The number of global ship losses continues to rise, with 2010 one of the five worst years for vessel losses in the past 17 years.

According to the International Union of Marine Insurance (IUMI), there were 623 serious losses – a similar figure to the previous year.

IUMI Facts and Figures Committee Chairman Patrizia Kern says the failure to stem the high level of casualties is of great concern to insurers.

The number of total losses in 2010 stands at 63, although not all claims have been settled so it is expected the figure will rise as final reports come in.

In 2008 the number of total losses increased from 89 to 96 when the final reports were lodged and for 2009 it rose from 67 to 86.

“This would suggest that 2010 will be similar to its preceding two years,” Ms Kern said.

“At this early stage of development of the book, nearly 600,000 gross tonnes has already been reported as lost in 2010, against nearly 645,000 gross tonnes in 2009.”

Weather continues to be the major cause of total losses, followed by groundings.