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Allianz report indicates lowest ship losses recorded in 2023

# The 2024 Allianz Safety and Shipping Review reports there were 26 large ship losses in 2023, the industry’s lowest ever. Commercial Marine Risk Consulting global head, Rahul Khanna, notes 90-percent of global trade relies on ocean transport. Khanna highlights challenges ahead, including climate change, larger vessels, piracy in the Horn of Africa and Panama Canal drought disruptions. He stresses the shipping sector must address these issues while tackling decarbonisation.