Shipping's Aging Global Fleet Is Raising Safety Risks

The world’s merchant fleet is getting older, and according to Allianz Commercial, that trend is creating mounting safety risks as shipowners struggle to renew fleets amid shipyard shortages, geopolitical disruption and mounting regulatory demands.

In its Safety and Shipping Review 2026, Allianz said the average age of the global shipping fleet reached 23 years in 2025, while vessels more than 20 years old now make up nearly one-quarter of the world’s containership fleet—the highest share in decades.

The insurer warns that the aging profile of the fleet is no longer simply an operational concern but an emerging safety issue.

“Older vessels can