Cost index for domestic sea transport, Q3 2011

The sub-index for capital costs of financing is based on 3-month nominal NIBOR from Norges Bank. This sub-index was at 119.3 in the 3rd quarter of 2011. This is an annual growth in the cost of financing of 10.4 per cent compared with the same quarter in 2010 and an increase of 8.1 compared to the 2nd quarter of 2011.

Despite the yearly sharp increase in financing costs, the total cost index for domestic sea transport increased by only 1.2 per cent compared with the previous quarter. The reason is that other costs increased significantly less than financing. The sub-index for repair and maintenance costs increased by only 0.5 per cent, while the sub-index for other costs had a slight decrease of 0.7 per cent compared with the second quarter of 2011.

Largest cost increase for large passenger vessels and tugs

Total costs for large passenger vessels had an increase of 7.7 per cent from the 3rd quarter of 2010 to the 3rd quarter of 2011. Towing/port towage saw costs increase by 5.3 per cent during the same period.

Tables:

• Table 1 Costindices domestic sea transport, 3rd quarter 2011. 2nd quarter 2009=100