Shipowners And Operators Urged to Address Evolving Safety Risks

 

A clear uptick in casualties in 2024, driven by machinery damage/failure and an aging fleet, stands out in the latest analysis of Lloyd’s List Intelligence casualty data.

The number of maritime casualties rose by 15% in 2024. Between 2018 and 2024, the number of incidents increased by 42%, while the number of vessels in the global fleet increased by 10% over the same period. This represents a concerning development for the maritime industry, partic­ularly with the global fleet growing at a considerably slower rate.

Continuous increase in machinery failures boosts casualty rate

Machinery damage/failure has traditionally accounted for the largest portion of incidents. However, its share has increased significantly over the course of the past decade. In 2014, this accounted for 38% of all incidents but rose to 60% by 2024.

The reasons for these kinds of casualties are wide and varied, but top of the list is the aging global fleet. In 2014, 36% of the global fleet was 25 years or older, with a further 7% in the 20-24 years age category. In 2024, 44% of the global fleet was over 25 years old, with 9% in the 20-24 years age category.

Factors driving the aging fleet and delayed vessel scrapping

A range of different factors are contributing to the aging fleet. In recent years, there has been high demand for ton­nage, with this translating into sky-high freight rates, partic­ularly in 2024. Many shipowners are delaying the scrapping of vessels that would normally be decommissioned, opting to profit from these assets instead.

Other factors such as new regulations from the IMO and EU on emissions and fuel efficiency, have also made shipowners hesitant to invest in new­builds. Limited space in shipyards and high cost of newbuilding is also pushing shipowners to focus on extending the lifecycle of existing assets rather than replacing them.

Either way, the aging global fleet is clearly having an impact on casualty statistics.

In 2024, 52% of all incidents were attributable to vessels 20 years of age or older, with 41% from vessels in the 25+ age category. In contrast, 41% of incidents in 2014 came from vessels over 20 years old, with 32% coming from the 25+ age category. For machinery damage/failures, age is an even bigger fac­tor. In 2024, a total of 45% of these kinds came from vessels over 25 years of age, with a further 12% in the 20-24 age category. In 2014, the corresponding figures were 39% and 9%, respectively.

The aging fleet is also a significant factor in the number of hull damages, which increased by 7% (114 inci­dents) in 2024. Some 46% of hull damages were attributable to vessels which were 20 years or older.

While the main solution will be a replace­ment of the aging vessels, some other short-term fixes can be ap­plied. Regular maintenance of vessels and upgrades to equipment can reduce the risk of casualties, helping to prolong vessel lifespans in a safer way.

Urgent need for better fire safety

Of equal concern are the numbers of fire/explosions, which increased by 18% in 2024, and by 58% since 2014, with a disproportionately high amount (27%) coming from the passenger/ferry segment. As fire and explosions tend to have higher rates of injuries and fatalities, enhanced fire safety measures and emergency response training should be implemented on all vessels where this is deemed to be lacking.

Decline in collision, foundering, and piracy incidents but sharp increase in war losses

Putting these trends aside, the safety data does have some more promising stories to tell. Casualties involving collisions with another vessel, contact with a static object, foundering, and wrecked/stranded have decreased by 26% from 2014 – 2024.

This is likely attributable to technological ad­vancements in navigation systems, digital safety, route and weather planning, improved vessel design, stricter safety regulations, and data-driven risk management.

Casualties involving piracy also fell over the last decade, with the overall trend showing a 48% decline. This is largely the result of sustained international cooperation which has led to improved maritime security practices, regional stabilization efforts, and the adoption of best management practices by shipping companies.

In contrast, however, war loss incidents increased with yearly numbers ranging from zero to three until 2021 to 51 in 2024 due to ongoing political conflicts. This underscores the impact of geopolitical instability on maritime safety, highlighting the vulnerability of maritime operations in conflict zones.

The rise in machinery-related casualties cuts across most vessel segments:

•  General cargo ships accounted for 26% of all incidents, with a 13% increase in machinery failures in 2024.
•  Passenger/ferry vessels saw a 48% jump in machinery failures and a 29% rise in total casualties.
•  RoRo/PCTC segment incidents grew 69%, mainly due to an 87% spike in machinery issues.
•  Bulk carriers saw modest incident growth (2% in 2024), though machinery issues fell 13%, countered by increased fire, hull, and piracy incidents.
•  Container ships had only a 2% increase in incidents, with a 10% drop in machinery failures, though fires and collisions rose.
•  Tankers were the only segment with a 3% decline in total incidents, despite an 11% rise in machinery issues.
•  Gas carriers maintained the same number of incidents as 2023, with a 35% drop in machinery failures.

A call to decision-makers

While there are some glimmers of positivity, the overall trend in maritime safety is unmistakably negative. Shipowners and operators are urged to take action to mitigate todays and future risks.

A steadily aging fleet is clearly driving an increase in the number of incidents, and it is incumbent on shipowners to mitigate this issue through better maintenance or other means. The adoption of new technologies and fuels is likely to be a growing factor in the years ahead and should be addressed from an early stage through the implementation of safe vessel designs, profound technical barriers, best practices and comprehensive, continuous training for all crew members.

This message is sponsored by DNV. Click here to download the full report, MARITIME SAFETY TRENDS 2014–2024: Preparing for Future Risks.