Major Shipping Losses in 2017 at the Second Lowest in a Decade, Corporate & Markets News & Top Stories

Large ship losses have declined by 38% worldwide over the past decade, with the downward trend continuing last year, according to Allianz Global Corporate and Specialty (GATS), Security and Shipping 2018.

were reported last year across the maritime world, down 4 percent from year to year. According to the report, last year's losses were the second lowest in ten years after 2014.

Bad weather contributed to the loss of more than 20 vessels, according to the annual badysis, which badyzes declared shipping losses greater than 100 tonnes. "Overall, the decline in the frequency and severity of total losses over the past year confirms the positive trend of the past decade. Claims have been relatively benign, reflecting improved ship design and positive effects. Risk Management and Regulatory Policy, "said Mr. Baptiste Ossena, Global Leader in Hull and Marine Products for AGCS

GATS is the Commercial Insurance Group German Allianz, one of the largest financial services companies in the world.

The maritime region of Indonesia, Indochina, Indonesia and the Philippines increased by 25% over the past year and remains the first region in the world for the major marine accidents of the last decade.

The main loss factors are the weather – typhoon Hato and typhoon Damrey caused more d e six losses

The Eastern Mediterranean and Black Sea region the second major loss point, followed by the British Isles.

There was also an annual 29 percent increase in reported shipping incidents in the waters of the Arctic Circle, according to the GATS badysis

.

The South China Sea is a key transit route for East-West trade from China, South Korea and Japan and accounts for one-third of world shipping trade

. This has resulted in a growing military presence in the South China Sea, with the United States and China conducting naval exercises. "Territorial conflicts and territorial disputes can have far-reaching longer-term implications and threaten the very freedom of the seas and navigation in Southeast Asia, with far-reaching implications." Andrew Kinsley, senior management consultant maritime risks at AGCS

"Increasing concentration of trade and political tensions creates an explosive situation in the region that could create security problems."

While piracy has reached a record It represents a threat in waters regional and accounts for three quarters of all incidents of piracy in the world.

Southeast Asia recorded 76 hacks last year, up 11% from 2016. L & # 39; Indonesia continues to be The number of attacks in the Philippines has more than doubled from 10 in 2016 to 22, according to the International Maritime Bureau.