According to the US Coast guard, the losses experienced in the triangle are no greater than in any other area of ocean:
[the triangle] is noted for an apparent high incidence of unexplained losses of ship, small boats, and aircraft.
The Coast Guard does not recognize the
existence of the so-called Bermuda
Triangle as a geographic area of
specific hazard to ships or planes. In
a review of many aircraft and vessel
losses in the area over the years,
there has been nothing discovered that
would indicate that casualties were
the result of anything other than
physical causes. No extraordinary
factors have ever been identified.
There are unusual natural factors in the Bermuda Triangle, but they are known and exist similarly in various other locations worldwide (source):
A significant factor with regard to
missing vessels in the Bermuda
Triangle is a strong ocean current
called the Gulf Stream. It is
extremely swift and turbulent and can
quickly erase evidence of a disaster...the topography of the ocean floor
varies from extensive shoals around
the islands to some of the deepest
marine trenches in the world. With the
interaction of the strong currents
over the many reefs the topography of
the ocean bottom is in a state of flux
and the development of new
navigational hazards can sometimes be
swift.
With regards to the perpetuation of the "mystery", Skepdic concludes:
In short, the mystery of the Bermuda
Triangle became a mystery by a kind of
communal reinforcement among
uncritical authors and a willing mass
media to uncritically pass on the
speculation that something mysterious
is going on in the Atlantic.