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Vessel costs to rise

World Maritime News
Wednesday, November 01, 2017

Vessel operating costs are expected to increase in both 2017 and 2018, according to the latest survey by international account 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, based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia, revealed that vessel operating costs are likely to rise by 2.1 per cent in 2017 and by 2.4 per cent in 2018.

The cost of repairs and maintenance is expected to increase by 2.0 per cent in both 2017 and 2018, while expenditure on spares is predicted to rise by 2.0 per cent in 2017 and by 1.9 per cent in 2018.

Drydocking expenditure, meanwhile, is expected to increase by 1.7 per cent and 1.8 per cent in 2017 and 2018 respectively. The survey revealed that the outlay on crew wages is expected to increase by 1.7 per cent in each of the years under review, with other crew costs thought likely to go up by 1.6 per cent in 2017 and 1.5 per cent in 2018.

The increase in expenditure for lubricants is expected to be 1.6 per cent in both 2017 and 2018.

Meanwhile, projected increases in stores are 1.5 per cent and 1.7 per cent in the two years under review, while management fees are expected to rise by 0.7 per cent and 1.0 per cent in 2017 and 2018 respectively.

The cost of hull and machinery insurance is predicted to rise by 0.5 per cent and 1.0 per cent in 2017 and 2018 respectively.








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