The UN is stepping in to salvage deserted oil tanker in 10 days: The United Nations is stepping in to pump out oil from the SFO Safer, an oil tanker stranded off the coast of Yemen within 10-14 days, Yemen’s UN coordinator David Gressly told AFP. The pumping intends to spare the environment a potential disaster that would require USD 20 bn to clean up. The salvage operation, which will cost an estimated USD 140 mn, is being entrusted to maritime service provider SMIT salvage. Experts say that the 47-year-old tanker, which has been stranded since the outbreak of the Yemeni civil war in 2015, is at risk of breaking apart, exploding, or catching fire. The Safer is carrying 1.1 mn barrels of oil, which is four times the amount that spilled during the 1989 Exxon Valdez disaster, one of the worst of its kind in history.

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Ship losses hit a 12-year record low in 2022:Around 38 larger vessels were lost in 2022 — an almost 33.3% y-o-y decrease from the 59 ships lost in the previous year, according to ins. provider Allianz. South China’s sea region saw the largest drop in ship losses. “Shipping losses have sunk to the lowest number we have seen in the 12-year history of our annual study reflecting the positive impact safety programs, trainings, changes in ship design and regulation have had over time,” Global Head of Marine Risk Consulting at Allianz Global Corporate & Specialty Rahul Khanna said.

But not all’s well in the shipping world: There remains to be some challenges and threats posing serious risk to the shipping industry, including the growth of the shadow oil tanker fleet in light of the Russia-Ukraine war and Western sanctions on Russia, as well as misdeclaration of hazardous cargo, and potential delays in carbonization efforts, Allianz says.

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