Consultants Drewry's latest survey on operating costs warns that they're on the rise again, with headline operating costs set to rise 1.7-2% this year after falling back 1.5% in 2009.
According to Drewry, "Last year saw a retrenchment in the costs of running fleets. The signs are pointing to an upsurge in 2010/11. The key message being that if owners and managers do not have contracts, particularly for items such fuel and lubes and repairs and maintenance, they could find their budgets blown to the four winds."
The report focuses on the main cost heads – manning, insurance, stores and supplies, repairs and maintenance and management and administration with projections for how these areas will perform up to 2014.
As far as manning is concerned the report suggests that "Late 2008 and 2009 did see soaring wage levels flatten off as global economic growth stalled. However, as there is a return to growth, and an expanded global fleet, this will create a manning supply/demand imbalance that will drive wages upwards."
You have been warned….