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If it wasn’t bad enough that demand in the shipping markets has not recovered, commodity price rises have put more than a little pressure on ship operating costs. Fleet owners and managers are certainly feeling the squeeze in 2011.
Drewry has just published its latest annual analysis of ship operating costs, covering 8 vessel sectors and over 35 different sizes of vessel plus detailed operating budgets for a range of oil tankers, chemical tankers, gas carriers, dry bulk vessels, container vessels, ro-ro, general cargo and reefer vessels; making it the most comprehensive survey of this crucial area of vessel management.
Paula Puszet, managing editor commented, “In 2010, vessel operating costs overall remained static. However, in 2011 commodity price increases will push up lube, repair and maintenance costs. With some owners having to take additional insurance cover for kidnap and ransom, overall costs are forecast to rise by between 4% and 6%, depending upon vessel sector.”
- Manning – the key change here is that low market demand has kept wage levels down across the globe. This has also had the effect of narrowing the gap between demand and supply for experienced seafarers... a continual problem over the last few years. However, as more new-builds come on stream, the gap will no doubt widen again forcing wages up.
With the next STWC round as well as ILO MLC regulations cutting in next year, owners and managers will come under wage and staff cost pressure – particularly in the areas of travel, training and victualing.
- Insurance - in H&M, premiums have barely risen. Vessel values have become more stable following the drop in recent years, the outlook points to premiums rising to reflect the pressures the insurance market will find itself under following non-marine related claims, such as the earthquakes in New Zealand and Japan.
Complete Post at:
http://www.marinelink.com/news/operating-pressure340042.aspx
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