Loss Prevention Advice
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Ocean hull claims costs remained elevated in 2024–2025, with the claim cost per vessel 33% above both pre-pandemic and 2021 levels. The rise is driven by costly machinery failures, fires, inflation, and an ageing fleet. Inflation impact is illustrated by various indicators.
Key highlights:
From a silver tsunami to a claim’s tsunami?
- Machinery failure and fires drive increase in claim cost
- Extraordinary increase in claims above USD 10 million
- 3rd consecutive year with claims above USD 50 million
- Still a burning issue – Fires continue to dominate major losses
- Total losses: Increase for vessels with higher values
- Big increase in the cost of medium sized claims
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Recent changes to deterrence and enforcement measures in Taiwan aimed at preventing damage to critical undersea infrastructure.
Following several incidents of damage to subsea cables within its waters, the Taiwanese government has introduced legislative amendments designed to strengthen the protection of critical infrastructure and enhance deterrence.
The “Seven Subsea Cable Laws” amendments (covering the Telecommunications Management Act, Electricity Act, Natural Gas Enterprise Act, Water Supply Act, Meteorological Act, Commercial Port Act, and Ship Act) introduce the following key measures:
Increased criminal penalties
Intentional damage to subsea cables, energy infrastructure, or water pipelines is punishable by up to seven years’ imprisonment and fines of up to TWD 10million.
Introduction of negligence liability
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Recent cases have highlighted growing safety and operational concerns linked to the carriage of baled Refuse Derived Fuel (RDF), as increasing trade volumes continue to expose its variable—and at times hazardous—behaviour at sea, the Swedish Club has warned.
Refuse Derived Fuel (RDF) is produced from mixed municipal and commercial waste after sorting and removal of non‑combustible materials. The remaining fraction can contain a significant biodegradable component and often varies considerably in composition.
Moisture levels, storage duration and the condition of the bale wrapping influence how the cargo behaves during transport. Since RDF is not covered by an IMSBC schedule, the Master cannot rely on established reference criteria.
Safe carriage depends to a large extent on the accuracy and completeness of information provided by the shipper.
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On 12 April, a fire broke out aboard the bulk carrier Hyderabad while it was discharging cargo at the outer anchorage of Chittagong, Bangladesh.
As reported, the incident occurred at approximately 3:45 pm local time as two dockworker teams were unloading bagged cargo into lighter barges. Smoke was first observed in the forward mid-section of the hold near the access ladder.
Initial firefighting efforts by dockworkers were unsuccessful, but the vessel’s crew later brought the fire under control using portable dry chemical extinguishers, fire blankets, and water.
Cargo operations from the affected hold were temporarily suspended and later resumed around 5:15 pm once the fire had been contained.
Fortunately, no injuries or pollution have been reported and the vessel remains at Chittagong anchorage. The extent of any cargo damage has not yet been determined.
The Hyderabad had departed Singapore on 4 April and arrived in Chittagong on 10 April.