While progress has recently been made in the area of risks such as fires, collisions and groundings, which are the main causes of ship losses, the maritime insurance company is having to face worrying potential large claims. This is highlighted by the new publication "Safety and Shipping Review 2025" of the insurance company Allianz Commercial explaining that the is facing an increasingly volatile and complex characterized by attacks against traffic detention of ships, sanctions, as well as the consequences of the of accidents involving damage to primary submarine cables. Furthermore - the document specifies - the domino effect of the increasing protectionism and customs duties threaten to reshape supply chains chain and disrupt established business relationships.

Regarding the good news, the report specifies that in the The maritime sector has made significant improvements in recent years in terms of safety and, if in the 90s the world fleet lost over 200 ships a year, this number has halved 10 years ago and has now reached an all-time low of 27 ships in 2024 compared to 35 the previous year.

"Total losses due to traditional causes may have been reduced in the - noted Commander Rahul Khanna, global head Marine Risk Consulting by Allianz Commercial - but we may be in a position in which this positive trend will potentially be offset by war and other political-related exhibitions. As an industry, we are in a better position when it comes to risks, but there is a renewed focus on geopolitical risks". "The importance of political risk and conflicts as a potential cause of naval losses - observed - is increasing with the increase in tensions geopolitical ».

The report explains that the ongoing trade conflict between United States and China and the growth of the shadow fleet used for Circumventing sanctions brings uncertainty and challenges. In particular, the China - the document recalls - was the main target protectionist measures of the US administration, with tariffs that reached 145%, before both countries agreed to reduce them for 90 days. The developments have had a impact on global maritime trade, as it is half of last month, about 18% of the sector subject to compared to 4% at the beginning of March, and having recorded a drastic drop in shipments immediately after last year's announcements April 2 of the new tariffs by President Donald Tramp who declared the day "Liberation Day".

The report also highlights that since the beginning of the war in Ukraine: shadow fleet size increased significantly and today it is believed that about 17% of the fleet of oil tankers belongs to the shadow fleet, with estimates that indicate that almost 600 oil tankers are currently in service They only trade Russian oil. The document emphasizes that ships of the shadow fleet have been involved in dozens of accidents in around the world, including fires, collisions and spills of petroleum. "Although the recent sanctions are making it more difficult for these ships to operate - explained Justus Heinrich, global product leader Marine Hull by Allianz Commercial - the fleet Shadow continues to pose a major security risk maritime and environmental issues, as many of them are probably old, poorly maintained and inadequately maintained ships Insured. In the event of an oil spill involving a shadow fleet tanker, clean-up costs could up to $1.6 billion, in all likelihood to be borne by taxpayers".

With regard to traditional risks, the report specifies that Fires and incorrect bills of lading remain a major concerns about large ships.

In 2024, seven total losses were reported related to all types of vessels, the same number as the previous year. The overall number of accidents increased year-on-year, reaching a ten-year high of 250 last year, again on for all types of ships. About 30% of these fires (69) has occurred on container ships, general cargo vessels, and Ro-ro ships. Over 100 total ship losses in the last decade were caused by fires. The document underlines that efforts to mitigate these risks, with regulatory changes and Technological advances to address the problem of policies of incorrect loading, one of the main causes of such fires, and specifies that this is essential because The electrification of the global economy poses additional challenges, given that the growing number of lithium-ion batteries and battery energy storage transported by ships.

"There is no doubt - commented Khanna - that the maritime transport is becoming more resilient to risks associated with large ships, even if we can in no way claim that they are under control. However, only 27 total losses during 2024 underline the positive trend. For contextualize - Khanna recalled - the world fleet counts over 100,000 ships of over 100 gross tons. However, uncertainty and multiple risks persist. The attacks and interference with GPS are on the rise. I cease on fire have fueled hopes, but the threat to security in the Red Sea and supply chain disruption likely will persist. Meanwhile, the ecological transition requires a lot of work. The next few years will be decisive and will determine the path of the sector and global trade".