Drewry officially announced the launch for its first low-sulphur bunker index tracker. Keeping in mind the IMO 2020 low-sulphur regulation, the maritime consultancy along with its index aims to bring a remarkable and greater transparency to fuel costs.
Based on Drewry’s latest Ship Operating Costs Annual Review and Forecast 2019/20 report, it is highlighted that the underlying vessel operating cost inflation moderately increased in 2019 on higher repair and maintenance and insurance spend, with the future costs expected to go on the same pace in 2020.
In the first days of December Drewry will launch the first Bunker Adjustment Factor (BAF) reference price based on low-sulphur fuel, to assist shipowners cover the additional cost of the cleaner, low-sulphur fuel, as the sulphur cap is approaching.
It is currently estimated that operators will be faced with an additional $11 billion fuel bill related to the switchover to low-sulphur fuel oil (LSFO) next year, according to the latest container market outlook of Drewry. Moreover, there is still no clear guidance on just how much additional cost it will cause on the industry and the recent oil-price spikes due to the drone attacks on Saudi oil facilities further complicate the scenario.
Drewry in cooperation with CyberLogitec launched a white paper stating that online platforms that enable shipping lines and their customers to communicate better, could enhance vessel utilisation vessels and decrease freight rate volatility.
As car carrier shipping is expected to continue its slow recovery, backed by better utilisation and minimal vessel ordering, costs are increasing while the trade outlook seems vulnerable to emerging geopolitical risk. These are the findings of the Finished Vehicle Shipping Annual Review and Forecast 2019/20 report published by Drewry.
Reefer container equipment availability is expected to remain tight during the next few years, thus affecting shipping capacity supply and freight rates at seasonal peaks, Drewry’s latest Reefer Shipping Annual Review and Forecast 2019/20 report informs.
The outlook for global container port demand is modest growth and a number of uncertainties, but capacity expansion plans are also muted. This means that most world regions will face an increase in average terminal utilisation, according to the Global Container Terminal Operators Annual Review and Forecast 2019, by Drewry.
After remaining stable for two months in a row during March and April 2019, the global Drewry Container Port Throughput Index increased by three points (2.2%) in May 2019. However, on an annual basis the growth was lower at just 1.1% (1.5 points). A decrease in global growth and tariff war issues were the main factors that affected the index.
Smart devices have the ability to significantly transform the utility and value of shipping container equipment assets, according to Drewry’s latest Container Census & Leasing Annual Review & Forecast 2019/20 report. Smart containers have expanded in prominence in a very short space of time and the pace of adoption is expected to be faster over the next five years.
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