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Fuel and financing costs continue to fall in domestic sea transport
statistikk
2016-06-23T10:00:00.000Z
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
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Cost index for domestic sea transport, Q1 2016

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Fuel and financing costs continue to fall in domestic sea transport

The cost of fuel and financing decreased by 18.8 and 2.8 per cent respectively in the 1st quarter of 2016, compared to the previous quarter. The total costs index for operators of vessels in domestic sea transport went down by about 2.6 per cent.

Cost indices for domestic sea transportPublished 23 June 2016
1st quarter 2016Per Cent Change
4th quarter 2015 - 1st quarter 20161st quarter 2015 - 1st quarter 2016
Total index108.9-2.6-4.2
Vessels
Ferries108.2-2.8-4.6
Small passenger boats109.7-2.7-4.3
Large passenger boats110.2-3.2-4.9
Criseships111.3-1.5-2.2
Tugs108.2-2.4-4.3
Other cargo ships106.5-3.4-6.0
Costs
Fuel82.2-18.8-29.1
Crew119.50.71.8
Repair and maintenance116.71.63.1
Administrative125.20.10.4
Other113.41.02.8
Capital costs - Depreciation110.50.61.5
Capital costs - Financing63.2-2.8-14.6

Source: Statistics Norway

The sub-index of fuel costs ended at 82.2 in the 1st quarter of 20161 and decreased by 29.1 per cent last year. The index for total costs, which covers all cost groups and all vessels in domestic sea transport, ended at 108.9. This is 2.6 per cent lower compared to the 4th quarter of 2015.

Decrease in the total costs for all vessels

The sub-indices for all types of vessels decreased in the 1st quarter of 2016, compared to the previous quarter. As in the previous two quarters, other cargo ships experienced the relatively largest fall among the different types of vessels, decreasing by 3.4 per cent. Compared to the 1st quarter of 2015, the decrease was 6.0 per cent.

Financing costs continue to fall

The sub-index for finance costs ended at 63.2 in the 1st quarter of 2016, a decrease of 2.8 per cent compared to the 4th quarter of 2015. Over the last 12-month period, the financing costs for operators of vessels in domestic sea transport have fallen sharply, by 14.6 per cent.

Increase in the costs of repair and maintenance

The sub-index for repair and maintenance ended at 116.7 in the 1st quarter of 2016. This represents a rise of 1.6 per cent compared to the 4th quarter of 2015, and a year-on-year rise of 3.1 per cent.

The sub-index for costs of crew ended at 119.5 in the 1st quarter of 2016, which is a year-on-year rise of 1.8 per cent and an increase of 0.7 per cent compared to the previous quarter.

1 Correction of the period.