News / Shippers face higher costs as box lines take new emission targets on board

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European shippers should ready themselves for a hike in container shipping costs, as vessel operating and fuel costs are set to rise substantially.

Analyst Drewry says it expects ship operating costs to rise by 2-3% per year in the next few years, after keeping costs pegged back to a bare minimum of 1% in some sectors in 2013 against a backdrop of weak freight earnings.

Drewry said new international maritime conventions on safety, manning and the environment were placing “upward pressure on ...