It is expected that the operating cost of ships will increase by 3.2% this year

Lloyd's Daily reported on November 1st that according to Moore Stephens, the cost of operating the ship will increase by 3.2% this year and will increase by another 3.5% in 2011.

A survey conducted by Moore Stephens estimates that a 2.7% increase in crew costs this year will lead to an increase in the operating costs of ships.

Earlier this month, the accounting firm announced its annual summary report (OpCost). This year, it increased its view on the development trend of future costs. The accounting firm publishes an annual summary report on the operating expenses and financial management performance of shipowners from an accounting professional perspective. This report has been regarded as an authoritative and unique benchmark for ship operating costs by the industry or the international shipping industry, and has a high reference value.

Based on the previous year's data for the 2010 annual summary report, the operating costs of all major ship types recorded in the previous year decreased. It is expected that operating costs will increase this year, while crew costs will lead to higher costs.

Ma Shiyun Certified Public Accountants said that in 2010 the cost of seafarers may increase by 2.7% in 2011 will increase by 3%.

It is expected that most items on the ship operating cost list will increase in the next two years. The cost of lubricants may increase by 2.4% and 2.7% respectively. Repair and maintenance costs may increase by 2.6% annually.

The survey revealed that respondents also learned that in 2010 and 2011, the cost of storage, Spare Parts, management fees, and insurance premiums for ships will also increase by 2.4% and 2.7% respectively.

Ma Shiyun Certified Public Accountants asked respondents to determine which factors are most likely to affect operating costs. The accounting firm's estimation of the future operating costs is based on the opinions of the respondents in the same manner as they did in the annual summary report. The main part of the response came from dry bulk carriers and tanker shipowners and managers in Europe and Asia.