New research released by shipping consultancy Drewry’s Ship Operating Costs indicates that 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. Drewry estimates that average daily operating costs across the 47 different ship types and sizes covered in the report jumped 4.5% in 2020, compared to underlying increases of 2% and 2.5% respectively in the previous two years. This followed a period in which opex spending stagnated or contracted over three consecutive years by 8% in 2015-17.
