Sea freight carriers have lost so
little cargo in ten years. But that is no cause for celebration. According to
Allianz Global Corporate & Specialty (AGCS), there are risks lurking
as ships continue to grow in size.
The number of cargo losses fell by
2014 by 32 per cent compared with the previous year. The report ‘Safety and Shipping Review’
2015,
cargo losses exceeding 100 tonnes are compared. The decline is said to be
be explained by the International Maritime Organisation’s focus on
the stability of the cargo on board the vessel. An unstable cargo can, in poor
weather conditions.
See also: The race to build the world’s largest freight container
Causes of cargo loss
The main cause of cargo loss is the sinking of ships. In
2014, involving 49 ships. The second most common cause was ships running aground
ships (13), followed by fires/explosions on ships (4 cases).
Ports and ships unprepared for risks
With container ships becoming ever larger, AGCS fears a
increase in the volume of lost cargo. “The larger the ship, the greater
the cargo lost if the ship runs aground or sinks,” the report states.
Due to their draught, large ships cannot enter all ports. Those ports that
can accommodate these vessels are therefore also more prone to accidents involving
cargo. Consequently, a review of
risk management is required, as the current risk management in many
parties is based on vessels carrying much smaller cargoes. “The accident
involving the Costa Concordia showed that ports are not prepared for accidents
involving ships of this size,” according to Allianz.
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