The global maritime sector has become significantly safer over the past decade, despite increasing geopolitical tensions and the activities of poorly maintained 'shadow fleets.'

According to data from global insurance company Allianz, there has been a remarkable decrease in ship losses, while war-related risks and fire incidents remain among the biggest threats facing the industry.

According to Allianz's report, the total number of losses for vessels over 100 gross tons was recorded at 127 in 2016, while this figure fell to 43 by 2025. Thus, the frequency of ship losses, which occurred approximately every three days, has decreased to less than once a week.

The report attributes this improvement to the industry's increased focus on safety, strengthened regulations, advancements in ship designs, the widespread adoption of digital navigation systems, and progress in risk management practices.

On the other hand, fires and explosions continue to pose a serious problem for the maritime sector. Last year, 218 fire and explosion incidents were recorded worldwide. This figure made 2025 the second worst year for fires in the last decade.

Allianz predicts that the impact of war risks and geopolitical tensions on maritime transportation will further increase in the coming period. It is noted that the Russia-Ukraine war and tensions between the U.S., Israel, and Iran have led to significant disruptions in maritime trade, while conflicts in the Middle East could lead to high compensation claims for marine insurers by 2026.

The report also emphasizes that fragmented trade routes, volatile fuel prices, new eco-friendly fuel types, increasing regulatory obligations, and disruptions related to climate change are pushing the sector towards a more complex and unpredictable structure.

Allianz highlights that all these developments are not temporary but rather structural changes, stating that the maritime sector has entered a new era that requires more capital, is more complex, and carries higher risks.

Source: SeaNews Türkiye