As cheap as ships?
For third successive year, all categories of shipping expenditure in 2017 were down, most notably for insurance costs and stores
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
RUNNING ships is getting cheaper. Costs are going down. Now, before shipowners start throwing bricks through my window and shippers accuse container lines of manufacturing bunker adjustment factor surcharges, it should be made clear that we are talking about costs other than fuel.
That said it still seems surprising that international accountant and shipping consultant Moore Stephens is able to report that total annual operating costs in the shipping industry fell by 1.3 per cent in 2017. This compares with the 1.1 per cent average fall in costs recorded for 2016.
For the third successive year, all categories of expenditure in 2017 were down on those for the previous 12-month period, most notably for insurance costs and stores.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
