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Cost Benchmarking Tool News

16 Sep 2003

P&I Rises Hit Operating Costs

operating costs for most types of ship. have risen about 1.3 per cent overall for most ship types. made the most impact. costs down. largest ships seeing the largest percentage rise in operating costs. classes of vessels we report on as more owners contribute data. unique resource, and this year we have used it on some significant projects. paying out the right amounts or not. running costs of over 800 ships for the accounting year 2002. coastal vessels into tanker and dry cargo types. administration. inclusion. and voluntary contributors receive free reports. details within the database can be tailored to individual needs.

30 Nov 2001

Moore Stephens Focuses on Running Costs

Moore Stephens says shipowners have seen crew costs rise slightly and insurance costs fall dramatically over the past year. shows handysize bulk carrier crew costs up 6.9 percent, while insurance costs for the same ships fell 18 percent. Richard Greiner, director of research for Moore Stephens, says, "This is our second OpCost report, and it gives a very clear picture of how much shipowners and managers are spending, and where their money is going. OpCost is a vessel operating cost benchmarking tool exclusive to Moore Stephens. It allows owners, managers, lawyers and financiers to benchmark vessel-operating costs against a sample of actual vessels operating worldwide. sizes of tanker, dry cargo ships, container vessels, reefers and Ro/Ros. fees and sundries. annual report.

26 Sep 2002

Wages Push Up Operating Costs

Shipping accountant and business consultant Moore Stephens says a five per cent rise in crew wages last year has pushed up total operating costs for most types of ship. Unveiling OpCost 2002, Moore Stephens' operating cost benchmarking tool, Chris Chasty, head of the shipping group, says, "We have been able to see some clear trends in operating costs over last year. Almost all the ship types we cover have seen total costs rise, with the average about five percent. Increases in P&I costs and repair and maintenance bills also hit shipowners' operating costs, according to the report, although fluctuations for different ship types varied. The OpCost 2002 report is extracted from Moore Stephens' database of actual running costs of over 600 ships for the accounting year 2001.