In this video the Allianz Global Corporate & Specialty examines the risk impact of commercial shipping activity in Arctic waters. Namely, Captain Rahul Khanna says that the dangers that are risen while sailing in the Arctic can be a reason for companies not to choose this route.
Captain Khanna explained that on the major risks with sailing in the Arctic is what happens in case of an incident. If a ship experiences problems in this area, rescue operations would be very difficult to take place.
Today there is lack of skilled people to operate in these regions, Mr. Khanna added, and if an accident takes place, it could lead to a major loss as it would require a prolonged salvage operation.
In addition, the number of accidents in the wider Arctic circle reached a ten-year high. This highlights the dangers of navigating in these waters, as well as the lack of skilled personnel for such an operation.
