The global maritime sector is entering an era of heightened geopolitical and regulatory uncertainty that threatens to offset long-term safety gains, according to Allianz Commercial’s 2025 Safety and Shipping Review. While vessel
The global maritime sector is entering an era of heightened geopolitical and regulatory uncertainty that threatens to offset long-term safety gains, according to Allianz Commercial’s 2025 Safety and Shipping Review. While vessel losses have reached a record low, the industry faces a volatile landscape shaped by trade conflict, increased sanctions, shadow fleets, and ongoing security threats in key shipping lanes.
The review underscores how fast-evolving global tensions — from attacks on commercial vessels and sabotage of subsea infrastructure to widespread protectionist policies — are reshaping the risk profile for shipowners, charterers, and underwriters alike. This shift comes as the sector continues to grapple with the aftershocks of COVID-19, the ongoing energy transition, and an increase in major claims due to fires, collisions, and groundings.
“We’ve made real progress on traditional risks, but we’re entering a new phase where political risk, sanctions, and conflict are playing a much bigger role in shaping marine exposures,” said Captain Rahul Khanna, Global Head of Marine Risk Consulting at Allianz Commercial.
Record Low in Vessel Losses
Despite the challenging landscape, the review highlights a significant safety milestone: just 27 large ships (100GT+) were lost globally in 2024, down from 35 in 2023 and more
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