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Environmentally friendly shipping can reduce freight costs

A recent study carried out in the Laboratory of Industrial Management at Åbo Akademi University indicates that improved ship utilization rates and investments in environmentally sustainable technologies for enhanced energy efficiency would not only significantly reduce carbon dioxide emissions within navigation but would also contribute to lowering freight costs.

Drewry: Manning costs to rise moderately in next five years

Manning costs have grown moderately over the last 12 months, checked by easing officer supply shortage, and are forecast to rise at a similar pace over the next five years, said global shipping consultancy Drewry in a new report. 

Drewry: East-West contract rates reduce shippers’ costs

Ocean freight rates for cargoes moving under contracts on major East-West routes decreased by 7% in the fourth quarter of 2018, which is mostly driven by moderate fall in the Asia-Europe rates, according to Drewry. The latest reduction in average East-West contract rates is the largest quarterly fall since the end of 2016.

Drewry: Ship operating costs are on inflection point

Average vessel operating costs increased modestly for the second consecutive year after two years of declines. However, cost inflation will accelerate on higher insurance premiums, according to the the Ship Operating Costs Annual Review and Forecast 2018/19 by Drewry.

Operating costs in shipping to increase over 2018 and 2019

Vessel operating costs in the shipping industry are expected to increase by 2.7% in 2018 and by 3.1% in 2019, according to Moore Stephens’s latest survey, ‘Future Operating Costs Survey’. Drydocking is the cost category likely to increase most significantly in both 2018 and 2019, followed by repairs and maintenance.

Ship operating costs decline for sixth successive year

Total ship operating costs fell by 1.3% in 2017, which compares with the 1.1% average fall in costs recorded for 2016, says Moore Stephens. For the third successive year, all categories of expenditure in 2017 were down on those for the previous 12-month period, mostly for insurance costs and stores.

Watch: How the ‘Effective Crew Project’ works

Merchant shipping is constantly seeking to balance safety, cost and efficiency, and crewing strategies are a key part of that equation. Led by Solent University, the ‘Effective Crew Project’ explores best practice from maritime and other industries, to improve safety, welfare and efficiency at sea.

Study: The true cost of oil-lubricated propeller shafts

On the sidelines of SMM trade fair in Hamburg, Thordon Bearings published a study highlighting the commercial and environmental benefits of seawater-lubricated propeller shaft bearing arrangements. The study was carried out in response to the increase in oil EAL lubricated sterntube bearing failures.


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