Media OutReach
Geopolitical tensions lead to increasing risks for shipping sector globally
- Allianz Safety and Shipping Review 2025: Trade conflict between the US and China and growing shadow fleet add to substantial challenges for the shipping industry.
- Despite geopolitical headwinds: only 27 large ships lost worldwide in 2024, down by more than 20%, the industry’s lowest-ever total.
- Progress made on traditional risks such as fires, collisions, and groundings, which are the main causes of losses, but potential for large claims remains a concern.
SINGAPORE – Media OutReach Newswire – 27 May 2025 – The fast-changing geopolitical landscape is creating new risks and challenges for a shipping industry already juggling the energy transition and the legacy of the Covid-19 pandemic, according to Allianz Commercial’s Safety and Shipping Review. The industry faces an increasingly volatile and complex operating environment, marked by attacks against shipping, vessel detentions, sanctions, as well as the fall-out from incidents involving damage to critical sub-sea cables. Furthermore, the ripple effect of increasing protectionism and tariffs threatens to remake supply chains and shake up established trade relations.
Given 90% of international trade is transported across oceans, those developments are concerning, especially as the industry continues to see the potential for large claims from traditional risks such as fires, collisions and groundings, which are still the main drivers for total losses of large vessels. However, there is also good news. The shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year. This total had halved 10 years ago and is now down to a record low of 27 as of the end of 2024 (from 35 in 2023).
“The relevance of political risk and conflict as a potential cause of maritime loss is increasing with heightened geopolitical tensions. Total losses from traditional causes may have reduced over time, but we could be in a position where this positive trend is potentially offset by war and other political-related exposures. As an industry, we are in a better position with regards to traditional risks, but there is a renewed focus on geopolitical risks,” says Captain Rahul Khanna, Global Head of Marine Risk Consulting, Allianz Commercial.
US-China trade conflict and growing shadow fleet bring uncertainty and challenges
China has been the biggest target of the protectionist measures of the US administration with tariffs reaching 145%, before both countries agreed to reduce them for 90 days. Developments have significantly impacted global maritime trade with approximately 18% of it subject to tariffs as of mid-April 2025, compared with 4% in early March, and dramatic declines in shipments reported in the immediate aftermath of the “Liberation Day” announcements. While the future of US trade-focused policies remains uncertain, another phenomenon is posing an increasing challenge for the maritime and insurance industries: the shadow fleet. Since the start of the war in Ukraine, the size of the shadow fleet has grown significantly. Today, around 17% of the world tanker fleet is thought to belong to the shadow fleet: estimates indicate there are close to 600 tankers trading Russian oil alone. Shadow fleet vessels have been involved in tens of incidents around the world including fires, collisions and oil spills.
“Although recent sanctions are making it harder for these vessels to trade, the shadow fleet continues to pose a serious risk to maritime safety and the environment, as many are likely to be older vessels that are poorly maintained and inadequately insured. In case of an oil spill involving a shadow fleet tanker, cleanup costs could be as much as US$1.6bn,” says Justus Heinrich, Global Product Leader, Marine Hull, Allianz Commercial.
Red Sea rerouting: older vessels and riskier routes in addition to higher costs
With ongoing geopolitical volatility in the Middle East, many ship operators have rerouted vessels around the Cape of Good Hope, adding time and cost to transits between Asia and Europe. For example, this rerouting adds around $1mn in costs and at least 10 days to a typical transit between China and Europe. According to estimates, cargo volumes in the strait had fallen by two-thirds by September 2024, with rerouting costing the global economy some US$200bn that year. The quality and safety of vessels may also be impacted as a result of this rerouting.
“With container capacity under pressure, some shipowners have gone out to the market to meet supply, purchasing tonnage that is often older and second best. This has helped push up values and seen vessels scheduled for scrap and older tonnage stay in the market longer. The concern is that when called back into service, these vessels may not be in the best state to operate safely on longer sea routes and in rough weather,” says Captain Nitin Chopra, Senior Marine Risk Consultant, Allianz Commercial Asia.
Fires and mis-declared cargo remain a top concern for large vessels
Large vessel fires are still a major concern for hull and cargo insurers. There were seven total losses reported across all vessel types during 2024, the same number as a year earlier. The number of incidents overall was up year-on-year to a decade high of 250, again across all vessel types. Around 30% of these fire incidents occurred on either container, cargo or roll-on roll-off vessels (ro-ros) (69). More than 100 total losses of vessels have been caused by fires in the past decade. Efforts to mitigate these risks are underway, with regulatory changes and technological advancements aimed at addressing mis-declared cargo, a primary contributor to such fires. This is critical as the electrification of the global economy poses further challenges given the growing number of lithium-ion batteries and battery energy storage systems being transported.
“There is little doubt the shipping industry is becoming more resilient against the risks associated with large vessels, although we can by no means say they are under control. However, only 27 total losses during 2024 underlines the positive trend. To put this into perspective: there are over 100,000 ships (100GT+) in the global fleet. However, uncertainty and multiple risks persist. Cyber-attacks and GPS interferences are increasing. Ceasefires have raised hopes, but the Red Sea security threat and supply chain disruption will likely remain. Meanwhile, the green transition requires much work. The coming years will be decisive and will determine the path of the sector and global trade,” explains Captain Rahul Khanna, Global Head of Marine Risk Consulting, Allianz Commercial.
Hashtag: #shipping #allianzcommercial
https://commercial.allianz.com/
financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally. https://commercial.allianz.com/
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Media OutReach
2nd MOTIFX – Embracing the Beauty of Chinese Culture Culture to Nature – A Surreal Garden of Botanical Patterns
Organised by the Hong Kong Design Institute (HKDI) under the Vocational Training Council (VTC) and sponsored by the Cultural and Creative Industries Development Agency (CCIDA), MOTIFX invites emerging designers to reinterpret traditional Chinese motifs for contemporary contexts, seamlessly integrating historical patterns into modern objects, interiors, and lifestyle products while deepening new generations’ engagement with their cultural heritage.
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture invites designers to explore the mystical side of Chinese characters, with a particular focus on Radical Grass (艹 / 艸) and its evocative connection to a surreal world of nature. While respectfully acknowledging the cultural and philosophical differences between Eastern and Western traditions, the project embraces nature’s whimsy and dreamlike beauty with open delight
This inspiration gives birth to the central theme: Culture to Nature – A Surreal Garden of Botanical Patterns. Curated by Michael LEUNG, the exhibition brings together numerous design students and local designers who are in studies across diverse disciplines to rediscover the vibrant potential of Chinese characters. In doing so, it redefines the relationship between cultural heritage and the natural world, resulting in an imaginative collection of patterns and design works that vividly capture the theme.
A key highlight is the immersive installation Surreal Garden, created by designers Moon.noon and Stickyline. Inspired by “Radical Grass” motifs designed by these young creatives, the duo transforms two-dimensional patterns into a multi-sensory experience. Visitors move seamlessly from the physical space into a digital dreamscape, journeying through the four seasons guided by the 24 traditional solar terms — from the blossoming of spring to the retreat of winter — tracing the boundless rhythms of nature.
This surreal journey continues throughout the exhibition, which showcases over 100 original patterns created by local design students, each derived from the 艹 radical. Like countless flowers blooming in a shared field, these works express diverse creative voices, yet all are rooted in the same ancient, ever-living origin — the enduring 艹 .
DesignInspire 2025 was transformed into this fantastical garden woven from Chinese characters and nature’s boundless poetry — and let your imagination take flight.
Curator: Michael LEUNG
Born in Hong Kong, Michael LEUNG earned his Master’s degree from Design Academy Eindhoven in the Netherlands, where he later founded Studio AA (previously MIRO). His practice spans graphic, product, and spatial design, often exploring the intersections of craftsmanship and industry, local culture, and sustainability. Recipient of the Hong Kong Young Design Talent Award and Perspective 40 Under 40, his work has been showcased at Milan Design Week, Dutch Design Week, and other major international exhibitions. In recent years, he has collaborated with institutions such as the Vitra Design Museum (Germany) and the V&A (UK), extending his creative vision into exhibition curation.
Participating Artist: Moon.noon
Moon.noon (KONG Fan-leung) is a real-time visual artist who masterfully blends data-driven storytelling with immersive audio-visual and sensory experiences. A former user-experience designer, he now transforms complex sources — climate data, urban landscapes, audience interaction — into powerfully evocative visual languages. His works have appeared at M+, Hong Kong Chinese Orchestra, West Kowloon Freespace Jazz Festival, and in collaborations with Coca-Cola, LG, and Samsung.
Participating Artist: STICKYLINE
Founded in 2011 by Hong Kong creative artists Mic LEONG and Soilworm LAI, STICKYLINE is celebrated for its large-scale polyhedral sculptures that reveal the beauty of creative engineering, mathematics, and geometry. Working primarily with paper and metal, and integrating kinetics, sound, and light, the duo produces minimalist, durable, and strikingly futuristic installations, site-specific works, and private commissions that have earned widespread acclaim in the design world over the years.
Moroso × HKDI Furniture Collaboration Project
The exhibition showcases a creative collaboration between renowned Italian luxury furniture brand Moroso and design students from the HKDI’s Department of Architecture, Interior and Product Design (AIP). Together, they present the forward-looking project with MOTIFX patterns printed on the fabrics to “Designing Clothes for Furniture Objects.”
This initiative reimagines furniture as living bodies to be dressed, where textiles and soft elements become expressive garments. Moving beyond surface aesthetics, students explore adaptability, sensory depth, and emotional resonance, while engaging with ideas of circularity, modularity, and service-oriented design. The design challenge invites them to create interchangeable and upgradeable “furniture garments” that respond to personal habits, environments, and even special occasions.
Event Details:
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition at DESIGNINSPIRE 2025
Date : 4 Dec – 6 Dec, 2025
Time : 9:30am-7:30pm
Venue : Booth no. 3E-D02, Hong Kong Convention and Exhibition Centre
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition
Date : 3 Mar – 31 Mar, 2026
Time : 10:30AM – 7:30PM (Monday to Sunday)
Venue : 2/F, LANDMARK ATRIUM
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition at FASHION INSTYLE, HOME INSTYLE EXHIBITION 2026
Date : 27 Apr – 30 Apr, 2026
Time : 9:00AM – 6:00PM
Venue : Concourse Area, Hong Kong Convention and Exhibition Centre
Hashtag: #MOTIFX
The issuer is solely responsible for the content of this announcement.
About Vocational Training Council (VTC)
Established in 1982, the Vocational Training Council (VTC) is the largest vocational and professional education and training provider in Hong Kong. The mission of VTC is to provide a valued choice to school leavers and working people to acquire the values, knowledge and skills for lifelong learning and enhanced employability, and also to provide support to industries for their manpower development. VTC has 14 member institutions, namely the Technological and Higher Education Institute of Hong Kong (THEi), the Institute of Professional Education And Knowledge (PEAK), the School for Higher and Professional Education (SHAPE), the Hong Kong Institute of Vocational Education (IVE), the Hong Kong Design Institute (HKDI), the Hong Kong Institute of Information Technology (HKIIT), the Hotel and Tourism Institute (HTI), the Chinese Culinary Institute (CCI), the International Culinary Institute (ICI), the Maritime Services Training Institute (MSTI), Youth College, Pro-Act by VTC, the Integrated Vocational Development Centre (IVDC) and the Shine Skills Centre.
Website: 
www.vtc.edu.hk
About Hong Kong Design Institute (HKDI)
Hong Kong Design Institute (HKDI) is a member of VTC Group. HKDI was established in 2007 with the mission to be a leading provider of design education and lifelong learning, including architecture, interior and product design, communication design, digital media, and fashion and image design. With a view to providing professional designers for the creative industries, it promotes the “think and do” approach and encourages interdisciplinary synergy in its broad range of design programmes that cultivates students’ cultural sensitivities and sense of sustainability. HKDI maintains a strong network with industry and provides its students with essential practical experience. Overseas exchanges are actively arranged for students to broaden their international perspective.
Website: http://www.hkdi.edu.hk
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Media OutReach
InterContinental Singapore Robertson Quay Strengthens Guest Experiences Through The Quay Insider Programme
The Story Behind The Quay Insider
Introduced in early 2025 as part of the InterContinental brand’s hallmark of “Insider Expertise”, The Quay Insider embodies InterContinental Singapore Robertson Quay’s commitment to connecting travellers with the authentic and lesser-known sides of Singapore. This comes to life through partnerships with local brands around the neighbourhood, inviting guests to immerse themselves in the city’s vibrant culture and storied heritage.
Crafting Experiences For Every Traveller
The Quay Insider has been thoughtfully designed to cater to a variety of traveller interests. The Cultural Enthusiast seeks authentic immersion, connecting with the heart of a destination through its local flavours, rich heritage and timeless stories. The Creative Wanderer discovers rare and remarkable experiences, from curated dining journeys to artisanal craftsmanship, that reflect bold individuality. The Wellness Seeker pursues balance amidst the rhythm of modern life, choosing mindful experiences that uplift and rejuvenate. By aligning curated privileges with these personas, The Quay Insider ensures that each guest’s journey is both enriching and personalised.
For business travellers, The Quay Insider privileges are crafted to enhance the comfort and convenience of the hotel’s luxury suites, seamlessly balancing work with moments of relaxation. For leisure guests, the programme allows them to immerse themselves in the precinct’s rich cultural and heritage experiences that have shaped Singapore into the city it is today. By fostering experiential travel, The Quay Insider transforms each stay into a journey of discovery, with curated local encounters that add depth and distinction to every visit.
Curating Our Neighbourhood Partners
Over 25 partners were curated for their commitment to authenticity, alignment with guest interests, and exceptional quality. Spanning independent designers, art collectives, wellness studios, and award-winning restaurants, these partnerships offer guests privileges ranging from complimentary additions with purchase and curated cultural tours to bespoke wellness and dining experiences that are tailored to each individual’s interests.
The programme spotlights local businesses and tour operators to support sustainable tourism through preservation of the creative, heritage and cultural identity of Robertson Quay. By connecting guests with local experiences around the neighbourhood, it reinforces InterContinental Singapore Robertson Quay’s positioning as both a luxury riverfront haven and a gateway to the neighbourhood’s heritage rhythm and cultural vibrancy.
Creating Meaningful Connections Beyond The Stay
From culinary experiences and cultural explorations to moments of rest and wellness, The Quay Insider complements the hotel stay by introducing guests to lesser-known aspects of Singapore’s dining, culture, and wellbeing scene. It helps leisure travellers discover local highlights and offers business travellers experiential travel opportunities to relax and explore nearby, all within easy reach of the hotel.
“The Quay Insider invites guests to experience more than just a stay,” shared Kieran Quinn, General Manager, InterContinental Singapore Robertson Quay. “It connects them to the heart of Robertson Quay through meaningful partnerships with community partners in the neighbourhood, enriching guest experiences while helping to support the local community.”
Building The Next Chapter Of Hospitality
InterContinental Singapore Robertson Quay remains committed to sustaining long-term partnerships within the community, supported by dedicated communication efforts that keep guests informed of the privileges available through The Quay Insider. Renewed annually, this ensures the programme stays attuned to evolving guest interests and the growing demand for meaningful, experiential travel.
Moving forward, the hotel is also exploring more collaborations across the precinct to further expand the scope of insider experiences. These initiatives aim to introduce both international travellers and local guests, including those booking a staycation package in Singapore, to a wider range of experiences. As such, the programme can continue to evolve in line with the needs and aspirations of today’s travellers. This allows InterContinental Singapore Robertson Quay to weave local experiences seamlessly into every guest’s stay experience.
Hotel Positioning
Alongside The Quay Insider, InterContinental Singapore Robertson Quay maintains its positioning as a luxury lifestyle hotel for modern travellers. Its residential-inspired design complements the experiential travel focus of the programme, offering guests the combination of contemporary comfort and immediate access to local culture.
The introduction of the programme sets the hotel apart by embedding cultural engagement seamlessly into the guest journey. Both leisure and business travellers may enjoy a hospitality experience that weaves meaningful experiences around the neighbourhood, together with the refined luxury of InterContinental Singapore Robertson Quay.
Hashtag: #InterContinentalSingaporeRobertsonQuay #TheQuayInsider #CondéNastReadersChoice2025
https://robertsonquay.intercontinental.com/
http://www.facebook.com/InterContinentalRobertsonQuay
https://www.instagram.com/intercontinentalrq/
The issuer is solely responsible for the content of this announcement.
About InterContinental Singapore Robertson Quay
InterContinental Singapore Robertson Quay is a luxury hotel nestled in the heart of Singapore’s newest micro-destination. Situated on the banks of the Singapore River at one of the most exclusive addresses, InterContinental Singapore Robertson Quay is a ripe host of thoughtful amenities and personalised services.
The 225 studios and suites are reminiscent of a private residence, surrounded by vibrant dining options, art houses and heritage sites, with the CBD located just 5 minutes away. The sleek urban property reflects the neighbourhood’s industrial past with modern, contemporary finishes complemented by outdoor terraces boasting river views.
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