The loss of modern high-value vessels has been highlighted by the Institute of London Underwriters (ILU) in its third-quarter assessment of ship casualties. Although there were only 10 total losses through the third quarter they included a number of relatively costly ships such as the 1991-built containership Tiger Force and the 1996-built bulk carrier Sea Prospect.
The 3,988-gt Tiger Force, insured for $5.2m,
