Ship operating expenses are set to rise this year and next, according to the most recent forecast from accounting firm Moore Stephens, with the cost for repairs and spares expected to see the most gains over the next 14 months.
Shipowners and managers in Europe and Asia reported an aggregate increase in vessel operating costs of 2% this year and 2.5% net year.
Most of the rise will stem from the costs of repairs and spares, which are expected to increase 1.7% this year and close to 2% next year. Drydocking expenses will increase 1.5% this year and almost 2% next year.
Richard Grenier, a partner in Moore Stephens, said drydocking costs will rise faster next year due to the entry into force of worldwide rules on ballast water management. Owners will be forced to reckon with the cost of installing ballast treatment systems on their next scheduled drydocking.
One respondent to the survey told Moore Stephens that the onset of ballast water management rules means “drydocking costs will increase significantly, depending on the type and size of ship involved.”
Other costs are only expected to see modest increases. Crew wages are expected to go up 1.3% this year and 1.8% next year, and lubricants costs will rise 0.8% and 1.4% for 2016 and 2017, respectively.
