(www.MaritimeCyprus.com) As the global maritime industry navigates a decade of transformation, marked by decarbonization, digitalization, and geopolitical instability, a pressing concern is quietly compounding beneath the surface: the ageing fleet. The 2024 DNV Maritime Safety Trends report delivers a stark warning—older vessels are driving a surge in incidents, with machinery failures at the helm.
The report shows a 42% increase in maritime casualty incidents between 2018 and 2024, a trend which the classification society attributes to an ageing global fleet.
The study, which looked at data from Lloyd’s List Intelligence on recorded casualty incidents between 2014 and 2024, reveals that more than half (52%) of all safety incidents last year involved ships 20 years or older, compared to 43% ten years earlier.
This reflects the greater share, in the global fleet, of older vessels, as high freight rates have led many shipowners to delay the scrapping of their older tonnage.
Over the past decade, machinery damage/failure has climbed to represent 60% of all maritime incidents, with older vessels - those 20 years or more - responsible for over half of all casualties. Economic incentives, such as high freight rates and uncertainty surrounding fuel regulations, have led shipowners to delay scrapping vessels, exacerbating safety risks.
The data speaks volumes. In 2024 alone, maritime casualties rose 15%, a continuation of a troubling trend. The ageing fleet is particularly to blame, with vessels over 25 years old contributing to 80% of the increase in incidents year-on-year. Fire and explosion incidents, especially among passenger and RoRo segments, are rising at an alarming rate, underscoring vulnerabilities in older ship designs.
While regulatory bodies like the IMO are adapting with new safety frameworks and alternative fuel guidelines, the industry must act with urgency. Incremental fixes like regular maintenance and retrofits are not enough. Investment in fleet renewal and proactive safety measures, including advanced fire suppression, cybersecurity protocols, and crew training, are paramount.
There is also a critical need for transparency, particularly in rooting out the "dark fleet" of non-compliant vessels operating beyond the radar of safety oversight. The transition to cleaner, smarter shipping must not sacrifice human lives or environmental integrity.
Ultimately, maritime safety cannot be treated as an afterthought. It must be the foundation upon which innovation stands. The time to prioritize proactive safety governance is now - before the costs grow insurmountable.
For further details and statistics, click below to download the full DNV report:
Source: DNV
