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 August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Former CIA Spy Ship Becomes Victim of Oil Slump

A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices.   Christened the Hughes Glomar Explorer,

Greece Wants EU Funding to Tackle Migrant Influx

Greece will ask the European Union for about 700 million euros to build infrastructure to shelter the hundreds of refugees and migrants arriving on its shores daily, the government said on Thursday.

Asia-Europe Box Rates Soar Again

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from

Coast Guard

USCG AIS Mandate Resource Center Launched

McMurdo informs it has launched an online resource center at to help impacted vessel operators comply with the requirements of the United States Coast Guard (USCG)

USCG Hoists Ailing Man from Tug

A man believed to be suffering symptoms from a heart attack was medevaced from a tugboat Thursday morning.   A U.S. Coast Guard helicopter crew from Air Station Traverse City, Mich.

Fishing Vessel Sinks, Spills Oil in Alaska

A 58-foot fishing vessel ran aground, sunk and spilled oil in Sitka, Alaska, according to the U.S. Coast Guard. No injuries have been reported, and there have

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority 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: 0.4884 sec (2 req/sec)