The long-term safety improvements the maritime industry has made in recent years continue as the number of total losses and reported incidents have fallen year-on-year. Yet these gains are increasingly tested by systemic forces such as conflict-driven route disruption and the weaponization of strategic waterways, aging fleets, and rising repair costs.
An annual review of trends and developments in shipping losses and safety by Allianz Commercial shows that the maritime industry has made significant improvements when it comes to safety in recent years. Here is maritime safety in 2026 – by the numbers.
The latest edition of Allianz Commercial’s Safety and Shipping Review 2026 underlines that the number of shipping incidents around the world declined over the past year by around 16% (2,818 in 2025 compared to 3,353 in 2024). The East Mediterranean and Black Sea region saw the highest number (622), followed by the British Isles (619), which is also the location of the most incidents over the past decade.
Machinery damage or failure was the major cause of all shipping incidents globally during the past year, accounting for over half (1,505), followed by vessel collision (260) and fire / explosion (218), which remains a major concern on vessels.
Fires on large vessels, including container ships and car carriers, remain a major concern. There were more than 200 reported fire incidents on large vessels during 2025, down from 2024, but still represent the second highest total over the past decade.
The presence of lithium-ion batteries, typically found in electric cars and consumer goods transported in shipping containers, has been linked to several large fire claims handled by insurers.
The increasing size of vessels is also driving a trend for a rise in general average claims, where the shipowner and cargo interests share losses or expenditure to save the whole venture in an emergency. Such claims are typically complex and large.
The review’s latest analysis shows that there have been more than 900 total losses reported over the past decade (905 vessels over 100GT).
Between 2016 and the end of 2020, there were 555, an average of 111 per year. This number declined to 350 between 2021 and the end of 2025, an average of 70 (37% down on the previous five-year period), reflecting the positive effect of an increased focus on safety measures over time, such as regulation, improved ship design and technology and risk management advances. Forty-three (43) total losses have been reported to date for 2025, with more than 30 of these vessels over 500GT in size.
The South China, Indochina, Indonesia and the Philippines region is the main loss hotspot globally over the past year, and the past decade (255). A huge volume of imports and exports flow through the region, resulting in high levels of shipping traffic, which is reflected in the number of incidents.
“Insurance markets react quickly to crises, but the real challenge for companies is understanding how risks are interconnected. That’s why resilience and risk management are becoming just as important as insurance coverage. The shipping industry is facing turbulent times, not only from geopolitical instability, but also from traditional hull and machinery risks, where we see claim costs continue to rise, as well as from decarbonization and fleet renewal challenges. Our role as an insurer is to support our clients as both a risk carrier and a resilience partner to mitigate risks before they become a damaging loss event,” said Justus Heinrich, global product leader marine hull at Allianz Commercial.
Geopolitics Reshape Shipbuilding Investment Patterns
Current shipbuilding investment patterns reveal a clear strategic shift toward energy transport and resilience-driven fleet composition in response to geopolitical and market pressures, such as vulnerabilities in global energy supply chains exposed by the war in Ukraine and conflict in the Middle East.
To date, the largest share of investments is allocated to LNG / liquefied petroleum gas (LPG) vessels, accounting for 33% of total investments made so far in 2026, even though oil tankers already represent a significant portion of the global growing marine fleet.
General tankers represent the second-largest segment at 21%, reflecting sustained demand for oil and liquid bulk transport capacity.
Container vessels comprise 19% of investments, indicating ongoing commitment to maintaining and expanding containerized cargo capacity despite recent market volatility.
Meanwhile, cruise ships account for 14%, signalling continued confidence in the recovery and growth of the passenger shipping sector after a huge blow during the Covid-19 period.
