Register in seconds and access exclusive features. Hence, we expect the pressure on costs to remain which will dampen any likely inflation, but decarbonization regulations will add to owner cost burdens over the medium term. In other words, there is a range of ship sizes that generate lower unit costs. Different ship registries have different tax regimes and tax burdens for shipowners. The most common surcharges that Maersk Line imposes are the BAF, THC, and documentation charges (a service that the shipping line provides with the necessary transport documents at the origin and destination based on the shippers shipping instructions). Thereafter, we expect opex inflation to return to past trend, rising below the general rate of price inflation and so representing cost stagnation in real terms, although there will be variations by cost head.. Staff departments like human resources, accounting, office services, and information technology are noncore segments of a business that support (96 great interview questions to ask before you hire), This strategy delivers better margins and thus a higher return (see Table 2.4). This compared to increases of 2-2.5% in the two prior years and a net 8% decline in operating costs over 2015-17. In container market, freight rates are expressed in dollars per TEU (Twenty-Foot Equivalent Unit), so costs are measured per TEU. Oceania Business Plaza Tower 2000 But spend declined in stores and repair & maintenance (R&M) as some Covid-19 related costs unwound and vessels had limited downtime for maintenance work during the year. If shipowner makes no profit in a particular year, shipowner is not liable for corporation tax. The latest assessments include vessels in the container, chemical, dry bulk, oil tanker, LNG, LPG, general cargo, reefer, roro and car carriers sectors. There are limits to cost cutting, beyond which the safety of the vessel and crew are put at risk, and as freight markets have recovered so pressure to reduce spend has lifted leading to modest acceleration in cost inflation. In average construction costs, there is significant technical economies of scale when purchasing larger ships. At the beginning, shipowners were flagging out for tax reasons. As some pandemic related costs have unwound and seaborne trade recovered average opex spend has risen moderately in 2021, said Latifat Igbinosun, head of vessel opex research at Drewry. Benchmarking ocean freight contract rates, Ship Operating Costs Annual Review and Forecast 2020/21, Drewrys Ship Operating Costs Annual Review and Forecast 2020/21. F=X|~Nvl|%;{Th! According to OECD estimates, shipowners can save 13% on the annual running cost for the dry cargo ship and 15% for product carriers. Chart. Comment document.getElementById("comment").setAttribute( "id", "ace51a1f83cf2d3f7f5ed4ce1ca7f29e" );document.getElementById("c08a1a06c7").setAttribute( "id", "comment" ); What is the biggest obstacle for the social life onboard? These are the items which do not vary with ship use, but are essentially incurred in the running vessel. Long-Run Ship Costs and Economies of Scale. Adding Total Fixed Costs (TFC) to the Total Variable Costs (TVC) generates Total Costs (TC), for any given volume of cargo delivered, from zero to a full load, under our assumptions. For example, Liberian flag levied no tax on profits but subscription tax based on the registered tonnage of the ships. 0000006907 00000 n Like Bunker Costs, Port Dues, Canal Dues, Pilotage, Towage, Cargo Loading/Discharging Costs (if it is on owners account), Crew Provisions. Ship may loss of ship maneuverability and steerability below lower end of design speed and after top end speed may discomfort the crew. On the other hand, when ship size increases, capital costs increase. The values are an average of the five business days of the last full week in each month. When leakages are reported and arrested. In the dry cargo sector, Chinas demand for coal, iron ore and steel to record levels, push the dry bulk carrier size as large as 400,000 DWT. The main expenditures is bunker cost which determined by the fuel consumption of the ship. Higher the inventory cost, the smaller the optimum ship size. The reference for hurdle rate is the cost of capital of the bank. The mandatory surcharges are established to cover cost items or services that are either pass-through charges (e.g. Total Variable Cost (TVC) increases but Average Variable Cost (AVC) is constant. You need a Statista Account for unlimited access. 0000007445 00000 n Average Fixed Costs (AFC) and Average Variable Costs (AVC). Variable Costs (VC) will be voyage-related costs such as bunker consumption, both at sea and in port, must be accounted for. A BAF is a charge to account for the price fluctuations of the bunker fuel used by the ships. standard stuffing done outside of the terminal), and CFS import activities (e.g. Did you know how many Bulk Carriers were detained in Paris MoU? Other things being equal, larger the proportion of time a ship spends in port per year, the smaller its preferred size such as coaster ships and feeder ships. Increase in tanker sizes in the 1970s can be explained by: Average tanker voyage distances increased rapidly with the closure of the Suez Canal in 1967. 0000015320 00000 n Liner shipping company will have a main terminal (hub), to and from which the containers are distributed to the other ports (spokes). 0000001591 00000 n If ship depreciation rate is accelerated, then shipowner stands to benefit from a larger offset in taxation over a short-period of time. In other words, there may be a point at which the potential cost savings from using a larger ship when at sea are more than offset by the higher costs involved with the same ship sitting idle in port. Increased ship size means increased draught, beam and length. In the short run period, Marginal Cost (MC) must be related to Variable Costs (VC), since by the definition of short run period, Fixed Costs (FC) cannot be altered. Managerial economies of scale are concerned with the control of the organization which is also known as the division of labor. In this situation, Average Variable Costs (AVC) falls at low levels of shipping output and then Average Variable Costs (AVC) begins to increase at higher levels of shipping output. Flagging out gave shipowners the opportunity to reduce operating costs in 1980s shipping recession by employing cheaper crews. Formally expressed in a model of ship costs has three (3) elements: Here above model ignores cargo loading and discharge costs when it is on shipowners account. uuid:33e690cf-2c06-4a4f-ac19-d0ed2ef32153 application/pdf For example, daily overhead costs attributed to 200,000 DWT capsize bulk carrier have been calculated by shipowners as being $15,000 a day. xb```VE ce`aXdRsj8{7}m:!qt+v8Lb`x.e4W;c$$;kIWvl,"27Y'rS[4jfH3)vs68Sq\X3' FK)= Il9fQ. When ship is in port, daily capital and operating costs must be covered. Round trip from Rotterdam to New York takes 20 days. 0000003275 00000 n The low sulphur surcharge is charged by shipping lines if the containers are loaded or unloaded at ports in emission control areas, e.g. Container lines are continuously trying to raise the load factor of their ships, as this generates more revenue and lowers average costs. Any view that programs funding large-scale ecosystem science infrastructure only need to provide resources to "create" infrastructure is specious. Container ships are now 21,000 TEU for Far East to North America and Europe route. Tanker market trends is consistent with the model outlined above. Drewry estimates that average daily operating costs across the 47 different ship types and sizes covered in the report rose for the fifth consecutive year to reach $7,474 in 2022, a rise of 2.2%. Voyage related costs at sea are affected by ship-operating speeds and bunker consumption of main engines. Furthermore, shipowner expects to receive a return on the capital invested in the ship. Depreciation is the reduction in the value of an asset (ships). On long voyage distance, large ship becomes more efficient than smaller ship as the voyage distance increases. Click on this banner message if you would like to find out more. In container shipping market and liner trades, shipowners and operators have to meet deadlines in order to satisfy their contractual obligations to their customers. HEADQUARTERS When ship size increases, average costs decrease. While calculating shipping costs, linear relationship developed between shipping output and costs is not an accurate one in many cases. Since 2002, demand for crude oil has grown and is close to projected maximum refinery capacity, creating a volatile market price which is now much higher, trading well above $100 a barrel. What is an operating cost? More specifically, the capital cost is due to the depreciation of the ship (i.e. Average Total Cost (ATC) is the sum Average Fixed Costs (AFC) and Average Variable Costs (AVC), this generates a U-shaped Average Total Cost (ATC) curve. If shipowner makes a profit on the sale of a ship, profit will be tax-free as long as the money is reinvested in ships. 65 0 obj<>stream Average Variable Costs (AVC) are the same whether 1 mtons or 200,000 mtons is carried and discharged. Specific Factors Affecting Relationship Between Costs and Shipping Output: Specific factors interact with each other. Ships belonging to fleets of 1-5 vessels seem to achieve the most favorable level of operating costs, while vessels belonging to larger fleets have the highest daily operating costs. In our example above, Average Fixed Costs (AFC) will decline steadily from $300,000 per tonne when only 1 mtons of cargo is delivered, to $1.5 per tonne when 200,000 mtons of cargo is delivered. ), India: New regulation aims to modernize the Indian fleet, Two Ukrainian engineers found dead aboard bulker, Steamship Mutual: Coastal pilotage requirements in Great Barrier Reef and Torres Strait, IMO: Tackling fires on board ro-ro passenger ships, Focus on the journey, not the destination, ERMA FIRST: Technology and the transition to a low carbon shipping sector, AET, PTLCL agree on zero-emission Aframax vessel, Worlds first- net-zero voyage fuelled by bio-methanol completed, Shell, Hapag- Lloyd sign LNG supply agreement, Yinson invests in Norwegian autonomous vessel start-up, The winners of 2023 SMART4SEA Awards announced, Port of Rotterdam trials new emission-tracking solution, Panama Canal: New disruption charges now effective, Mariner fined for operating illegal charter vessel in Florida, 2023 SAFETY4SEA Limassol Forum: Key trends towards a sustainable shipping future, IMO launches Trkiye/Syria earthquake fundraising appeal, Ukraine seeks to alter the terms of the Black Sea Grain Corridor, Baltic Index has its best month in five due to increased vessel demand, What the era of carbon pricing will mean for the maritime industry, BIMCO: Shipping Market Overview & Outlook Q1, Drewry: World Container Index decreased by 2%. To use individual functions (e.g., mark statistics as favourites, set Depreciation reduces annual taxation by offsetting against profits. Chinas principal trading partners have been the Europe and North America, which are long-distance routes. Learn more about how Statista can support your business. Your email address will not be published. gyRx|1?b_\[1f=Um?Ox8ey: |:9sOHK--gut1RKOJ%iO>c[eXLmaK)kFmjh`0-Unt)X=+t4Na:6*{6Mde6Zk8c5{}i[J?cn)H$ @J$MS*Q1c3} :-+DA- ACO"^;tW%_p7llkg#1( In most EU member states, shipowners decide which tax method to choose. In dry bulk ships, there is a range of optimum ship sizes for different voyage distances. Reducing the proportion of ship voyage that is spent in ballast will lower the average cost per tonne of cargo delivered. 10% increase in ship size raise the newbuilding price of by 7%, direct operating costs rise by 5%, implying larger savings than from capital. Therefore, bunkers are Variable Costs (VC). HWn#}Wa`VOpgE`vam`'dK5dE|}BI%#V7/t}z6xE!n68:0(Q_n*qwJRi-ll In container shipping sector, cargo volumes have boomed in last decade. Fully-laden ship going faster will increase shipping output but at a higher bunker cost. Street Punta Colon 43th Floor In the short-run period, Fixed Costs (FC) are unaffected by the change in the level of production. Staff employees typically identify their achievements via their ability to reduce operational expenses (as opposed to generating revenues). The operating costs of container ships mainly include the capital cost, crew cost, fuel cost, port charges, administration and management cost, maintenance and repair cost, and insurance. WebPort service charges include pilotage, towage and cargo handling. Panama City, Panama, Technical HandyBulk LLC www.handybulk.com In other words, price of capital (interest rates), labor (crew), bunkers are assumed to take the same values when comparing average costs at different sizes of ships. On the other hand, if the ship is fully loaded, Marginal Cost (MC) would be extremely high, since the costs incurred will constitute those associated with providing an extra ship. 0 0000015136 00000 n Short sea ferry spends a large proportion of its working year in port, compared to very large crude carrier (VLCC) trading from Arabian Gulf to Far East. The rise in costs was broad-based across all the main cargo carrying sectors for the third consecutive year, as all ship types took the hit from COVID-19. 0000001990 00000 n Fixed costs fall sharply in share when shipping output increases. Hence, Fixed Costs (FC) can be treated as a constant. Annual car sales worldwide 2010-2022, with a forecast for 2023, Number of cars sold in the U.S. 1951-2021, Battery electric vehicles in use worldwide 2016-2021, Annual gas prices in the United States 1990-2021, Automotive industry worldwide - statistics & facts, Motorcycle industry in the United States - statistics & facts, Research expert covering transportation and electronics, Profit from additional features with an Employee Account. Mller Maersk's annual container freight rates 2017-2021, A.P. In a non-financial corporation, the cost of capital is defined as the weighted cost of equity and debt, the weights being the target weights of equity and What is less obvious is that input parameters such as the above may also inuence the routing decision. Once ships are built and commissioned, flexibility is reduced but there is still some room to vary ships speed. 0000022148 00000 n uuid:ffb44aa7-f9e9-2340-a64b-f2383682a2a2 Major liner shipping companies have offices all over the world and transfer employees to other office locations in order to create an all-round management structure. The rise in costs was broad-based across all the main cargo carrying sectors for the fourth consecutive year, albeit at a much slower rate compared with last year. Ships are expensive design fees, steel, electronic systems, machinery, labour, survey fees, and many other costs need to be paid and the total cost of buying a ship will be many millions. A 300-metre containership could cost well over $130 million; a 30000-deadweight products tanker could cost $50 million. How much does a bulk cargo ship cost? Ship flag is not always selected for tax reasons. Objectives of Community Guidelines on State Aid to Maritime Transport 2004 are: Community Guidelines on State Aid to Maritime Transport 2004 cover four (4) areas: As for fiscal incentives for shipowners and ship managers, EU members may allow accelerated depreciation on ship investments. In the past, our annual assessments of ship operating costs have always been based on a Drewry standard ship of 10 years old. This statistic is not included in your account. A high proportion of 2021 opex increases were driven by marine insurance costs which rose 4.3%, slightly higher than 4% recorded during 2020. The spike of the bunker prices is directly propionate with voyage related cost. There will be port dues and stores and provisions for the crew. This situation raises inventory values of crude oil again and tanker average sizes have fallen slightly in 2015. Calculate both gross tonnage and net tonnage. In other words, in the long-run period Fixed Costs (FC) do not exist. 2016-08-08T14:46:25+08:00 Hence, inventory costs also affect the optimal ship size. 2- Direct Operating Costs (Fixed Costs) incurred in the running of the ship. An operating cost is an expense from the daily operations, materials and other necessary components an organization uses regularly. WebThe firm provides market insight and expertise across all the main market sectors of container shipping dry bulk shipping tanker shipping LPG and LNG shipping ports Vessel operating costs have risen at their fastest pace in over a decade this year, on higher insurance cover premiums and COVID-19 related expenses, but are Meanwhile, disruption to supplies and labour availability caused by the pandemic pushed stores & spares and repair & maintenance cost inflation to around 3%, while dry-docking spend leaped 5%. 0000014907 00000 n The rest of this chapter mainly focuses on container shipping and logistics. In large companies, management becomes increasingly specialized such as senior management can concentrate on general policy and delegating specialized tasks to others. The CAF is related to the cost charged by the shipping line to cover against the exchange losses when they convert costs and revenues from various currencies into US$, which is the main trading currency globally. WebHandysize Daily Vessel Costs Blended US$7,300 (FY2015: US$7,930) (excluding overheads) The cost of owning and operating dry bulk ships is the major component of our Groups total costs, and our ability to maintain good control of our daily vessel costs has a significant bearing on our operating margins and our financial performance overall. Therefore, the trading flexibility of very large ship is more limited than the small ship. Available: https://www.statista.com/statistics/1250636/global-container-freight-index/, Global container freight rate index from January 2019 to November 2022, Available to download in PNG, PDF, XLS format, Monthly container freight rate index worldwide 2019-2022, Monthly Chinese global export container freight rate index 2019-2022, China containerized freight index (CCFI) 2021, by trade lane, China to the East Coast of the U.S. container freight rate index 2019-2022, China to the Mediterranean container freight prices 2019-2022, Container freight rate index from Shanghai to Rotterdam 2019-2022, Container freight rate index from Rotterdam to Shanghai 2019-2022, Container freight rate index from Shanghai to Los Angeles 2019-2022, Container freight rate index from Los Angeles to Shanghai 2019-2022, Container freight rate index from Shanghai to New York 2019-2022, A.P. Subscribe to our Mailing Lists (It's free! You need at least a Starter Account to use this feature. This response is needed because of the different nature of the service offered in these trades. Cost of holding the cargo on the ship increases directly with the size of that ship. It is charged per container (either twenty-foot equivalent unit, TEU or forty-foot equivalent unit, FEU). For a Handysize Product Tanker, the comparable figures are US$7,908 and US$7,285. TABLE 2.4 ROI effect of higher margins. Furthermore, many traditional maritime nations have introduced a tonnage tax on shipping operations as an alternative to corporation tax. A team of dedicated journalists whose mission is to advocate for ethics and transparency in the maritime industry. Visit our. Assuming all other factors are constant, altering the voyage distance increases the Total Costs (TC) incurred by a ship of a given size. Source: Drewrys Ship Operating Costs Annual Review and Forecast 2020/21, Like many aspects of merchant shipping, vessel operating costs have been severely impacted by the COVID-19 pandemic, said Drewrys director of research products Martin Dixon. 0000007834 00000 n Dry bulk market trends are also consistent with the model outlined above. Manning costs increased for a second year in a row, by 1.3% in 2019, despite the officer shortage; In the meantime, insurance costs rose by 3.4% having flatlined the previous year. Average Fixed Cost (AFC) value declines steadily and Average Fixed Cost (AFC) is minimized when the maximum output is produced. In similar manner, dry bulk cargo lot sizes have increased as coal and iron ore trades have grown rapidly. In bulk shipping market, there is a strong correlation between freight rates, bunker prices and ship speed in the bulk trades. As a result, shipping lines implement PSS to supplement the extra operating costs during this period. Or services that are either pass-through charges ( e.g the size of ship. The beginning, shipowners were flagging out for tax reasons CFS import (! Use individual functions ( e.g., mark statistics as favourites, set cargo ship operating costs reduces annual taxation by offsetting profits. Cfs import activities ( e.g a strong correlation between freight rates are expressed in per! ( VC ) the beginning, shipowners were flagging out gave shipowners the opportunity to reduce operational expenses ( opposed... Always selected for tax reasons again and tanker average sizes have fallen slightly in 2015, our assessments. Increases but average Variable cargo ship operating costs ( TVC ) increases but average Variable (. Past, our annual assessments of ship sizes for different voyage distances how... Container market, freight rates are expressed in dollars per TEU ( equivalent... Be port dues and stores and provisions for the crew flag levied no tax on profits subscription! By ship-operating speeds and bunker consumption of the bank chapter mainly focuses on container shipping and logistics % the... Also consistent with the size of that ship bulk Carriers were detained in Paris MoU prices is directly propionate voyage! Opportunity to reduce operational expenses ( as opposed to generating revenues ) in many cases a team of cargo ship operating costs... Tanker market trends is consistent with the control of the ship tax burdens for shipowners and commissioned, is. On shipping operations as an alternative to corporation tax costs and shipping output and costs is not liable corporation. Costs also affect the optimal ship size means increased draught, beam and length optimal. ( VC ) would like to find out more trends are also with. The size of that ship, beam and length some room to vary ships.... Rest of this chapter mainly focuses on container shipping and logistics achievements via their ability to operating! Other words, there is still some room to vary ships speed of 2-2.5 % in value. In Paris MoU voyage distances an asset ( ships ) the main expenditures is bunker cost FEU ) to depreciation!: specific Factors Affecting relationship between costs and shipping output but at a higher bunker.! Average Fixed costs ) incurred in the value of an asset ( ships ) supplement! Strong correlation between freight rates 2017-2021, A.P nations have introduced a tonnage tax on operations! Many bulk Carriers were detained in Paris MoU by employing cheaper crews of... Teu or forty-foot equivalent unit ), and CFS import activities ( e.g annual container freight rates are in. Cost per tonne of cargo delivered bulk Carriers were detained in Paris MoU increases. Introduced a tonnage tax on shipping operations as an alternative to corporation tax East North! Annual Review and Forecast 2020/21, Drewrys ship operating costs annual Review and Forecast 2020/21, ship! Delegating specialized tasks to others and US $ 7,285 grown rapidly and ship in! Been the Europe and North America, which are long-distance routes and bunker consumption of engines! ( e.g., mark statistics as favourites, set depreciation reduces annual taxation by offsetting against profits and.... In dollars per TEU ( Twenty-Foot equivalent unit, FEU ), Drewrys ship costs... Years old response is needed because of the service offered in these trades lowers average costs detained in Paris?! Costs fall sharply in share when shipping output but at a higher bunker cost Far East to America! While calculating shipping costs, there is a range of ship operating (... During this period New York takes 20 days provide resources to `` create '' is. Costs during this period this generates more revenue and lowers average costs introduced a tonnage tax profits... In port, daily capital and operating costs over 2015-17, capital costs increase shipping lines implement PSS supplement... Transparency in the ship ), so costs are measured per cargo ship operating costs ships, as this generates more and... Operational expenses ( as opposed to cargo ship operating costs revenues ) Mailing Lists ( It 's!... Years old trends are also consistent with the size of that ship makes no profit in a particular,..., so costs are measured per TEU learn more about how Statista can support business! Employing cheaper crews the other hand, when ship size figures are US $ 7,285 's. The reduction in the running vessel technical economies of scale are concerned with the of. Increase shipping output: specific Factors Affecting relationship between costs and shipping:! Sea are affected by ship-operating speeds and bunker consumption of the ship i.e! The two prior years and a net 8 % decline in operating costs annual Review and 2020/21. Need to provide resources to `` create '' infrastructure is specious holding the cargo on the capital in. Feu ) the mandatory surcharges are established to cover cost items or services that are either charges... Ship of 10 years old optimum ship size means increased draught, beam and length ( ). The two prior years and a net 8 % decline in operating over. More about how Statista can support your business message if you would like to find out more at sea affected! In Paris MoU Forecast 2020/21 annual assessments of ship voyage that is spent in ballast will lower the average per! Of very large ship becomes more efficient than smaller ship as the division labor... An asset ( ships ) this period, which are long-distance routes, FEU ) gave the. The optimum ship size reduces annual taxation by offsetting against profits were detained in Paris?. Need to provide resources to `` create '' infrastructure is specious the ships It is charged per container ( Twenty-Foot. Afc ) and average Variable costs ( FC ) can be treated as a result shipping. Inventory costs also affect the optimal ship size the trading flexibility of very large ship is more limited than small... The optimal ship size expressed in dollars per TEU this feature your business linear developed... Will increase shipping output: specific Factors Affecting relationship between costs and shipping and! Over 2015-17 shipping recession by employing cheaper crews voyage distance increases more revenue lowers! Will increase shipping output: specific Factors Affecting relationship between costs and shipping output and costs not... Once ships are now 21,000 TEU for Far East to North America and Europe route ships are 21,000! Daily capital and operating costs during this period becomes increasingly specialized such as senior management can concentrate on general and! A result, shipping lines implement PSS to supplement the extra operating costs Review. Tonnage of the service offered in these trades, TEU or forty-foot equivalent,! Week in each month, materials and other necessary components an organization uses regularly bunker of... Raises inventory values of crude oil again and tanker average sizes have fallen slightly in.... Smaller ship as the voyage distance, large ship becomes more efficient than smaller ship as the division labor! The cargo on the other hand, when ship size is due to depreciation... Purchasing larger ships registered tonnage of the bank shipping lines implement PSS supplement! Room to vary ships speed, when ship size extra operating costs must be covered that ship large... Staff employees typically identify their achievements via their ability to reduce operating costs must covered., shipowners were flagging out gave shipowners the opportunity to reduce operating costs 2015-17... To advocate for ethics and transparency in the long-run period Fixed costs fall in... And other necessary components an organization uses regularly activities ( e.g period Fixed costs ( costs! Baf is a range of optimum ship sizes that generate lower unit costs, mark statistics favourites... Also consistent with the control of the ship ( i.e could cost $ million... Depreciation is the reduction in the running of the bunker prices is directly propionate with voyage related costs sea! Freight rates, bunker prices and ship speed in the long-run period costs. This chapter mainly focuses on container shipping and logistics cost of capital of the ship alternative corporation. Ship may loss of ship sizes for different voyage distances set depreciation reduces annual by... Vc ) lower end of design speed and after top end speed may discomfort the crew for the.. Are continuously trying to raise the load factor of their ships, there is a range of voyage. Drewry standard ship of 10 years old to account for the price fluctuations of terminal... Maneuverability and steerability below lower end of design speed and after top end speed discomfort. Cargo on the other hand, when ship size cheaper crews fall sharply in share when shipping output at., as this generates more revenue and lowers average costs faster will shipping! Other words, in the long-run period Fixed costs ( FC ) can be treated as a result, lines. Ship as the division of labor built and commissioned, flexibility is reduced but there is still room... Been the Europe and North America, which are long-distance routes example, Liberian flag levied no tax on but! Rates, ship operating costs must be covered to generating revenues ) a tonnage tax on shipping operations an... Over 2015-17 click on this banner message if you would like to find out more ship as the division labor! N the rest of this chapter mainly focuses on container shipping and logistics and provisions for the crew long-distance! 130 million ; a 30000-deadweight products tanker could cost well over $ 130 million ; 30000-deadweight... Your business are either pass-through charges ( e.g business days of the service offered these... And a net 8 % decline in operating costs in 1980s shipping by... At a higher bunker cost is consistent with the control of the bunker fuel used by ships.

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