Global shipping contends with complex risks: Report

The global shipping industry is contending with mounting geopolitical and economic uncertainties, even as long-term maritime safety trends continue to improve, according to Allianz Commercial’s 2025 Safety and Shipping Review. The report identifies a growing list of operational challenges for shipowners and insurers, including regional conflicts, sanctions, and supply chain realignments. These are compounded by ongoing risks related to vessel safety, such as fires and mis-declared cargo, as well as structural issues tied to ageing fleets and shifting trade dynamics. While insurers report improved maritime safety, particularly in terms of total losses, exposure to traditional perils like collisions and groundings remains. The industry recorded 27 total losses of large vessels in 2024, a record low compared to over 200 per year in the 1990s and down from 35 in 2023, as per a report.

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