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NEW Format Report for easier data access and improved benchmarking opportunities

With major economies staggering back on their feet, and over-capacity pushing down shipping rates and margins, ship operating costs have taken on a greater significance than ever before.

Drewry's latest Annual Report is timely, providing in-depth assessments of costs across the major cost headings. Its new, more user-friendly format makes it a valuable reference for fleet owners, operators, managers and financiers  alike.

Key cost heads covered:

• Manning
• Insurance
• Repairs and Maintenance
• Stores and Lubes
• Drydocking
• Administration

The Report focuses on each of the key fleet sectors - by vessel type and size - thus bringing together all relevant metrics in one place.

Includes detailed Operating Budgets for a range of oil tankers, chemical tankers, gas carriers, dry bulk vessels, container vessels, Ro-Ro general cargo and reefer vessels.

Cost intelligence is the smart route to business advantage - Order your copy today

1.  Executive summary
     •   General overview
     •   Manning
     •   Insurance
     •   Repairs and Maintenance
     •   Stores and lubes
     •   Management & Administration

2.  Cost heads
     •   Manning
     •   Main manning cost strands
     •   Labour overview and manning numbers
     •   Seafarer supply scene
     •   Preparing manning costs and budgets
     •   Currency issues
     •   Manning budgets/man-berth ratio
     •   Manning considerations
     •   Manning costs
     •   Direct costs
     •   Wage costs
     •   Travel costs
     •   Onboard victualling
     •   Training
     •   Union fees
     •   Indirect budget costs
     •   Sample wage costs
     •   Sample ship costs
     •   The future
     •   Insurance
     •   Main insurance cost strands
     •   Hull and Machinery (H&M) insurance
     •   Vessel values
     •   Recent H&M rating experience
     •   Protection and Indemnity (P&I) cover
     •   Financial performance of the mutuals
     •   General increases and deductibles
     •   Reinsurance and the pool
     •   Excess loss reinsurance
     •   Other insurance relevant to today’s market
     •   Freight Demurrage and Defence (FDD)
     •   War risk insurance
     •   Cost trends and developments
     •   Repairs and maintenance – including drydocking
     •   Repair work demand influences
     •   Routine onboard maintenance
     •   Shiprepair market – demand influences
     •   Fleet developments
     •   Current expectations
     •   Shiprepair market – supply influences
     •   Shiprepair market – cost influences
     •   Implications for steelwork pricing
     •   Tariffs and pricing
     •   Diversion and opportunity cost
     •   Cost trends and developments
     •   Stores and lubes
     •   Process and procedures … purchasing or procurement
     •   Main stores and supplies budget elements
     •   Main budget items
     •   Lubricating oils (lubes)
     •   Lube market price drivers
     •   Paints, coatings and anti-foulings
     •   Important price drivers
     •   Cost trends and developments
     •   Management and administration
     •   Management and strategy
     •   Risk management
     •   Commercial shipmanagement
     •   Pools and consortia
     •   The forward markets
     •   Technical shipmanagement
     •   Regulatory issues … old and new
     •   Ship registry
     •   Cost developments

3.  Oil tankers

4.  Chemical tankers

5.  Gas carriers

6.  Dry bulk vessels

7.  Container vessels

8.  Others vessels

Appendices
     •   Tankers – vessel operating costs
     •   Chemical – vessel operating costs
     •   LPG / LNG – vessel operating costs
     •   Dry bulk – vessel operating costs
     •   Container – vessel operating costs
     •   Other – vessel operating costs
     •   Definitions

Tables
     •   Total operating costs – 2009
     •   Total operating costs – 2007-2014
     •   Daily operating costs – 2009
     •   ITF uniform “TCC” collective agreement
     •   IBF wage scales
     •   Sample dry cargo vessel wage rates for selected countries
     •   Sample tanker wage rates for selected countries
     •   Recent H&M rating experience
     •   Indicative Lloyd’s marine results
     •   IG clubs’ performance and free reserves
     •   IG clubs’ standard surcharge performance
     •   Excess loss reinsurance rates
     •   JWC hull war, strikes, terrorism and related perils – listed areas
     •   MR1 product tanker: coated – operating budget
     •   LR1 product tanker: coated – operating budget
     •   LR2 product tanker: coated – operating budget
     •   Aframax tanker – operating budget
     •   Suezmax tanker – operating budget
     •   VLCC tanker – operating budget
     •   Drydocking – budget costs
     •   Chemical tanker: 1,500-5,000 dwt – operating budget
     •   Chemical tanker: 5-10,000 dwt – operating budget
     •   Chemical tanker: 20-30,000 dwt – operating budget
     •   Chemical tanker: 30,000 dwt chemical tanker – operating budget
     •   Drydocking – budget costs
     •   LPG 3-5,000 cbm: semi-refrigerated – operating budget
     •   LPG 6-8,000 cbm: semi-refrigerated – operating budget
     •   LPG 12-15,000 cbm: semi-refrigerated – operating budget
     •   LPG 30-35,000 cbm: fully-refrigerated – operating budget
     •   LPG 50-55,000 cbm: fully-refrigerated – operating budget
     •   LPG 75-80,000 cbm: fully-refrigerated – operating budget
     •   LNG carrier 140-150,000 cbm – operating budget
     •   Drydocking – budget costs
     •   Handy size vessel (10-35,000 dwt) – operating budget
     •   Handymax vessel (40-50,000 dwt) – operating budget
     •   Supramax vessels (50-60,000 dwt) – operating budget
     •   Panamax vessel (60-80,000 dwt) – operating budget
     •   Post Panamax vessel (80-110,000 dwt) – operating budget
     •   Capesize vessels (110-210,000 dwt) – operating budget
     •   Very large ore carriers (VLOC) – operating budget
     •   Drydocking – budget costs
     •   Containership: 500-700 teu – operating budget
     •   Containership: 1-2,000 teu – operating budget
     •   Containership: 2-3,000 teu – operating budget
     •   Containership: 3-4,000 teu – operating budget
     •   Containership: 5-6,000 teu – operating budget
     •   Containership: 8-9,000 teu – operating budget
     •   Containership: 10-12,000 teu – operating budget
     •   Drydocking – budget costs
     •   General cargo: 5-10,000 dwt – operating budget
     •   General cargo 15-20,000 dwt – operating budget
     •   Ro-Ro carrier: 10,000 dwt – operating budget
     •   Reefer carrier: 550,000 cft – operating budget
     •   Drydocking – budget costs

Figures
     •   Evolution of total operating costs: total operating costs
     •   Evolution of total operating costs: manning
     •   Evolution of total operating costs: insurance
     •   Evolution of total operating costs: R&M
     •   Projected officer demand in 2013, incorporating contingencies
     •   Projected seafarer supply/demand imbalances, 1990-2013
     •   Change in US$ parity: % change June 2010 v June 2009
     •   Typical onboard numbers by vessel type
     •   Relative currency strength of major seafaring supply countries v US$
     •   Trend in secondhand tanker values
     •   Trend in secondhand bulk carrier values
     •   Tanker newbuilding prices
     •   Bulk carrier newbuilding prices
     •   Tanker values - annual average
     •   Bulk carrier values - annual average
     •   International Group reinsurance programme 2010-2011
     •   World fleet development, start of year
     •   Trend in Asian steel plate prices
     •   Illustrative diversion cost implications - Panamax bulk carrier
     •   Illustrative diversion cost implications – VLCC
     •   Indicative US dollar parity considerations
     •   Trend in price averages, 1997 v 2000 v 2009
     •   Indicative crude oil price trends
     •   Copper and zinc price trends
     •   Administrative functions and cost areas
     •   Recent trends in reported FFA activity
     •   Tanker operating cost changes
     •   Daily operating costs 2009: oil tankers
     •   One year time charter rates
     •   Secondhand prices
     •   Tanker fleet forecast
     •   Oil tanker newbuilding prices
     •   Newbuilding and secondhand
     •   Orderbook
     •   Tanker fleet age profile: MR1
     •   Tanker fleet age profile: LR2
     •   Tanker fleet age profile: Aframax
     •   Tanker fleet age profile: Suezmax
     •   Tanker fleet age profile: VLCC
     •   Chemical operating cost changes
     •   Daily operating costs 2009: chemical carriers
     •   One year time charter rates
     •   Newbuilding prices
     •   Chemical carrier fleet forecast
     •   One year time charter
     •   Secondhand prices
     •   Orderbook
     •   Chemical tanker fleet age profile: 1-5,000 dwt
     •   Chemical tanker fleet age profile: 5-10,000 dwt
     •   Chemical tanker fleet age profile: 10-20,000 dwt
     •   Chemical tanker fleet age profile: 20-30,000 dwt
     •   Chemical tanker fleet age profile: 30-40,000 dwt
     •   Chemical tanker fleet age profile: 40,000+ dwt
     •   Gas carrier operating cost changes
     •   Daily operating costs 2009: gas carriers
     •   One year time charter rates
     •   LPG prices
     •   LPG fleet forecast
     •   LNG time charter rates
     •   LNG fleet forecast
     •   LPG orderbook
     •   LPG carrier fleet age profile: 1-5,000 cbm
     •   LPG carrier fleet age profile: 5-12,000 cbm
     •   LPG carrier fleet age profile: 12-25,000 cbm
     •   LPG carrier fleet age profile: 25-50,000 cbm
     •   LPG carrier fleet age profile: 50-70,000 cbm
     •   LPG carrier fleet age profile: 70,000+ cbm
     •   Dry bulk operating cost changes
     •   Daily operating costs 2009: dry bulk
     •   One year time charter rates
     •   Newbuilding prices
     •   Dry bulk fleet forecast
     •   Dry bulk vessels TCE rates
     •   Secondhand prices
     •   Orderbook
     •   Dry bulk fleet age profile: Handysize
     •   Dry bulk fleet age profile: Handymax
     •   Dry bulk fleet age profile: Panamax
     •   Dry bulk fleet age profile: Post Panamax
     •   Dry bulk fleet age profile: Capesize
     •   Dry bulk fleet age profile: VLOC
     •   Container operating cost changes
     •   Daily operating costs 2009: container
     •   Time charter rates
     •   Newbuilding prices
     •   Container fleet forecast
     •   Container throughput changes
     •   Secondhand prices
     •   Orderbook
     •   Container fleet age profile: Feeder
     •   Container fleet age profile: Handysize
     •   Container fleet age profile: Intermediate
     •   Container fleet age profile: Panamax
     •   Tanker fleet age profile: Post Panamax
     •   Tanker fleet age profile: Large
     •   General cargo operating cost
     •   Daily operating costs 2009
     •   Multipurpose fleet forecast
     •   Reefer 450,000+
     •   Age profile: Reefer
     •   Timecharter rates of MPVs

Drewry's new format Annual Report on Ship Operating Costs is a major improvement in presenting shipping intelligence.

Our clients told us what they wanted from a report like this - more numbers, fewer words. We took your advice.

As a result, this Report is significantly different from previous editions... more tables, charts and graphs, less textual content. But what you get will detail developments, trends, policies and operational practices along with their main drivers.

Just as importantly, there is comprehensive cost analyses for specific vessel types and sizes - Tanker (including Chemical), Dry Bulk, Gas (LNG, LPG), Container and Other (General Cargo, Reefer, Ro-Ro).

In a nutshell, our new Ship Operating Costs Report offers more scope to benchmark your costs. Against each cost head, we provide data allowing you to re-evaluate your position over time. 

Cost heads in summary:

Manning - includes full labour overview and manning numbers with seafarer supply data. Plus preparing manning costs and budgets - the importance of man-berth ratios, through to the ILO, international wage rates, conditions and contracts of employment across different regions.

Insurance - H&M insurance, P&I cover, changing vessel values, regional variations, financial performance of the mutuals, reinsurance and the pool, freight demurrage and defence and much more.

Repair, Maintenance and Dry-Docking - repair demand influences, onboard maintenance, lay-up preparation and reactivation, the ship repair market with demand/supply influences, steel price volatility, regional price differences, currency considerations etc.

Stores and Lubes- purchasing vs procurement, lubes and lube market price drivers, crude oil prices, technology and low-sulphur requirements, paintings, coatings and anti-fouling, prices and cost trends, yet more.

Management and Administration - developing management strategies, containing risk, functions and cost areas, pools and consortia, regulatory issues plus, plus....


PLUS - Vessel cost development - intel by vessel type and size - Tanker, Chemical, Dry Bulk, Gas, Container, General Cargo, Reefer and Ro-Ro.