Typical ship operating costs accelerated moderately in 2018 as the uncertain recovery in freight markets across most cargo sectors gained momentum.
Average daily operating cost across the 46 different ship types and sizes covered in the report rose 1.1% in 2018, succeeding the previous year’s rise of 0.7%, according to Drewry. This followed a period in which opex spending contracted over two consecutive years by almost 9% in 2015-16.
Earlier years witnessed sharp reductions in opex as the depressed state of shipping markets forced operators to slash costs as a means for survival. But as freight markets started to recover in 2017 so the pressure to reduce expenditure lifted.
