This report identifies loss trends and highlights coronavirus, climate, security and technology-related challenges for the maritime sector.

Key findings:

1. The South China, Indochina, Indonesia and Philippines maritime region remains the main loss hotspot, accounting for almost 30% of losses over the past year with 12 vessels.
2. While total losses declined significantly over the past year, the number of reported shipping casualties or incidents actually increased by 5% to 2,815.
3. Political risk has become a pressing topic for the shipping industry, with trade wars, regional conflicts, civil unrest and piracy all impacting.
4. Vessels are becoming more connected to shore-based systems, meaning the cyber threat is ever-evolving – from crippling ports and terminals to spoofing attacks on ships.