Global Freight Fleet Operating Cost Breaks US$ 100 Billion
Operating costs of the global cargo fleet(OPEX) exceeded $100 billion in 2017 for the first time, up from $98 billion in 2016, according to Clarkson research data. In 2008, the operating cost of the global freight fleet was 83 billion U.S. dollars.
Crew wages still account for the largest portion of fleet operating costs, at $43 billion, according to Clarkson. The funds were allocated to 1.4 million crew members. Management costs account for the second largest proportion of crew operating costs, totaling US$ 9.2 billion, followed by US$ 7.7 billion in maintenance costs and US$ 5 billion in storage and lubrication costs. In addition, $4.6 billion is spent on insurance costs, and $3.4 billion is spent on ship protection and compensation(P& I), the cost of 3.2 billion U.S. dollars is for fixed supply. At the same time, the cost of groceries is US$ 4.3 billion, and other unit costs are US$ 6.9 billion.
Over the past few years, the shipping industry has been under considerable pressure to maintain competitiveness and reduce costs, as losses from offshore operations have continued to spread from the offshore sector to the shipping, bulk and oil industries.
In order to make the shipping industry more intelligent, the collection and use of "big data", technology and automation continue to attract industry investment, says Mr Clarkson. Costs in this area(without taking into account ship operating costs) are also clearly a considerable objective. The shipping industry will therefore need new technologies, skills and new accounting methods.