Annual Review and Forecast ·
Latest release 29 May 2019
Is seafarer supply matching the demand from today’s global fleet? Drewry Maritime Research’s Manning Annual Review and Forecast 2019/20 report tackles this critical question and sets out the facts concerning wage rates and terms of employment that dictate the cost of manning vessels today.
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 costs are expected to continue rising at a similar pace in 2020, according to Drewry’s latest Ship Operating Costs Annual.
With the enforcement date of the IMO 2020 low-sulphur regulation now only 6 weeks away, shippers and forwarders are starting to get their chequebooks out to help ocean carriers cover the additional cost of the cleaner, low-sulphur fuel.
Drewry and the European Shippers’ Council (ESC) have published a bunker adjustment factor indexing mechanism to help shippers monitor and control bunker charges in the run-up to and following the introduction of the IMO 2020 low-sulphur regulation.