Shipping’s ageing fleet and mounting crew crisis heighten systemic risks for insurers
Ageing vessels are disproportionately involved in maritime accidents, oil spills and costly breakdowns, while a staffing shortage threatens to leave ships understaffed and with unexperienced personnel at the helm
Maritime industry continues to push the global fleet to its limit, playing a dangerous game of Russian roulette with crew, oceans, cargo – and insurers’ portfolios