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5 Cargo

5.2 Bulk carriers

1. Inherent vice

5.2.1 Statistics2. Grounding

Of the three types of vessel, bulk carriers recorded the 3. Collision
4. Leaking vents
highest average claims costs and also the highest frequency
of claims over the past ten years.5. Insuficient cleaning

The top 10 most expensive claims over the past 10 years 6. Damage prior to loading
7. Unknown
were in the following claims categories:
8. Poor tally

9. Flooding of hold
10. Unknown

Graph 5.8: Average claim cost and frequency Graph 5.9: Average claims costs and frequency

Claims 5,000–3,000,000 (USD)Claims 1–3,000,000 (USD)

Period: 2005 - 2014Period: 2005 - 2014
Type of vessel: Bulk carriers Type of vessel: Bulk carriers
Type of claim: CargoType of claim: Cargo
As per 30/9/2015As per 30/9/2015

220,000 130,000 0.650.30
200,000 0.28120,000 0.60
180,000 0.26 110,000 0.55
160,0000.24 100,000 0.50 0.22
140,000 0.20 90,000 0.45
120,000 0.18 80,000 0.40 70,000 0.35
100,000 0.1660,000 0.30
50,000 0.25 0.14 0.12
40,000 0.2080,000 0.10
60,000 0.08 30,000 0.15
40,000 0.06 20,000 0.10
20,000 0.040.02 10,000 0.05
0 0.000 0.00
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 PERIODPERIOD
Cost Cost
FreqFreq

The frequency for claims above USD 5,000 is rising.The frequency for claims below USD 5,000 is falling.

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