Cost index for domestic sea transport, Q4 2010

Despite the sharp increase in fuel costs from the 4th quarter of 2009 to the same quarter a year later, the total index for the cost of domestic shipping increased only by 5.5 per cent. The reason is that other costs increased significantly less than fuel. The sub-index for the cost of crew only increased 1 per cent compared with the same quarter last year.

Cost from debt going up

The sub-index for capital cost of financing is based on 3-month nominal NIBOR from Norges Bank, which in this quarter was 2.55 per cent. In the 4th quarter of 2010 the sub-index is 104.6 versus 91.6 in the corresponding quarter in the previous year. This is an annual growth in the cost of financing of 14.1 per cent.

Largest cost increase for ferries and freight vessels

Total costs for ferries increased by 6.0 per cent from the 3rd quarter of 2009 through the 3rd quarter of 2010. Freight vessels saw an increased cost of 6.2 per cent in the same period.

For ferries, total costs increased by 5.5 per cent from the 4th quarter of 2009 to the 4th quarter of 2010. For small and large fast passenger boats, the total cost increased by 5.3 and 5.5 per cent respectively, compared with the same period last year. For cruise vessels, total costs increased by 4.6 compared with the 4th quarter of 2009.

Tables:

• Table 1 Costindices domestic sea transport, 4th quarter 2010. 2nd quarter 2009=100