Vessel operating costs expected to rise
Vessel operating costs are expected to rise by more than 3% in both 2013 and 2014 according to a new survey by the international accountant and shipping consultant Moore Stephens. The three factors identified by respondents to be most likely to influence the level of vessel operating costs over the next twelve months were finance costs (21% of respondents), crew supply (20%) and competition (18%). Next came demand trends (16%) and labour costs (13%). The cost of raw materials was also cited by 10% of respondents as a factor that would account for an increase in operating costs.
The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia.