The global maritime industry recorded its lowest-ever vessel losses in 2024, with only 27 large ships lost—a 20% decrease from the previous year, according to Allianz Commercial’s annual Safety and Shipping Review. This milestone reflects major safety improvements compared to the 1990s, but the industry continues to face rising challenges, including cyber-attacks, geopolitical tensions, increased vessel detentions, sanctions, and a growing shadow fleet. Fire incidents also reached a decade high, emphasizing the need for ongoing vigilance as the sector navigates a complex and evolving risk landscape.

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