2022 June Hull trends

Cefor half-year hull trend report as of June 2022 published.

Contents:

• Vessels activity back to pre-Covid levels in most segments including cruise but claims frequency and cost not yet catching up equally.
• Claims frequency: Slight upward trend after extraordinary dip in 2020 but still at moderate level. 
• Total loss frequency: continues to stay at a very low level.
• Major claims: moderate in the first half year of 2022. Four losses in the USD 10-30 million range were reported in the first half year of 2022, none exceeding USD 30 million.    
• Claim cost per vessel: still moderate despite concerns about inflation of steel and other costs which may impact repair costs.   
• Vessel values: Vessel values show again strong increase in 2022 first half year renewals. Most of the increase driven by container vessels which show about 30% increase for the second year in a row. On the downside supply/offshore vessel values continued to decrease also into 2022 but oil price rallying may change outlook for that segment.        

Read the whole report here.