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Total Losses
The frequency of total losses increased marginally in 2012 compared to preceding years, now standing
at 0.18% of the world fleet in terms of numbers. The tonnage lost has however not increased. If the
trend of reduced total losses over the years has been reversed remains to be seen. Total losses for both
tankers and bulkers continued to be low relative to the world fleet, or below 0.1% of the fleet. Age
appears to be more of relevance for total losses of bulker carriers than for tankers. More than 50% of
the dry cargo capacity lost was from bulkers older than 25 years in the period 2008-2012.
Weather continues to be the major cause of the total losses representing 50% of the vessels lost
between 2008 and 2012. Grounding is the second most frequent cause accounting for 25% of the cases.
Major Serious Losses
The number of major incidents continues to fall even though the total losses have increased in 2012.
The major single cause of serious losses remains from incidents occurring to the machinery and in the
engine room. This category represents 35% of the cases. Navigation however groundings and collisions
combined stands for 50% of the claims in terms of numbers. Vessels older than 25 years generated
35% of the losses.
World Fleet
The world tanker fleet continued to grow in 2012 however at a reduced rate compared to preceding
years. Scrapping was relative modest and well outnumbered by the new building deliveries. In other
worlds, the growth will continue. The bulker fleet grew significantly both in numbers and more than 10%
in DWT. Deliveries remained at a record high both in numbers and DWT during 2012. The carrying
capacity will continue to grow as scrapping is low in relative terms however increasing. The container
sectors growth abated as scrapping increased in pace, almost reaching the point of new building
deliveries in terms of numbers. Capacity will however continue to increase as units become larger.