A new report by the International Association of Dry Cargo Shipowners INTERCARGO shows that the dry bulk shipping industry has seen safety improvements for the past decade.

The report highlights a significant reduction in ship losses and deaths in the sector despite a growth of 20% in tonnage in the last ten year.

The annual Bulk Carrier Casualty Report from INTERCARGO tracks the impact of safety initiatives across the global industry by recording yearly data on vessel losses and deaths.

According to the latest report, the fleet of bulk carrier vessels increased by 20% between the years 2014 and 2023, reaching 12,200 vessels. These vessels now account for more than 40% of the global tonnage, and transport approximately 55% of the global transport work.

The report’s conclusions are encouraging. Despite the growing fleet, there has been a noticeable decrease in vessel losses. Between 2014 and 2023 21 bulk carriers with a deadweight of more than 10,000 tonnes were reported as lost, resulting in the tragic deaths of 89 seafarers. In 2023, there was only one total loss and no deaths of a dry bulk ship. The vessel that sank was the Chinese M/V Yong Xing56 which flooded in Russia after a hull rupture by ice.

Despite improvements, cargo liquefaction, and other moisture-related cargo failures continue to be a concern. These contributed to 55 deaths or 61.8% total of the lives lost over the last decade. The primary cause of ship loss was identified as groundings. All stakeholders must be more aware of safety and provide accurate information about cargo characteristics to reduce these incidents.

Major contributors to improved safety in the maritime sector include the continuous safety improvements made by ship operators, the improved international regulatory framework and the adoption of modern technology for ship design. INTERCARGO has played a major role in the development of this enhanced legislation as a Non-Governmental Organization (NGO) within the International Maritime Organization.

“We have come a very long way since those ‘dark’ 1980s days, when we suffered many tragic losses in lives and vessels,” said Dimitris Fafalios. He noted that safety performance has steadily improved. He called the latest statistics “impressive” when he considered the dramatic increase in bulk carriers over this period.

“There is no room for complacency.” The shipping industry should pay close attention to these contributing causes, as any loss of life is tragic. INTERCARGO believes that the dry bulk industry should be proud of their achievements and recognize that improved safety is largely due to continuous crew and shore staff training, improved ship designs, new technology, and stronger regulatory compliance,” he stated.