Bulkers continue to get safer despite fleet growth
Just one vessel was lost in the sector last year, not including those targeted by Houthi attacks in the Red Sea
The latest report from Intercargo shows vessel losses have consistently declined since the turn of the millennium, despite significant fleet growth
BULK carrier losses continue to fall despite fleet growth, the latest data from Intercargo shows.
The association of dry cargo shipowners publishes an annual report which documents losses in the segment and analyses them over a ten-year rolling period.
For 2015-2024, 20 bulkers were lost and 89 seafarers lost their lives. Just one bulker was lost in 2024, though this does not include the three vessels attacked in the Red Sea (Rubymar (IMO: 9138898), True Confidence (IMO: 9460784) and Tutor (IMO: 9942627) ).
This represents a continued downward trend of losses in a sector which has traditionally had a reputation for being the least safe in the industry. In the period between 1994-2003 an average of more than 10 bulkers were lost each year, but this has now reduced to an average of just two.
Intercargo chairman John Xylas said the sector “should take pride in the improved safety performance reflected in this year’s report”.
But he said the “unacceptable attacks on merchant ships in 2024 have reminded us that safety today extends beyond seamanship and regulatory compliance; it is fundamentally about protecting human life”.
“Seafarers must never be placed in harm’s way for simply doing their jobs”.
Grounding remains the biggest cause of vessel losses, responsible for 45% of cases. But cargo liquefaction is the biggest threat to life, accounting for 55 deaths over the most recent ten-year period, which is more than 60% of the total.
The improvements in safety come in a period when the bulk carrier fleet has grown significantly, with more than 2,000 additional bulkers on the water in 2024 compared to 2013. Intercargo said the gains can be attributed to better ship design, improved crew training and stronger regulatory framework.
But the association was keen to stress that “significant risks persist, particularly those related to improperly declared cargoes, navigational failures and delays in the submission of accident investigation reports by flag states”.
The average reporting time of casualties to the International Maritime Organization’s GISIS platform remains more than two years, which Intercargo said was “severely hindering the industry’s ability to learn and implement timely corrective actions”.
