Ship Operating Costs Continue to Rise

Tuesday, September 25, 2007
OpCost 2007, Moore Stephens unique ship operating cost benchmark, reveals that all vessel categories covered by the report experienced an annual average increase of 8.5 per cent in total operating costs in 2006, the financial year covered by the survey, and that, generally, the increases were more marked than in the previous year. The OpCost bulker index increased by thirteen index points (10.7 per cent) on a year-on-year basis, with handymax bulkers recording the biggest increase (14.8 per cent) in 2006. The tanker index, meanwhile, experienced an index rise of twelve points (9.1 per cent). For the first time this year, OpCost includes a container ship index. This, using 2002 as its base year, showed a rise of thirteen index points (10.8 per cent) in operating costs in 2006. While expenditure on repairs and maintenance was up by an average of 9.7 per cent across all vessel categories, the biggest percentage increase - a hefty twenty per cent - was recorded in respect of stores. Elsewhere, insurance and crew costs were down on the double-digit increases recorded in both categories in OpCost 2006, but still showed percentage rises of 7.9 and 7.6 respectively. Once again, there were wide variations between different vessel types in both categories.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Asia-N.Europe Box Rates Jump 26 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday,

Greek Coastguard Rescues 2,500 over Three Days

Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the

CMA CGM 2Q Post Higher Profit

In the second quarter, CMA CGM demonstrated the strength of its business model by significantly outperforming the market, despite a sharp fall in freight rates

Coast Guard

Cargo Ship Collides with Fueling Vessel at Sea

A 24-meter fuelling vessel, Erin Wood, was towed to Peterhead Saturday after a collision with a Cyprus registered cargo vessel, Daroja, the U.K. Maritime and Coastguard Agency (MCA) reported.

Greek Coastguard Rescues 2,500 over Three Days

Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the

Hurricane Ignacio Will not Affect Hawaiian Port Operations

The Coast Guard Captain of the Port continues to closely monitor the movement of Hurricane Ignacio and based on the storms current trajectory to the northwest

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1233 sec (8 req/sec)