Press Article: Stacking up the risks
25 March 2021
In a highly commoditised and competitive container freight market, the shipping of containers has increased exponentially through the decades – in 2019 the international liner shipping industry transported 226 million containers around the world with a cargo value of more than US$4 trillion.
As container ships have grown larger to accommodate this rapid commercial demand, more containers are being carried above deck than ever before. Container stack collapse incidents have recently been on the rise, putting vessels, their crews and the environment in danger. These incidents can result in significant financial losses to the container industry and their marine insurers, plus reputational loss for the carriers. Why have these incidents been on the rise and what can be done to prevent such incidents from occurring?
The full article is available in Maritime Risk International's March 21 issue, page 22-23, linked on the right, and on the MRI website here.