News / Safety management among carriers yet to catch up with ship sizes, say insurers

© Vladimir Serebryanskiy

Whether or not the increasing size of ships is reaching a point of diminishing returns, according to a new report by Allianz, which suggests the bigger-is-better mentality is only exacerbating safety issues.

Last year, demand for 7,000teu-or-less vessels reached such a fever pitch that owners were able to buy ships second-hand and repay their lenders in weeks through rates alone. But container lines have been haunted by safety issues related to ship size, Allianz says.

Allianz points to various problems, including practical ...