Opcost Benchmarking Tool News

According to Moore Stephens LLP, a shipping and insurance adviser, vessel operating costs are expected to rise by 3.2 per cent in 2010 and by 3.5 per cent in 2011, with crew costs identified as the category most likely to produce the highest levels of increase, according to a new survey by international accountant and shipping consultant Moore Stephens. The survey is based on responses from key players in the international shipping industry, predominantly ship owners and managers in Europe and Asia. And those responses revealed an overall expectation that crew costs would rise by 2.7 per cent in 2010 and by 3.0 per cent in 2011. “It’s all about crew,” noted one respondent. “With fewer experienced crew available for worldwide fleet expansion, labour costs will rise”.