Drewry launches OpCost IQ: All-new vessel operating cost benchmarking tool
Drewry, the maritime industry’s leading independent research and advisory firm, today announced the launch of OpCost IQ, a new vessel operating cost benchmarking tool delivered via Drewry OnDemand. The platform transforms how maritime organisations benchmark vessel performance by combining Drewry’s trusted operating cost methodology with AIS-enabled operational analytics. The shipping industry…
Maritime research and advisory firm Drewry has introduced OpCost IQ, a groundbreaking vessel operating cost benchmarking tool available through Drewry OnDemand. This innovative platform merges Drewry's renowned operating cost methodology with advanced AIS-enabled operational analytics to revolutionize the way maritime organizations assess vessel performance.
As operating margins tighten within the shipping industry due to rising costs in crewing, maintenance, insurance, spares, lubricants and technical services, diverse vessel operating profiles compound the challenge of discerning cost performance. Traditional benchmarking methods typically concentrate on cost comparisons alone, but OpCost IQ addresses this limitation by integrating cost performance with operational context.
Dr. Ferenc Pasztor, Drewry's Head of Ports and Specialized Shipping Research, explains that the new tool empowers decision-makers to pinpoint and comprehend potential cost irregularities and inefficiencies across their operations. By providing shipowners, operators, technical managers, and finance professionals with a streamlined online workflow, OpCost IQ simplifies the process of benchmarking individual vessels or entire fleets against industry averages using Drewry's established operating cost framework.
Key features of OpCost IQ include:
- Confidential data handling and anonymous benchmarking
- The ability to benchmark single vessels or entire fleets
- AIS-derived deployment and utilization analysis for operational context
- Clarity and diagnostic insight into cost irregularities
- Actionable intelligence to support procurement negotiations, budget forecasting, and technical decisions
To access this cutting-edge tool, users must submit vessel data through an intuitive online interface. Drewry's specialists validate these submissions using predefined quality assurance procedures before comparing them against sector-specific datasets, relevant peer groups, and operational profile metrics. The platform is currently exclusive to Ship Operating Cost Annual Review 2025/26 clients, with each client receiving 10 complimentary credits to explore the benchmarking process, fleet-level opportunities, operational insights, and become familiar with the platform.
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