Ageing fleet driving increase in incidents


A clear uptick in casualties in 2024, driven by machinery damage/failure and an ageing fleet, stands out in the latest analysis of Lloyd’s List Intelligence casualty data.


The number of maritime casualties rose by 15% in 2024. Coupled with a 7% rise in casualties in 2023, this represents a concerning


development for the maritime industry, partic ularly with the global fleet growing at a considerably slower rate.


This trend has now been established for several years. While the overall number of incidents declined by 5% be tween 2014 and 2018, the figure has increased every year since.


Between 2018 and 2024, the number of incidents increased by 42%. Over the same period, the number of vessels in the global fleet increased by 10%.


Casualty data, which is sourced from Lloyd’s List Intelli gence, has been categorised under the following headings: collisions with another vessel, contact with a static object (e.g. harbour wall), fire/explosion, foundering (sunk or submerged), hull damage (hole, crack, or structural fail ure), machinery damage or failure (e.g. lost rudder, fouled propellor), piracy, war loss or damage during hostilities, and wrecked or stranded (aground).


Continuous increase in machinery failures boosts casualty rate


Machinery damage/failure has traditionally accounted for the largest portion of incidents. However, its share has increased significantly over the course of the past decade. In 2014, this accounted for 38% of all incidents but rose to 60% by 2024.


Machinery damage/failure is also the main driver of the sharp uptick in casualty numbers in 2024, accounting for 80% of incident growth.


While the reasons for these kinds of casualties are wide and varied, some key figures stand out from the statistics. Top of the list is the ageing global fleet. In 2014, 36% of the global fleet was 25 years or older, with a further 7% in the 20-24 years age category. In 2024, 44% of the global fleet was over 25 years old, with 9% in the 20-24 years age category.


78 | ISSUE 113 | SEP 2025 | THE REPORT Detentions casualties losses and world fleet


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