation and clear ownership. The use of these shadow fleets not only poses environmental and safety risks but also undermines international economic sanctions and regulatory norms.
- To mitigate the potential risks associated with the shadow fleet, it is crucial for the community policy to address the lack of international ship insurance, poor maintenance, and environmental concerns.
- As environmental concerns continue to rise, it is essential to incorporate environmental-science research into the formulation of future employment policies in the shipping industry, to ensure safer and more environmentally friendly practices.
