Global shipping fleet operating costs exceed US$100 billion for the first time
2017-05-26 09:00
Clarksons research data shows that in 2017, the operating costs (OPEX) of the global freight fleet exceeded US\$100 billion for the first time, up from US\$98 billion in 2016. In 2008, the operating cost of the global freight fleet was US\$83 billion.
Clarksons points out that crew wages still account for the largest cost in fleet operating costs, reaching US\$43 billion. This money is allocated to 1.4 million crew members. Management fees account for the second largest proportion of crew operating costs, totaling US\$9.2 billion, followed by US\$7.7 billion in maintenance costs, and US\$5 billion in storage and lubrication costs. In addition, US\$4.6 billion was spent on insurance, US\$3.4 billion on Protection and Indemnity (P&I), and US\$3.2 billion on fixed supplies. At the same time, grocery costs consumed US\$4.3 billion, and other crew costs consumed US\$6.9 billion.
In recent years, due to the continuous spread of losses from the offshore marine engineering sector to the container shipping, dry bulk shipping, and tanker shipping industries, shipping operators are under considerable pressure to maintain competitiveness and reduce costs.
Clarksons points out that in order to make the shipping industry more intelligent, the collection and use of "big data", technology and automation continue to attract industry investment. The cost in this area (excluding ship operating costs) is clearly a significant target. Therefore, the shipping industry will require new technologies, skills, and new accounting methods.
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