Total hull losses at an all time low: IUMI

For 2013 the frequency of total hull losses dropped to a record low of 0.13% in terms of numbers and 0.05% in terms of tonnage. The trend of reduced total losses over the last 15 years continued, despite a small rise in losses in 2012.

Weather tops the threat list for total losses, accounting for almost 50% of total losses between 2009 and 2013, followed by grounding at 25%.

For serious losses 35% followed incidents occurring to the machinery and in the engine room and almost 50% of claims were linked to navigation.

The MOL Comfort topped the claimes list for the cargo market, with an expected insured lost of $330m-$400m. The incident also raised concerns over the continued growth of container vessels, as the MOL Comfort's 4,382 containers is dwarfed by megaships on order and already in operation.