Higher operating result in ocean transport
Vessels in foreign going trade had an increase in operating result of 53 per cent to NOK 24 billion from 2009 to 2010. With an operating margin of 23 per cent, the profitability was almost the same level as in 2007.
Figures for ocean transport are reported by enterprises within the industry sub-classes of Passenger ocean transport, Freight ocean transport, Tugs, and Supply and other sea transport offshore services. The growth for vessels in foreign going trade is mainly a result of lower operating costs, while gross freight increased by 5 per cent to NOK 105 billion.
Increased income from Contracts of affreightment (COA)
Freight income from contracts of affreightment increased by 27 per cent to NOK 15.8 billion from 2009 to 2010. In the same period, voyage freights and foreign time charter increased by 12 and 18 per cent respectively. Freight income from bareboat fell 43 per cent to NOK 3 billion in 2010.
Growth in bulk transport
The freight income from bulk vessels increased by 53 per cent to NOK 31.7 billion in 2010. Bulk transport represents 32 per cent of total gross freights in 2010, compared to 22 per cent in 2009.
Increased bunker costs
Bunker costs and loading and unloading costs increased by 25 and 18 per cent. Other voyage dependent costs were unchanged in the same period. Costs from renting manned foreign vessels increased by 28 per cent to NOK 14.5 billion. Bareboat rentals decreased by 18 per cent.
Growth in income from coastal traffic
In 2010, coastal water traffic had an increase in turnover of 4 per cent. The growth in turnover for enterprises within coastal water traffic stems from increased income in domestic freight transport, passenger boats and car ferries. Domestic freight transport increased by more than NOK 300 million from 2009 to 2010.