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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Coast Guard

NATO Launches Sea Mission Against People-Smugglers

NATO, EU mission to help target traffickers in Aegean Sea. NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe,

Greeks at Frontline of Migrant Crisis Angry at EU Critics

ABOARD THE AGIOS EFSTRATIOS, Aegean Sea, Feb 11: Greek Captain Argyris Frangoulis lifts his binoculars and with eyes fixed on the Aegean Sea horizon, steers his

No Need to Change Tug Workers’ Hours -Study

The American Waterways Operators (AWO), the national trade association for the tugboat, towboat and barge industry, hailed a study conducted for the Transportation

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0691 sec (14 req/sec)