Lube Oil Costs News

Total annual operating costs in the shipping industry fell by an average of 1.1 percent in 2016, says international accountant and shipping consultant Moore Stephens. This compares with the 2.4 percent average fall in costs recorded for 2015. For the second successive year, all categories of expenditure were down on those for the previous 12-month period, most notably for insurance costs and stores. The findings are set out inMoore Stephens’ ship operating costs benchmarking tool OpCost 2017…

Vessel operating costs are expected to rise in both 2016 and 2017, according to the latest survey by international accountant and shipping consultant Moore Stephens. Repairs and maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. Those responses revealed that vessel operating costs are expected to rise by 1.9 percent in 2016 and by 2.5 percent in 2017.

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015. This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators, as well as a reduction in active trading for some owners as a result of the prolonged worldwide economic downturn.

Total annual operating costs in the shipping industry fell by an average of 0.8 percent in 2014, said international accountant and shipping consultant Moore Stephens. This compares with the 0.3 percent average fall in costs recorded for 2013. All categories of expenditure were down on those for the previous 12-month period, confirming that ship owners and operators continued to manage costs sensibly and to watch their cash carefully in 2014. The findings are set out in OpCost 2015…

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.

The offshore supply vessel market remains as competitive as ever, with companies attempting to lure customers with the best possible value for their day rates and other appealing offers. Hornbeck Offshore Services Inc., Mandeville, La., found a simple answer to stay ahead of the competition: build a well-designed fleet and equip it with the best technology you can afford. "It's that simple," says Carl Annessa, Hornbeck vice president of operations. "Customers want to contract boats that get the job done for the best value. Hornbeck Offshore owns a fleet of seven offshore supply vessels (OSVs) that are contracted to oil companies for oil exploration and production services, as well as drill rig support in deep water.

per cent in their total operating costs, compared to the previous year. crew costs. to upgrade their ships. bulk carrier sector. keep a tight rein on costs. overall 1.2 per cent on the previous year. significant variations across different vessel types. expenditure on repairs and maintenance. becoming beautiful. actually down on last year, it still came in at an average 9.2 per cent. remains a premium for experienced, specialist crew. was recorded in respect of insurance. the market, recorded the biggest increase, at 31.2 per cent. have gained some courage from a series of big losses. significant general increases. 2005. This year's report covers the twenty most common vessel types. and administration. since last year and information on dry-docking costs and duration.

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.

MAN B&W Diesel A/S, Denmark, has been awarded the contract to supply a complete propulsion package, including computer controlled surveillance, for Dalian Maritime University’s new 2250-ton ocean-going training ship. As the largest maritime university in China, Dalian Maritime University (DMU) enjoys a high reputation internationally as a centre of excellence for maritime education and training. The DMU is made up of 12 colleges and 4 departments and has approximately 15,000 students. Since 1953, DMU has trained over 40,000 highly competent personnel, the majority of whom have become the backbone of the navigation sector. Sales Manager…

MAN B&W Diesel A/S, Denmark, has been awarded the contract to supply a complete propulsion package, including computer-controlled surveillance, for Dalian Maritime University’s new 2250-ton ocean-going training ship. As the largest maritime university in China, Dalian Maritime University (DMU) enjoys a high reputation internationally as a center of excellence for maritime education and training. The DMU is made up of 12 colleges and 4 departments and has approximately 15,000 students. Since 1953, DMU has trained over 40,000 highly competent personnel, the majority of whom have become the backbone of the navigation sector. Sales Manager…