Dry bulk carriers’ total operating expenses rose from 5% to 9% in 2022 in the various ship categories, with the largest increase of 9% recorded in Handysize ships, according to the Moore Maritime Index “MMI”, a database, which includes the operating costs and revenues of more than 1,500 ships and has been updated with the data of 2022.
The data comes from audited financial statements of ship-owning companies, and therefore the results produced by the MMI show the ‘real picture’ of the financial performance of the shipping sector.
More specifically, there was an increase in costs for insurance, lubricants, supplies, spare parts, repairs and maintenance. Crew costs and administrative costs were about the same as in 2021.
In terms of revenue, fare levels appeared to have improved in 2022, with the exception of large Capesizes, which saw a decrease, but remained at satisfactory levels overall.
Tankers also saw an increase in their operating expenses, from 3% to 7%. All tanker classes recorded high fuel and spare parts costs, while repair and maintenance costs were higher for vessels between 20,000 dwt and 120,000 dwt.
Crew costs were unchanged compared to the previous year, while insurance increased across most tanker categories.
In terms of revenue, fare levels appeared much improved, with the largest increase being recorded in the Suezmax category.
