There were 38 large ships totally lost in 2022, a decline from 59 in 2021, according to latest data from Allianz. Safety & Shipping Review 2023 reports improvements in maritime safety have been significant over the past 10 years.
The region encompassing South China, Indochina, Indonesia and the Philippines had the largest number of shipping losses in 2022 with a total of 10. The region has ranked first in shipping losses over the past decade.