Operating costs are set to rise

Vessel operating costs are expected to rise by 2.1 per cent in 2017 and by 2.4 per cent in 2018, according to the latest survey by Moore Stephens. The cost of repairs and maintenance is expected to increase by 2.0 per cent in both 2017 and 2018, while expenditure on spares is predicted to rise by 2.0 per cent in 2017 and by 1.9 per cent in 2018. Drydocking expenditure, meanwhile, is expected to increase by 1.7 per cent and 1.8 per cent in 2017 and 2018 respectively.