Given that 90% of international trade is transported across oceans, maritime safety is critical, and the shipping industry has made significant improvements in recent years.
Around the world, the number of reported shipping incidents on vessels over 100GT 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 of reported incidents (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. Machinery damage being the main cause of shipping incidents is significant as machinery claims inflation has not yet returned to pre-Covid-19 levels, with repair costs having continued to rise, a trend which could be exacerbated by the recent conflict in the Middle East.
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 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.
Despite the long-term improvement in the industry’s safety record, loss spikes have continued to occur; while looking forward, the reshaping of sector forces is set to persist. The 2025 Safety and Shipping Review said that “the relevance of political risk and conflict as a potential cause of maritime loss is increasing with heightened geopolitical tensions”. Today, the industry appears to be more risk-exposed in this area than at any point in recent decades.
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