Vessel operating costs are expected to rise by 3.0 per cent in both 2012 and 2013 according to a new survey by international accountant and shipping consultant Moore Stephens. Lube expenditure and crew costs are the categories most likely to produce the highest levels of increase.

The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. As was the case twelve months ago, those responses identified lubricants as the cost category likely to increase most significantly – by 2.9 and 2.8 per cent in 2012 and 2013 respectively.

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