2018 June Cefor Hull trends report
Hull trends per June 2018: Claims trends stay stable at low level, Vessel values slightly recovering
Major claims impact continued to be low in the first half of 2018, despite one grounding with a cost of USD 25 million in the first quarter of the year. The overall claims frequency continues its positive trend and stabilizes at a relatively low level. The total loss frequency reached a minimum in the first half of 2018, and continues thus the last year's trend with some oscillation at low levels between 0.05% and 0.1%.
Insured values dropped on average 2.5% on 2018 renewals, compared to a drop of 5.8% in 2017 and 7.% in 2016. The improvement is especially due to some recovery in the supply/offshore segment in 2018 after an increase in the oil price, following a recovery in the bulk market in 2017.
However, it should be noted that there is an increasing gap between the development of vessel values as compared to the average vessel size.
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