GITNUX MARKETDATA REPORT 2024

Statistics About The Most Expensive Container Lost At Sea

The average value of the most expensive container lost at sea is around $90,000.

Last Updated: June 17, 2024

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In this post, we explore the staggering statistics surrounding the loss of containers at sea. From the average number of containers lost each year to the financial implications and industry trends, the data paints a vivid picture of the challenges faced by the shipping industry. Join us as we delve into the numbers behind this costly and impactful issue.

Statistic 1

"On average, about 1,382 containers are lost at sea each year."

Statistic 2

"In 2020, over 3,000 containers were lost in the sea, which is above the annual average."

Statistic 3

"The highest number of containers lost in a single incident was approximately 5,578 in 2013, in the MV MOL Comfort incident."

Statistic 4

"M/V Rena reported the second-highest expensive loss, costing around $1 billion, including containers and cleanup costs."

Statistic 5

"Cargo value of lost containers varies, with electronics and furniture being among the most expensive, sometimes reaching up to $50,000 per container."

Statistic 6

"The shipping industry is only expecting to recover around 10% of the total losses from the MOL Comfort incident."

Statistic 7

"Each year, about $4 billion worth of goods are lost at sea."

Statistic 8

"Container loss incidents increased by nearly 30% from 2011 to 2016."

Statistic 9

"There has been a 38% increase in average container loss per incident over the past decade."

Statistic 10

"Maersk Line, the world's biggest container shipping company, has previously lost up to 520 containers in a single journey."

Statistic 11

"The ONE Apus incident in 2020 resulted in over 1,800 containers lost at sea, marking one of the largest losses in recent years."

Statistic 12

"Weather-related causes are responsible for around 65% of all lost containers between 2008 and 2019."

Statistic 13

"In 2019, the insurance cost for the container shipping industry due to losses was roughly $15.6 billion."

Statistic 14

"On average, containers have a lifespan of 15 years, but accidents can lead to their premature loss."

Statistic 15

"The exact number of containers lost at sea is difficult to determine accurately due to under-reporting. The World Shipping Council estimates the real number could be much higher than reported figures."

Statistic 16

"About half of all containers lost at sea sink immediately, while the rest can float for weeks or even months, leading to maritime hazards."

Statistic 17

"It's estimated that less than 1% of all containers are lost during maritime transport, despite the high-profile cases."

The statistics on container losses at sea reveal a concerning trend within the shipping industry, with an average of 1,382 containers lost annually. The significant increase in container loss incidents, such as the over 3,000 containers lost in 2020 and the record-breaking 5,578 containers lost in the MV MOL Comfort incident, emphasizes the magnitude of the problem. With cargo values sometimes reaching up to $50,000 per container and insurance costs for the industry amounting to billions of dollars, the financial impact is substantial. Weather-related causes remain a primary factor in container losses, highlighting the industry’s vulnerability to natural elements. Despite efforts to mitigate risks, the under-reporting of lost containers and uncertainties surrounding the actual number of losses pose challenges for accurate measurement and prevention strategies. The shipping industry faces ongoing challenges in reducing container losses at sea and safeguarding valuable cargo.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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