MARITIME LAW AND COMMERCE: Operating costs expectations

Vessel operating costs may rise by 3% in year 2013

Ship operating costs may rise by 3% in the next two years, according to a new survey. The survey collected responses from key players in the global shipping industry, predominantly ship owners and managers in Europe and Asia.

Lube expenditure and crew costs have been identified as the categories most likely to produce the highest levels of increase. Lubricants have been identified as the cost category which may increase by 2.9% in 2012 and 2.8% in 2013.

Crew wages, meanwhile, may rise by 2.3% and 2.4% in 2012 and 2013 respectively, while other crew costs are expected to increase by 2.1% over the next two years under review.

"Ship operating costs increased by an average of 2.1% across all the main ship types in 2011, and that costs will rise by a greater margin in both 2012 and 2013," another survey noted.