Drewry has launched a steering group of shipmanagers to support the development of its flagship Ship Operating Costs Annual Review & Forecast report and to share best practice.

Members of the steering group are collaborating with Drewry to share confidential vessel operating costs data across their managed fleet in return for participation in Drewry’s benchmarking and best practice sharing services. Launch members include: Hong Kong’s Fleet Management; London-based V.Ships; Cyprus domiciled Columbia Shipmanagement; Wallem Group based in Hong Kong; Singapore-based Executive Ship Management, MSI Ship Management and Union Marine Management Services; and ASP Ships Group headquartered in Australia.

“The formation of the steering group enables Drewry to expand its sample size of vessel operational expenditure (opex) data across a wider range of ship types and sizes,” said Martin Dixon, director of research products at Drewry. “Information received from members will be combined with existing sourced data and audited against information published in the financial accounts of listed companies as well as Drewry subject matter expert review.”

Drewry has been publishing annual assessments of vessel operating costs for over 40 years in its flagship Ship Operating Costs Annual Review & Forecast report, which now covers 47 different vessel types and sizes across all the main cargo carrying segments. The method for deriving these assessments has developed over the years but has always been broadly holistic, combining data from vessel operators with information extracted from audited financial reports of listed companies and input from subject matter experts on particular cost heads or vessel types.