2021 Cefor June Hull trends report

Contents:

  • One year into the COVID-19: The changes since 2020 and how their impact on hull trends.
  • Claims frequency: Slight upward trend compared to 2020 but still below previous years' levels. 
  • Fires: Contrary to the last years' trend in the overall claims frequency, the frequency of fires does not show any downward trend into 2021 either. See special section 6.
  • Total loss frequency: continues to stay at a very low level.
  • Major losses: Five losses in the USD 10-30 million range were reported in the first half year of 2021. Three of these were fires which continue to be a concern also in 2021, particularly fires on container vessels.  
  • Claim cost per vessel: Some increase compared to 2020 but at moderate level.  
  • Vessel values: For the first time since 2008 vessel values increased on 2021 renewals by +1.1%. There are still strong variations between vessel segments, with container vessels showing a strong value increase on renewals, while the value of supply/offshore vessels continued to decrease also into 2021.        

Download the complete report as pdf here.