Cost of vessel operations rising, says Moore Stephens
Vessel operating costs are expected to rise in both 2017 and 2018, according to the latest survey by the shipping consultant Moore Stephens. Repairs, maintenance and spares are the cost categories which are likely to increase most significantly in both years.
The responses from key players in the international shipping industry to the study, predominantly shipowners and managers in Europe and Asia, revealed that vessel operating costs are likely to rise by 2.1% in 2017, and by 2.4% in 2018.
The cost of repairs and maintenance and expenditure on spare parts is expected to increase by 2% in both 2017 and 2018, while the outlay for drydocking is predicted to surge by 1.7% and 1.8% in 2017 and 2018, respectively.
The survey revealed that the crew wage cost is expected to increase by 1.7% in each of the years under review, while other crew costs are likely to go up by 1.6% in 2017, and by 1.5% in 2018. (kd)