2024 Mid-year hull report

Download the Cefor 2024 mid-year NoMIS report here.

Changing vessel values mirror the market conditions for different vessel segments. In 2024, supply/offshore vessels finally show an increase, reflecting increased demand following the stabilisation of the oil price at a higher level.

The claims frequency increased post-pandemic but does not yet exceed pre-pandemic levels. Total losses show a slight increase but still at a low level. 

The claim cost per vessel and the average claim cost have shown a recent upward trend. A late upward adjustement of 2022 claims and a steeper than average increase of 2023 and 2024 claims estimates indicate inflation impact, as illustrated by the accumulated quarter statistics.  

Machinery claims have shown an upward trend which may be related to a combination of several factors.