DRY BULK SAFETY:
Decades of progress — and new risks on the horizon
INTRODUCTION
The dry bulk industry has experienced a clear and remarkable reduction in fatal accidents over the past four decades. Between 1980 and 1999, 107 fatal accidents resulted in 1,128 fatalities. Since 2000, that figure has fallen to 76 fatal accidents and 455 fatalities.
This improvement reflects sustained efforts across the industry. Stronger regulations and firmer enforcement, advances in crew training, improved ship design, and ever-more robust classification rules have all played a decisive role. More recently, rapid developments in digitalization, onboard monitoring, and communication systems will all help further enhance safety at sea as well as ship and fleet performance.
However, new risks are emerging. Increasing geopolitical instability has exposed seafarers to heightened war-related threats. At the same time, the rapid uptake of alternative fuels, combined with limited operational experience and evolving training frameworks, introduces fresh technical and human challenges. These developments form new clouds on the safety horizon.
MEASURING FATALITIES
The decline in fatal incidents must be assessed against the backdrop of substantial fleet growth and increased transport volumes. Within the fleet segment considered in this analysis — bulk carriers of 20,000 dwt and above — shipyears increased markedly over the period under review. In 2000, there were just over 4,600 bulk carriers of 20,000 DWT or more in operation. By the end of 2024, the fleet exceeded 12,000 vessels. Meanwhile, the volumes transported by these vessels have also grown significantly over the same period.
The industry has also operated through prolonged periods of depressed earnings, particularly during the 2010s. Financial stress can test operational resilience and, in some cases, lead to cost-cutting that affects safety margins.
For these reasons, Bureau Veritas considers fatalities per shipyear to be a more representative indicator of safety performance.
When assessed using this metric, the reduction in fatal accident recurrence is even more evident.
The Yasa Begonia Image courtesy of Yasa Denizcilik and Bureau Veritas
SHIPYEARS
Shipyears are calculated by assessing the number of ships active in a given year. This approach normalizes fatality data against fleet size, allowing for a more meaningful evaluation of long- term trends.
12 | ADMISI - The Ghost In The Machine | Q2 Edition 2026
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