In brief

Operating costs to rise

Vessel operating costs are expected to rise 3.2% in 2010 and 3.5% in 2011, with crew costs identified as the category most likely to produce the highest levels of increase, according to a new survey by shipping consultant Moore Stephens. The survey, based on responses from key players, in the shipping industry, predominantly ship owners and managers in Europe and Asia, revealed an overall expectation that crew costs would rise by 2.7% in 2010 and by 3% in 2011.