Tag: Allianz

The shipping industry has been proactively working to reduce emissions, but there have been unexpected safety implications connected with the use of ultra-low sulfur fuel. Engine problems and power issues have been reported and such incidents could increase as regulations on sulfur content in fuel tighten further. According to Allianz Global Corporate & Specialty (AGCS) annual ”Safety and Shipping Review ” there has been an increase in machinery claims in relation to fuel.

Allianz Global Corporate & Specialty (AGCS) has issued annual ''Safety and Shipping Review '', a report which focuses on key developments in maritime safety and analyzes shipping losses (of over 100 gross tons) during the 12 months prior to December 31, 2015. According to the report, the maritime industry saw the number of total losses remain stable during 2015, declining slightly to 85; the lowest total for a decade and the second year in a row annual losses fell below 100.