The latest safety report from INTERCARGO shows that bulk carrier losses have declined over the past decade, while cargo liquefaction and flooding continue to pose the greatest risks to seafarer safety.
According to the report, 17 bulk carriers of 10,000 dwt or above were lost between 2016 and 2026. These incidents resulted in the loss of 71 seafarers and 1.63 million dwt of shipping capacity. The association also noted that the rolling 10-year average of annual vessel losses has continued to fall.
The global bulk carrier fleet also grew during the period covered by the report. The number of vessels increased by more than 30%, from 10,400 in 2013 to 13,669 in 2026.
INTERCARGO Chairman John Xylas said the steady reduction in bulk carrier losses reflects continued efforts to improve safety, while adding that every incident shows the importance of learning and acting together.
The report links the improvement to enhanced ship design, improved crew training, operational experience, and stronger regulatory compliance.
Cargo liquefaction remained the leading cause of loss of life, accounting for 37 fatalities, or more than half of the total. The report also found that vessels in the 50,000 dwt to 59,999 dwt range accounted for 52% of lives lost, despite representing only four of the 17 vessels lost. INTERCARGO said this concentration reflects the danger of nickel ore and similar high-risk cargoes carried by this class of ship.
Flooding was also identified as a risk to lives. Although fewer flooding incidents were recorded, the report said nearly half of all lives lost were due to flooding. Although outside the reporting period, the report also referred to the loss of the MV Devon Bay in early 2026 while carrying nickel ore. Two seafarers were lost and four were declared missing.
Groundings remained the primary cause of vessel losses, accounting for 41% of casualties. The report noted that these losses were concentrated in vessels aged 15 to 19 years, underlining the need for navigational discipline and passage planning as ships age.
The report also noted five bulk carrier casualties in the Red Sea and Gulf of Aden between 2024 and 2025 linked to missile, drone, and uncrewed vessel attacks. INTERCARGO condemned the actions, which resulted in fatalities and injuries.
INTERCARGO and its members said they continue to work with stakeholders to strengthen safety. The association called for continued vigilance on cargo declaration, testing procedures, and enforcement by flag and port states. It also recommended training for ship and shore personnel.
The report said practical implementation of the IMSBC Code is critical, including more prescriptive requirements on moisture testing, sampling procedures, and shipper declarations of cargo properties. INTERCARGO also called for transparent and timely casualty investigations so that lessons can be learned and shared more effectively.
With global dry bulk trade continuing to grow, INTERCARGO said maintaining and improving safety standards requires ongoing collaboration between shipowners, charterers, shippers, ports, and regulators.
