The diminishing attractiveness of a career at sea, coupled with rising man-berth ratios and continued fleet growth will lead to the highest shortfall of officers to crew the world’s merchant fleet in over a decade by 2026.
Reefer container freight rates have risen sharply this year but remain far outgunned by the inexorable rise in dry box pricing, according to Drewry’s newly launched Reefer Shipping Forecaster report.
The new service, which will be marketed under Drewry’s existing e-Sourcing Ocean Freight Solution (eSOFS™) brand, provides shippers with a more effective, broader and scalable approach to managing complex sourcing events.
Vessel operating costs have risen at their fastest pace in over a decade this year, on higher insurance cover premiums and COVID-19 related expenses, but are expected to moderate in subsequent years as pandemic related spend unwinds, according to Drewry.
The pace of container port capacity expansion is forecast to contract at least 40% over the next five years in the wake of the COVID-19 induced slowdown in port throughput, according to Drewry.
The current officer shortfall to crew the global merchant fleet is forecast to widen, despite the dampening effect of Covid-19.
Drewry Maritime Financial Research Services, the investment research arm of global shipping consultancy Drewry, is pleased to announce the launch of a special report into the financial health of the global container shipping industry.
Container shipping lines’ ability to provide cargo space as needed showed a marginal improvement in 2019, but this gain will have been dramatically reversed by the end of the first half of this year.
Drewry is delighted to report that its exclusive online ocean freight cost comparison service for freight forwarders and NVOCCs has achieved a significant participation milestone, with global coverage now extending to over 4,000 port pairs.