1200 “Total Losses” In 10 Years

2191

Insurance companies claim that the sea engulfed a total of 1,271 ships between 2005-2014.

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The German insurance group Allianz has recorded the following figures in its annual report.

Overall incidents for the years 2005-2014

Total incidents24,545
Total losses1,271
Sunken ships603
Grounding252
Collision113

Most dangerous waters in the world

Incidents by region for the years 2005-2014

North Sea – Bay of Biscay4,381 incidents, 96 total losses
Eastern Mediterranean – Black Sea3,754 incidents, 163 total losses
Southern China and the Philippines1,932 incidents, and 253 total losses
Western Mediterranean888 incidents, 56 total losses

Incidents with relevance to vessel types

General cargo ships523
Fishing boats226
Bulk carriers94
  • 2014 recorded 75 total losses, the lowest level in the last 10 years.
  • An average of 127 ships lost per year.
  • 333 deaths by shipwreck in 2014(Korean ferry Sewol and sinking of three Indonesian ferries).
  • 19 incidents in the Great lakes in last eight years (six in 2013 alone).
  • Predominant causes for incidents identified: fires, engine and transmission damage, and collisions with submerged wrecks.
  • 36 container carriers were declared total losses in the ten-year period.

Justifications:

  • In 2005 global fleet expanded by 80% with ships in 19,000 TEU capacity.
  • Slow streaming have shrunk 45% when compared to 2010.
  • Arctic navigation is mostly electronic dominated.
  • 3 arctic incidents in 2005 has risen to 33 in 2014 (the majority because of damage to engines).
  • More dependence on electronic gadgets caused bad incidents.
  • The reason that is more apocalyptic, is of possible attacks by hacker pirates, especially on electronic maps, GPS and AIS, which have been identified as possibly vulnerable targets.

Source: The MediTelegraph