Posted on 06.01.23

Shadow fleets, fire risks among the biggest concerns for shipping industry: AGCS

Source: https://www.advisen.com/, June 1, 2023
By: Alex Zank

Shadow tanker fleets transporting Russian oil and an uptick in losses from highly flammable cargo are among the most significant risks facing the shipping industry today, according to Allianz Global Corporate & Specialty’s (AGCS) Safety & Shipping Review 2023 report.

The number of vessels deemed total losses dropped to 38 in 2022, down by more than a third from the previous year and reaching the lowest number AGCS has seen in the 12-year history of its shipping review. By comparison, 200-plus vessels were lost annually 30 years ago around the world. Read more.

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