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IGP&I Annual Review 2017/18

Key Facts:

  • Since 2014 the average size of entered vessels has increased 19 % to just under 21,000 GT
  • Total mutual tonnage in the Group Clubs now exceeds 1.209 billion GT
  • The world fleet comprised just over 94,600 vessels totalling 1.322 million GT
  • West Africa continues to attract the highest level of piracy activity, with 42 % of incidents reported in 2018
  • Japanese owners now hold the largest share of the global order book with 18 % of total ordered tonnage
  • A further 7 States have ratified the Nairobi Wreck Convention bringing the total number of contracting states to 41
  • On May 8, 2018 the US announced its unilateral intention to withdraw from the JCPOA on Iran
  • Between 2008 and 2018 removal wreck accounted for 46 % of all claims from ground up
  • 21 of the world's top 25 reinsurers participate in the Group reinsurance programme

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