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.
Maersk is now increasing fuel surcharge imposed on the transport of boxloads of goods as the implementation of the new environmental rules sent the industry’s costs soaring.
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.
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.
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.
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.
Scrubber-fitted dry bulk vessels could be earning a significant premium over those burning more expensive low sulphur fuel and higher asset values will reward those owners that fitted the technology early, according to Maritime Strategies International analyst, Will Fray.
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.
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.
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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