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Increasing operating costs for owners

Vessel operating costs are expected to rise by 3.2 per cent in 2010 and by 3.5 per cent in 2011, according to a survey from the international accountant and shipping consultant Moore Stephens. Crew costs is the category most likely to produce the highest levels of increase.

Increasing operating costs for owners
22 November 2010 - 23:28

Vessel operating costs are expected to rise by 3.2 per cent in 2010 and by 3.5 per cent in 2011, according to a survey from the international accountant and shipping consultant Moore Stephens. Crew costs is the category most likely to produce the highest levels of increase.

 ”The survey is based on responses from key players in the international shipping industry, predominantly ship owners and managers in Europe and Asia. 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.”

 Besides increasing crew costs vessel owners will have to deal with higher costs for lubricants, repair and maintenance.

 ”The category deemed most likely to produce the lowest level of increases in both 2010 and 2011 was management fees, at 1.6 per cent and 1.8 per cent respectively.”

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