An update: Maritime Safety Trends and Solutions

A notable rise in maritime casualties during 2024—largely driven by machinery failures and an ageing global fleet—has emerged as a key trend in the latest analysis from Lloyd’s List Intelligence.

The number of maritime casualties increased by 15% in 2024, following a 7% rise in 2023, raising serious concerns for the global shipping industry. This is especially troubling given that the global fleet is expanding at a much slower pace.

This upward trend has been ongoing for several years. While incidents declined by 5% between 2014 and 2018, the number of casualties has risen every year since. Between 2018 and 2024, total incidents jumped 42%, while the global fleet grew by just 10% over the same period.

Trends in Casualties: Key Categories

Lloyd’s List Intelligence categorizes casualty data into:

  • Collisions (vessel-to-vessel)

  • Contacts with static objects (e.g., harbour walls)

  • Fire/explosion

  • Foundering (sinking/submersion)

  • Hull damage (cracks, holes, structural failures)

  • Machinery damage/failure (e.g., rudder loss, fouled propellers)

  • Piracy

  • War-related losses

  • Wrecking/stranding (groundings)

Machinery Failures Continue to Dominate

Historically, machinery damage or failure has accounted for the largest share of incidents. In 2014, it represented 38% of all casualties. By 2024, that figure had soared to 60%.

In fact, machinery failures were responsible for 80% of the increase in incidents in 2024 alone. While causes vary, the data points to a primary factor: the increasing age of the global fleet.

Fleet Age Statistics

  • In 2014, 36% of the fleet was over 25 years old; an additional 7% were 20–24 years old.

  • By 2024, these numbers rose to 44% (25+ years) and 9% (20–24 years), respectively.

Factors Behind the Ageing Fleet

Several industry dynamics are driving the retention of older vessels:

  • High freight rates and sustained demand for tonnage, especially during 2024, have encouraged shipowners to keep older ships in operation rather than scrapping them.

  • Regulatory uncertainty regarding new emissions and fuel efficiency rules from the IMO and EU has made owners reluctant to invest in newbuilds.

  • Limited shipyard capacity and high construction costs further discourage fleet renewal, pushing owners toward upgrades and retrofits instead.

This has led to a greater share of older ships in service—and an associated rise in casualty risk.

Age and Incident Rates in 2024

  • 52% of all incidents involved vessels aged 20 years or more.

  • 41% of incidents involved vessels over 25 years old.

  • In contrast, in 2014, only 41% of incidents involved vessels 20+ years, and 32% involved those over 25.

From 2023 to 2024, casualties rose by 358 incidents. Of these:

  • 285 were from vessels over 25 years old (80% of the increase).

  • 236 were due to machinery failures (83% of those 285).

For machinery-related incidents specifically:

  • In 2024, 45% came from vessels over 25 years old, and another 12% from 20–24 year-olds.

  • In 2014, those figures were 39% and 9%, respectively.

Other Age-Linked Casualty Types

Age is also a significant factor in hull damage, which increased by 7% in 2024 to 114 incidents. Nearly 46% of these involved vessels aged 20 years or older.

Mitigation Measures for the Ageing Fleet

The long-term solution is obvious: replacing ageing ships with modern, safer vessels. However, in the short term, shipowners can reduce risk by:

  • Increasing the frequency and quality of maintenance

  • Upgrading outdated machinery and onboard systems

  • Implementing safety retrofits and crew training to mitigate the risks associated with older vessels

Fire and Explosion Risks: A Growing Concern

Another area of urgent concern is the rise in fire/explosion incidents, which increased by 18% in 2024, and by 58% since 2014.

These incidents are more likely to result in serious injuries or fatalities, with 27% occurring in the passenger/ferry segment. Immediate steps should be taken to:

  • Enhance fire detection and suppression systems

  • Conduct frequent emergency drills

  • Improve fire safety protocols and crew preparedness

Positive Safety Trends

Despite the rising numbers in some categories, there are notable improvements in others:

Collision and Foundering Decline

While the total number of ‘accidental’ casualties (collisions, contacts, foundering, and strandings) rose slightly in 2024, the long-term trend is positive:

  • From 881 incidents in 2014 to 656 in 2024 — a 26% decline.

This progress is likely due to:

  • Better navigation and collision-avoidance technology

  • Improved weather and route planning

  • Stricter safety regulations and training

Piracy Incidents Down

Piracy-related casualties also fell in 2024, with a 48% decline between 2014 and 2024. This reflects:

  • Greater international cooperation

  • Wider use of Best Management Practices (BMP)

  • Improved regional maritime security

But War-Related Casualties Surge

One troubling development is the sharp rise in war-related losses:

  • From zero to three incidents per year (2014–2021)

  • To 51 incidents in 2024, driven by ongoing geopolitical conflicts

This highlights the growing vulnerability of maritime operations in conflict zones and the need for robust risk assessment and crisis planning.

Machinery Casualties by Vessel Segment

  • General cargo ships: 26% of all incidents, with a 13% rise in machinery failures

  • Passenger/ferry vessels: 48% rise in machinery issues, 29% increase in total casualties (reaching 672)

  • RoRo/PCTC: 69% overall incident growth, with machinery issues up 87%

  • Bulk carriers: 2% rise in total incidents, machinery failures down 13%

  • Container ships: 2% total incident growth, 10% drop in machinery failures, but fires and collisions increased

  • Tankers: 3% decline in total incidents, but machinery issues rose 11%

  • Gas carriers: No change in total incidents, but machinery failures dropped 35%

A Call to Action for Shipowners

While there are bright spots in the data, the overall direction of maritime safety is concerning. The statistics paint a clear picture: the ageing global fleet is driving a sustained rise in casualties, particularly through machinery failure.

It is essential that shipowners, operators, and regulators take immediate action to:

  • Modernize or phase out high-risk older vessels

  • Invest in advanced maintenance and monitoring technologies

  • Adopt new fuels and vessel designs with a safety-first mindset

  • Implement ongoing, comprehensive crew training

The maritime industry is undergoing profound transformation. With that comes opportunity—but also risk. Navigating this change safely will require proactive safety measures, technological innovation, and a shared commitment to protecting lives, assets, and the environment.

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