As part of a series of initiatives aimed at bringing greater transparency to fuel costs resulting from the new IMO 2020 low-sulphur regulation, Drewry is pleased to announce the publication of its first low-sulphur reference bunker index tracker.
Underlying vessel operating cost inflation accelerated moderately in 2019 on higher repair & maintenance and insurance spend, while looking ahead costs are expected to continue rising at a similar pace in 2020 on a hardening insurance market before receding in subsequent years, according Drewry.
Drewry and the European Shippers’ Council publish a bunker adjustment factor indexing mechanism for shippers’ reference and guideline.
The mood-music surrounding the container market has deteriorated further in the last three months, resulting in Drewry downgrading its outlook for world container port throughput for the current year.
Online technology platforms where shipping lines and their customers can negotiate forward contracts could help improve vessel utilisation levels and reduce freight rate volatility, according to Drewry and CyberLogitec.
Car carrier shipping is expected to continue its slow recovery, supported by improving utilisation and minimal vessel ordering.
The outlook for global container port demand is modest growth and numerous uncertainties, but in the face of this, capacity expansion plans are also muted.
Smart devices have the potential to radically transform the utility and value of shipping container equipment assets, according to Drewry’s latest Container Census & Leasing Annual Review & Forecast 2019/20 report.
Key US ports, leading global container lines and specialist car carriers will all be adversely impacted should the proposed US auto tariffs be implemented in the second quarter of 2019, according to Drewry.