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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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Leading Sportswear Brand DESCENTE Opens at Galaxy Macau; Fusing Technical Aesthetics with Leisure & Travel Lifestyle
Inspired by Snow, Designed for the Future — DESCENTE Moves with Innovation
With nearly 90 years of history, DESCENTE originated in alpine skiing and is renowned for its ergonomic construction and high-performance technical fabrics. At the heart of the brand is the philosophy of “Design that Moves,” which represents not only physical motion but also the evolution of lifestyle through innovative design. From elite athletes to everyday city wearers, DESCENTE has consistently pushed the boundaries of sportswear with Japanese precision tailoring and functional elegance.
DESCENTE Galaxy Macau Flagship Store adopts the brand’s latest Store 4.0 concept — themed “Tomorrow’s World”. The space merges elements of snow culture, advanced technology, and urban living into one futuristic vision. Guided by the design pillars of “Trajectory, Breakthrough, and Energy”, the flagship store symbolizes the skier’s spirit of exploration and the brand’s ongoing mission to transcend limits. From the metallic façade to the directional arrow motifs and dynamic zoning, the retail environment exemplifies DESCENTE’s commitment to sustainability, innovation, and seamless integration of sports lifestyle — courageously embracing the endless possibilities of the future.
Reimagining Movement — Spotlight on Running & Training Innovation
Designed around four active lifestyle scenarios — running, training, commuting, and outdoor — the flagship store at Galaxy Macau creates an immersive customer journey that demonstrates real-life application of DESCENTE’s performance apparel. The featured collections this season include the latest Running and Training series, reflecting the brand’s continual evolution of performance technology and lifestyle-forward design.
Lightweight Performance — Running Collection
Engineered for lightness and breathability, the Running collection features men’s and women’s lightweight shorts and two core outerwear pieces. The Aerolite Skin Jacket focuses on windproof, breathable comfort with a futuristic translucent 3-layer shell and ergonomic F360 silhouette for mobility and performance. The Aerolite Shell Jacket delivers versatile weather protection with breathable, lightweight layering ideal for Macau’s changing climate. Both styles utilize two of DESCENTE’s signature technologies— the waterproof and breathable DERMAZAX® 3-Layer fabric, and SCHEMACTECH AERO, a structural cutting technology that enhances stability and freedom of movement.
Dynamic Control — Body Flex Training Collection
The Training collection centers around the Body Flex range, tailored for high-intensity movement and dynamic flexibility. With advanced elastic construction and precision fit, the men’s training wear provides both structure and freedom — ideal for urban workouts and daily mobility. DESCENTE’s long-standing collaboration with elite athletes ensures that every piece is engineered for functionality, comfort, and style. Whether under extreme training conditions or for casual wear, the apparel showcases the brand’s unwavering pursuit of motion performance and wearing comfort.
From Summit to Street — Defining a Multifunctional Lifestyle
DESCENTE Galaxy Macau Flagship Store also showcases the brand’s commitment to lifestyle versatility through three core series: ALLTERRAIN, DUALIS, and GOLF. This area features the ALLTERRAIN series, designed for high-end outdoor activities, and the DUALIS series, suitable for daily commuting and light outdoor pursuits. The ALLTERRAIN series uses a minimalist design and high-performance materials for various terrains and harsh conditions, combining technology and craftsmanship to meet outdoor enthusiasts’ needs with exceptional functionality and durability. The DUALIS series brings DESCENTE’s craftsmanship into urban living, offering a flexible and lightweight design perfect for daily commutes and light outdoor activities, allowing modern urbanites to transition effortlessly between city and outdoor settings.
The GOLF series showcases DESCENTE’s innovative spirit and expertise from skiing, tailored for golf enthusiasts. Designed for comfort and functionality, these products feature ergonomic designs and high-performance fabrics, merging DESCENTE’s craftsmanship with athletes’ needs for precise swings and stable postures on the course.
Limited-Time Personalization Experience — Mark a Moment in Sport & Style
To celebrate the opening of the flagship store at Galaxy Macau, DESCENTE offers each guest a personalized canvas tote bag, hand-painted on-site by a local artist. The activation combines artistic flair and sport spirit, creating a collectible gift that blends personalization, interaction, and DESCENTE’s attention to detail.
Hashtag: #DESCENTE
The issuer is solely responsible for the content of this announcement.
About DESCENTE
Founded in 1935, DESCENTE is a French word meaning “downhill skiing.” The DESCENTE signature arrow logo – known as the “Spirit Mark” – represents the basic skiing techniques of “schuss,” “traverse,” and “sideslip.” Over its 89-year history, the brand has expanded into cycling, running, golf, cross-training, and high-performance gear. By merging functional beauty with exceptional craftsmanship, DESCENTE meets the diverse needs of athletes through innovative designs and collaborations with top professionals. Guided by the brand concept “Design that Moves,” DESCENTE believes that only with exceptional designs backed by continuous technological innovation, it is possible to underpin sportsmanship, make breakthroughs, nurture new forms of sport, and strengthen character. And it is the spirit of those people who share our love of sport that keeps us progressing with relentless innovation.
DESCENTE Galaxy Macau Flagship Store
Address: G009B, G/F Promenade East, Galaxy Promenade
Opening Hours:
Sunday to Thursday: 10:00 – 22:00;
Friday, Saturday, Public Holidays 10:00 – 00:00
Facebook: https://www.facebook.com/HONGKONGDESCENTE/
Instagram: 
https://www.instagram.com/descentehkg/
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Kaspersky Partners with SIS International Limited to Expand Distribution in Hong Kong
Through SiS International Limited, Kaspersky’s industry-leading security products —including endpoint protection, threat intelligence, and advanced threat detection and response —will be more widely available, ensuring enhanced protection against evolving cyber threats.
“As cyber risks continue to grow, partnering with a trusted distributor like SIS International Limited allows us to strengthen our reach and better serve customers in Hong Kong,” Adrian Hia, Managing Director for Asia Pacific. “This expansion ensures that businesses and individuals have seamless access to the cybersecurity tools they need to safeguard their digital environments.”
General Manager of Kaspersky in Greater China Alvin Cheng said, “We are honored that Kaspersky has signed an agency agreement with SIS International Limited. Currently, with the continuous escalation of cybersecurity challenges, Kaspersky’s technologies and products possess significant advantages. By leveraging the resources of SIS International Limited, we are able to provide customized security services to enterprises in various sectors in Hong Kong, China. Through the joint efforts of both parties, we are certain to build a high-quality ecosystem, create more business opportunities, achieve a win-win situation, and drive the development of the industry.”
“We are deeply honored to be appointed as Kaspersky’s official distributor in Hong Kong,” said Raymond Au, general manager at SiS International Limited. “This partnership aligns seamlessly with our mission to provide cutting-edge IT solutions and enhance cybersecurity for our valued clients. We are committed to working closely with Kaspersky to deliver advanced security solutions tailored to the unique needs of the Hong Kong market.”
By joining forces with SIS International Limited, Kaspersky is enhancing product availability, customer support, and cybersecurity resilience across Hong Kong. Clients can expect greater convenience and improved service quality, reinforcing the region’s defenses against modern cyber threats.
This collaboration comes at a pivotal time when cybersecurity is of paramount importance, as businesses and individuals face increasingly sophisticated cyber threats. By joining forces, Kaspersky and SiS International Limited are committed to fostering a secure digital environment and empowering organizations to thrive in the digital era.
For more information, please contact: Joe Lam, channel director, Kaspersky Hong Kong
Email: [email protected] Website: www.kaspersky.com
Hashtag: #Kaspersky
The issuer is solely responsible for the content of this announcement.
About Kaspersky
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection, specialized security products and services, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help over 200,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.
About SIS International Limited
SiS International Limited is one of the largest distributors of IT solutions across Asian countries. With over 30 years in the distribution business, SiS has managed to build long-term and trusting relationships with vendors and channel partners. As an experienced distributor, SiS International Limited provides a wide variety of products and offers professional technical services. By delivering business solutions to our customers, we assist in successfully proliferating their businesses.
Media OutReach
Anhui Unveils Teaser for 2025 World Manufacturing Convention, Extending a Global Invitation to Innovate Together
Scheduled for September 20–23 in Hefei, Anhui, China, the 2025 Convention will welcome dignitaries, industry leaders, Fortune Global 500 executives, representatives from international organizations, diplomats, and sister-city delegations from nearly 50 countries and regions. Together, they will explore new pathways for advancing high-quality development in the manufacturing sector.
Endorsed by the State Council as a national-level event, the Convention is co-hosted by the Anhui Provincial Government and the National Advisory Committee on Building a Manufacturing Power, among others. Since its launch in 2018, it has grown into a key platform for showcasing China’s cutting-edge equipment, enabling global manufacturers to establish a presence in China, and promoting Chinese high-end manufacturing to the world.
This year’s edition will also feature the Artificial Intelligence & Consumer Electronics Expo and the China (Hefei) International Digital Economy Expo, with a focus on “Digital-Real Integration, Intelligent Future.” The exhibition is expected to reach unprecedented scale and influence, complemented by a series of high-level forums and matchmaking events designed to accelerate the convergence of AI, digital technologies, and manufacturing—fueling the growth of new productivity drivers.
The teaser release underscores Anhui’s confidence, dynamism, and commitment to innovation and industrial transformation, showcasing the boundless potential at the intersection of manufacturing and the digital economy. As a vibrant hub of innovation, Anhui warmly invites the world to join in this landmark celebration of human ingenuity and machine intelligence.
The video link is as follows: https://www.youtube.com/watch?v=brt6dMOMPG8
Hashtag: #WorldManufacturingConvention
The issuer is solely responsible for the content of this announcement.
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