Chinese newbuildings are producing much more frequent claims than vessels from Japanese or South Korean yards, according to a pioneering analysis by Cefor, the Nordic Association of Marine Insurers.
About 27% of vessels from Chinese yards produced an insurance claim last year, compared to 14% of Korean-built vessels and only 10% of Japanese tonnage.
Although there have long been suspicions about the quality of some Chinese-built ships — particularly those from smaller greenfield or beach yards — the Cefor statistics are the first to provide hard evidence that this is the case.
Cefor
