According to Clarkson research data, the operating expenses (OPEX) of the global cargo fleet exceeded US$100 billion for the first time in 2017, up from US$98 billion in 2016. In 2008, the operating expenses of the global cargo fleet were US$83 billion. US dollars.
Clarkson points out that the operating expenses of the fleet on the ship’s crew still account for the largest share of all costs, amounting to US$43 billion. This amount is distributed among 1.4 million seafarers. Management costs account for the second largest share of the operating expenses of the crew, totaling US$9.2 billion, followed by US$7.7 billion for maintenance costs and US$5 billion for storage and lubrication costs. In addition, there were $4.6 billion in insurance costs, $3.4 billion in vessel protection and indemnity (P&I) costs and $3.2 billion in fixed supplies costs. Meanwhile, grocery costs were $4.3 billion and other unit costs were $6.9 billion.
In recent years, due to the continuous loss in offshore business from the offshore sector to the shipping, bulk and oil transport sectors, the shipping industry has been under considerable pressure to maintain competitiveness and reduce costs.
Clarkson pointed out that to make the shipping industry smarter, the collection and use of “big data”, technology and automation continue to attract investment from the industry. Costs in this area (regardless of the operating costs of the vessel) are clearly a significant target. Therefore, the shipping industry will need new technologies, skills and new accounting methods.