Nigel Gardiner News

The cost of operating cargo ships is forecast to rise over the next two years after falling in 2015, according to the latest Ship Operating Costs Annual Review and Forecast 2015/16 report published by global shipping consultancy Drewry. The average decline in ship operating costs across the sectors covered in the report in 2015 was one percent, but for ships that are big consumers of lube oils, the decline in overall costs was closer to two percent. Weak freight markets have forced ship owners to trim costs…

Judging by the findings of Drewry Maritime Research’s latest 'Ship Operating Costs Annual Review and Forecast' , ship operators were able to keep increases in operating costs in 2013 quite low – with increases in total costs typically ranging between 1.0-2.5% depending on the sector in question – despite 2013 being another difficult year for most. Commenting on the latest findings Nigel Gardiner, Managing Director, stated:

“Poor freight markets have forced ship operators to keep…

In a new 200-page report, Drewry Shipping Consultants analyses the facts and explodes some of the myths surrounding the future of this crucial sector. The lack of knowledge has led to some assessments that are cock-eyed or just plain wrong – sometimes dangerously so. But several things can be stated without equivocation. Firstly, the global orderbook is the biggest in history, creating a danger of long-term oversupply in several – perhaps most – industry sectors. The situation can be compared to the large tanker market in the early 1970s, where a glut of ordering skewed the market for decades. That mistake seems to have been repeated in recent years, only on a wider scale and across dry bulk and containerships as well as tankers. How many ships are needed?

Drewry Shipping Consultants, the world's leading maritime consultants, has released its latest special report entitled: “Floating Production Storage and Offloading (Offtake) unit (FPSO)”. Drewry analyses the origins of the industry in the 1970s and how it has progressed to present day, as well as predicting a future of growth. Drewry's positive outlook for the FPSOs market stems from extensive research, which identifies high oil prices and strong demand for oil as the key triggers for 'marginal oilfields' now becoming more attractive financially. “The FPSOs market has come a long way since its inception in the 1970s. Offshore technology was still in its infancy and the tanker market was struggling due to escalating oil costs caused by the Middle East conflict…