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213889
Higher fuel costs in domestic sea transport
statistikk
2015-09-23T10:00:00.000Z
Transport and tourism
en
kist, Cost index for domestic sea transport, capital cost of financing, maintenance, fuel, depreciation, repair costs, cargo ships, cruise ships, ferries, passenger boats.Sea transport , Transport and tourism
false
The cost index for domestic sea transport shows the development in the costs for owners and operators of Norwegian vessels along the Norwegian coast.

Cost index for domestic sea transport, Q2 2015

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Higher fuel costs in domestic sea transport

The cost of fuel increased by approximately 8.2 per cent in the 2nd quarter of 2015. Total costs for operators of vessels in domestic sea transport went up by about 1.5 per cent.

Cost indices for domestic sea transportPublished 23 September 2015
2nd quarter 2015Per Cent Change
1st quarter 2015 - 2nd quarter 20152nd quarter 2014 - 2nd quarter 2015
Total index115.41.5-1.6
Vessels
Ferries115.11.5-1.8
Small passenger boats116.31.5-1.5
Large passenger boats117.91.7-1.9
Criseships115.01.1-0.4
Tugs114.91.6-1.0
Other cargo ships115.01.5-2.9
Costs
Fuel125.58.2-18.5
Crew117.60.22.8
Repair and maintenance114.10.84.0
Administrative125.10.32.5
Other111.00.62.2
Capital costs - Depreciation107.4-1.41.3
Capital costs - Financing74.30.4-12.1

Source: Statistics Norway

The sub-index of fuel costs ended at 125.5 in the 2nd quarter of 2015. Despite sharply rising from the previous quarter, the sub-index had a year-on-year decrease of 18.5 per cent. The index for total costs, which covers all costs and all vessels in domestic sea transport, ended at 115.4 and is 1.5 per cent higher than it was in the 1st quarter of the year.

Increase in the total costs for all vessels

The sub-indices for all types of vessels increased in the 2nd quarter of 2015 compared to the previous quarter. Large passenger boats experienced the relatively largest growth among the different types of vessels, increasing by 1.7 per cent. The year-on-year costs are still decreasing for all types of vessels.

Increase in most other costs

The sub-index for costs of crew ended at 117.6 in the 2nd quarter of 2015, representing a year-on-year rise of 2.8 per cent and an increase of 0.2 per cent compared to the previous quarter.

Financing costs rose by 0.4 per cent compared to the first quarter of the year, but fell on a year-on-year basis by about 12.1 per cent. The financing sub-index is based on the Norwegian Interbank Offered Rate, which reflects the cost of borrowing for Norwegian banks in the domestic market.

The costs of repair and maintenance and administration also rose by 0.8 and 0.3 per cent respectively, compared to the 1st quarter of the year.