Moore Maritime Index, “MMI”, a database that contains operating costs and revenues from more than 1,500 vessels, has been updated and is available with the 2022 data reflecting the firm prospects of the shipping market.
The data comes from audited financial statements of ship owning companies and therefore, the results produced by the Index show the “real world” of financial performance of the shipping industry across more than 20 vessel types. The main takeaways are:
In dry bulk carriers, the total operating expenses increased in a range from 5% to 9% across the various vessel categories, with the largest increase of 9% being reported by the Handysize vessels. In particular, increase was reported in insurance expenses, lubricants, stores, spare parts, repairs and maintenance. Crew and administrative costs remained close to the same levels as in 2021. In terms of revenues, the rates appeared to improve in 2022, with the exception of large Capesizes which declined but remained at satisfactory levels overall.
Tankers also reported an increase in their total operating expenses, in a range from 3% to 7%. All tankers’ categories presented high costs for lubricants and spare parts costs, while repair and maintenance expenses were higher for vessels between 20,000 dwt and 120,000 dwt. Crew costs remained unchanged compared to the previous year, while insurance expenses increased across most tanker categories. In terms of revenue, the rates appeared much improved, with the largest increase being recorded in the Suezmax category.
To access the Moore Maritime Index, please visit moore-index.com.
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