Wages bill hikes raise vessel operating costs

SOARING wage costs were responsible for vessel-operating costs jumping by a record close to 16% in 2008, according to the latest OpCost 2009 report by shipping accountants Moore Stephens. The figures cover the 2008 calendar year.

Its annual analysis of ship-operating costs across a range of ship types revealed an average 15.8% increase.
Within that overall figure, wage costs surged by 21.4%, the highest since the first OpCost survey in 2000 and more than double...

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