Moore: Country Of Build Than Fleet Size Matters In Operating Cost

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A recent news article published in the Moore Maritime Index states that The Moore Maritime Index 2022 is available.

A database that contains operating costs and revenues

The 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 2021 data.
The data comes from audited financial statements of ship owning companies only, 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.

We have also published our reports “MMI 2022 – Shipping Trends based on the Fleet Size” and “MMI 2022 – Shipping Trends based on the Country of Built”, which focus on studying the possible trends and correlations between the fleet size, the country of built and operating expenses of the vessels.

Moore Greece main observations

Moore Greece main observations can be found in the ‘Highlights’ sections of the respective Reports. The main takeaways, consistent with the prior year, are:

  • MMI Report 2022 shows that Operating costs remained overall stable in most categories in 2021 and confirmed the very good year of the Dry Bulk Sector.
  • Consistent with the prior year, the fleet size appears to play a role in the volatility of operating expenses with larger fleet sizes incurring lowest annual increase in operating expenses. However, the relationship between operating costs and fleet size is not linear on certain expense categories.
  • The country of build seems to be a factor that affects the operating expenses of a vessel, for yet another year.

“We are very happy that we can add another year’s data to our database. The data depicts the good year of the dry bulk sector and the worsening of the tanker sector for the 2021 financial year end and shows that Operating costs were held in control although there is variance between sectors and vessel types. In addition the 2021 data seems to confirm the trends identified in our studies regarding fleet size and country of built.” mentioned Mr. Costas Constantinou, Moore Global’ s maritime leader and managing partner of Moore Greece.
To access the Moore Maritime Index, please visit moore-index.com.

About Moore Greece

Moore Greece, an independent member of Moore Global, is an accounting and consulting firm specialising in shipping and other sectors. Our wide range of services covers audit and assurance, tax, governance – risk and compliance, IT consulting, transactions and accounting outsourcing for corporations, family owned businesses and private individuals.

With over 120 professionals, deep knowledge and award winning proprietary tools, we can help clients improve efficiency and maximise profitability. By being the first international accounting firm in Greece with over 55 years of presence in the local market, we remain one of the most important and trustworthy firms in our industry.

 

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Source: Moore

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