Page 22: of Maritime Reporter Magazine (October 2019)

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BY THE NUMBERS

The total annual operating costs in the shipping industry fell by an average of

Ship Operating Costs Drop Again 1.8% in 2018, compared to the 1.3% fall for 2017, according to a recent report – OpCost 2019 –from international ac- countant and shipping consultant BDO.

All categories of expenditure in 2018 were down overall on those for the previous 12-month period, with the exception of repair and maintenance.

On a year-on-year basis, the tanker index was down by 4 points, or 2.4%, compared to the 3 points (1.7%) fall the previous year. The bulker index, meanwhile, fell by 4 points, or 2.6%, compared to the 3 points (1.9%) fall re- corded in last year’s OpCost. The con- tainership index was down by 2 points, or 1.3% – identical to the fall recorded for the previous 12 months.

There was a 1.1% overall average de- crease in 2018 crew costs, compared to the 2017 ? gure of 0.1%. By way of com- parison, the 2008 report revealed a 21% increase in this category.

Tankers overall experienced a fall in crew costs of 1.8% on average, com- pared to the 0.5% fall recorded last year.

All categories of tankers reported a re- duction in crew costs for 2018 with the

Business news you can trust exception of Panamax Tankers, which and advertising recorded an increase of 0.1%, compared to a reduction for 2017 of 0.7%. The results you can count on.

most signi? cant reduction was the 2.7% recorded by Aframax Tankers, which

We have you covered in every also recorded the biggest reduction in sector of the industry.

2017 at 1.7%.

For bulkers, meanwhile, the overall average fall in crew costs in 2018 was

The Maritime Media Network’s diverse 1.1%, compared to 0.6% recorded for portfolio of publications includes: the previous year. As was the case in 2017, there was zero overall increase in

Maritime Reporter & Engineering News, expenditure on crew costs in the con-

Marine News and tainer ship sector in 2018.

Marine Technology Reporter

Expenditure on stores was down by 4.9% overall, compared to the fall of

Reaching a total average circulation of 114,930, these four publications reach decision makers all over the maritime industry, are audited by BPA, and are only available in the Maritime Network. 22 Maritime Reporter & Engineering News • OCTOBER 2019

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