Drewry: cargo ship operating cost to rise

The cost of operating cargo ships is expected to increase in 2017 and beyond, shipping consultancy Drewry has claimed.

In its Ship Operating Costs Annual Review and Forecast 2016/17 report, the analyst argued that while the cost of operating cargo vessels fell for two consecutive years, the room for additional significant cost reductions is limited.

According to Drewry, the average decline in total ship operating costs among 44 different vessel types and sizes covered in its assessment amounted to 4.4% in 2016.