The Nordic Association of Marine Insurers (Cefor) recently released its 2024 hull and machinery coverage report, revealing a surge in claim costs per vessel post-pandemic. Major claims exceeding $50 million increased by 22% compared to previous years, attributed to the industry’s shift towards larger vessels. Machinery damage, fires, and collisions were highlighted as leading causes of losses.
Sea-Intelligence predicts Africa will be a crucial expansion point for shipping lines due to population growth and economic improvements. MSC plans to deploy 23,000+ TEU vessels on their Asia-WAF ‘Africa Express’ service, increasing nominal capacity significantly. This shift towards larger vessels in West Africa reflects the region’s economic potential and growing demand for maritime services.
Maritime catering company MCTC foresees challenges in attracting young talent by 2025 due to evolving lifestyles. CEO Christian Ioannou stresses the need to adapt to new generations’ preferences. With a focus on diverse job roles and lifestyle support, MCTC aims to meet the demands of seafarers with specific dietary needs like veganism and vegetarianism.
The 2024 edition of The Future of Maritime Safety Report by Inmarsat Maritime shows a 7.6% decrease in Global Maritime Distress and Safety System (GMDSS) distress calls in 2023 compared to the previous year. Despite this decline, the service was still triggered 788 times, highlighting ongoing challenges in maritime safety and the need for real improvements in the industry.
The shipping industry faces manageable impacts to cargo despite recent disruptions like the closure of the Port of Baltimore. However, Journal of Commerce Executive Editor Mark Szakonyi warns against complacency, as growing geopolitical threats may pose new challenges that cannot be easily overcome.
