Large shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released…
More crew members were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, the International Chamber of Commerce’s International Maritime Bureau (IMB) reported on Tuesday. In its…