Ship operating costs continue to fall
Ship operating costs are now in accelerating decline for the seventh year in succession, said the accountant and shipping consultant BDO. Total annual operating costs in the shipping industry fell by an average of 1.8% in 2018, compared to the 1.3% decline in 2017.
All categories of expenditure in 2018 were down overall on those for the previous twelve months, with the exception of repairs and maintenance costs. On a year-on-year basis, the container ship index was down by 2 points, or 1.3% - identical to the drop recorded for the previous 12 months. There was a 1.1% overall average decrease in 2018 crew costs, compared to the 2017 figure of 0.1%.
By way of comparison, the 2008 report revealed a 21% increase in this category. With the exception of vessels of between 2,000 and 6,000 teu, all categories of container ships recorded a fall in crew operating costs in 2018. In the case of ships between 6,000 and 10,000 teu, the decrease was 2.7%. (fd)