Asia-Pacific’s waters remained the top shipping loss region, accounting for 45% of losses globally in 2018, according to a report by global insurer Allianz.
The annual Allianz Global Corporate & Specialty SE's (AGCS) Safety & Shipping Review analyses reported shipping losses over 100 gross tons (GT). According to the study, there were 21 total losses of vessels reported in the region for 2018, down from 46 losses in 2017. This was due to a significant decline in activity in the global loss hotspot, Southeast Asia, as well as fewer weather-related losses due to relatively milder hurricane and typhoon seasons.
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