Globally, there are currently over 6,000 active ships carrying containers and the twenty-foot-long containers (TEU) capacity of the container ship fleet has grown by nearly 76% between 2017 and 2020.1 Given this tremendous growth on a large worldwide fleet, the climate change-induced increase in tropical cyclone intensity, paired with the recent congestion at major ports worldwide, amplifies the risk exposure for containers to be lost at sea.
Climate Change
Just looking at the North Atlantic alone, cyclone intensity has visibly increased over the last two decades, with eight of the ten most active years since 1950 occurring within the