Tag: Allianz

Allianz Commercial explains that enhancing shipyard capacity will be essential for facilitating the addition of thousands of environmentally friendly ships to the worldwide fleet over the next twenty-five years.

Allianz Commercial explains that in addition to the problems and disruptions caused by attacks against shipping in the Red Sea and the Middle East, together with drought in the Panama Canal, cargo theft is also on the rise, driven by current economic conditions.

Allianz Commercial has published its Safety and Shipping Review for 2024, which finds that the sector will have its work cut out to maintain this status quo in future. 

Volkswagen AG has to deal legal challenges following a catastrophic fire onboard incident involving the cargo ship Felicity Ace in 2022.

Cyber incidents such as ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies globally in 2024 (36% of responses), according to the Allianz Risk Barometer 2024.

Allianz will now publish a new series of bulletins to assist stakeholders with risk mitigation and loss prevention measures for emerging risks. A recent bulletin, issued in October, focuses on Lithium-ion batteries and their association hazards. 

Allianz Commercial’s "A turning point for offshore wind" report identifies emerging trends and a number of risk challenges facing the sector as it prepares for global growth.

Allianz highlights that fires on vessels remain one of the biggest safety issues for the shipping industry. As there are several incidents in recent years where Li-Ion batteries have been reported as contributing to fires on vessels, Allianz experts Capt. Rahul Khanna, Captain Randy Lund and Captain Anastasios Leonburg, share their considerations on how electric vessels may impact safety onboard.

Mukesh Chatter, CEO and co-founder of Alsym Energy explains that the maritime industry needs help to progress toward net-zero emissions. The industry is struggling partially due to inaction by governments but also because it’s waiting for new alternative fuel technologies to become available, including ammonia, methane, and hydrogen.

According to Allianz Safety Shipping Review 2023, cargo fires are a major safety issue. However, the industry does not seem to be taking fire safety seriously. Inadequate fire safety measures as detected by PSC inspections, misdeclared cargo and improper handling of new, dangerous materials are some of the most common reasons why cargo fires remain a challenge.