Container Losses At Sea Highlight Risks For Importers And Exporters

A sharp rise in containers lost at sea last year has highlighted the continuing risks faced by global supply chains, with the World Shipping Council recording 1,478 containers lost overboard — more than double the previous year’s total.

Although this still represents only a tiny fraction of the millions of containers transported worldwide, WSC says the increase was driven largely by a small number of significant incidents rather than a general deterioration in safety standards.

The report identifies several key factors behind container losses:

• Major vessel incidents – one single incident accounted for 43% of all losses.
• Severe weather – increasingly challenging and less predictable conditions, particularly across the North Atlantic and North Pacific.
• Stack collapse and cargo shift – rough seas can cause containers to move, collapse or be lost overboard.
• Fire-related incidents – fires remain an important contributor, with undeclared or incorrectly declared dangerous goods a continuing concern.
• Groundings and other vessel losses – serious maritime casualties can result in substantial container losses.

The North Atlantic is particularly relevant to European shippers, being a key corridor for transatlantic container services and an area highlighted for challenging operating conditions.

The figures also provide a useful reminder that cargo can be exposed to circumstances entirely outside of carrier’s control. Having suitable cargo insurance in place is therefore an essential part of protecting the value of goods while in transit.

If you are unsure whether you have cover in place that provides adequate protection, Westbound will be happy to help you review and can also provide a range of cargo insurance solutions for your shipments. Please do not hesitate to get in touch to discuss further.