Rahul Khanna

However, vigilance is required because the speed and extent of the way the industry’s risk profile is changing is unprecedented in modern times.

In North America, the number of theft claims has increased for the past six years in a row, with a 20% increase year-on-year in 2022.

Shipping losses are the lowest in 12 years, thanks to safety programs, training, new ship design and regulation. That's the good news.

But Russia’s invasion of Ukraine; the move to decarbonization; crew and port congestion challenges and other issues mean there is no room for complacency,