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92489
Major decline in capital costs
statistikk
2013-03-27T10:00:00.000Z
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

Cost index for domestic sea transport, Q4 2012

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Major decline in capital costs

The total cost index for domestic sea transport was almost unchanged in the 4th quarter of 2012, but the sub-index for capital costs of financing had a significant decline in this period.

Cost indices for domestic sea transportPublished 27 March 2013
4th quarter 2012Per cent
3rd quarter 2012 - 4th quarter 20124th quarter 2011 - 4th quarter 2012
Total index114.3-0.40.7
Vessels
Ferries114.8-0.61.1
Small passenger boats114.8-0.41.2
Large passenger boats116.4-0.41.8
Criseships112.20.01.2
Tugs111.5-0.5-0.7
Other cargo ships115.4-0.8-0.8
Costs
Fuel156.9-3.3-0.5
Crew110.80.94.4
Repair and maintenance105.5-0.12.3
Administrative117.10.94.7
Other105.01.21.3
Capital costs - Depreciation102.3-0.21.0
Capital costs - Financing88.9-8.1-27.3

Source: Statistics Norway

The sub-index for capital costs of financing was at 88.9 in the 4th quarter of 2012. This is 27.3 per cent lower than the same quarter in 2011 and 8.1 per cent lower than the 3rd quarter of 2012. This sub-index is based on the 3-month nominal NIBOR from Norges Bank (Norwegian money market rate). The average for the three-month nominal NIBOR was 3.09 and 1.90 per cent respectively in the 4th quarter of 2011 and 4th quarter of 2012.

Almost unchanged total cost index

The total cost index for domestic sea transport was at 114.3 in the 4th quarter of 2012, only 0.7 per cent higher than the same period in 2011. Compared to the 3rd quarter of 2012, there was a decline of 0.4 per cent.

The sub-indices for administrative costs and crew were at 117.1 and 110.8 respectively in the 4th quarter of 2012. These sub-indices had the highest growth last year, with an increase of 4.7 and 4.4 per cent respectively from the 4th quarter of 2011. The sub-index for other costs was at 105.0 in the 4th quarter of 2012. This is an increase of only 1.3 per cent compared with the same period last year.

Highest cost increase was for large passenger boats

The sub-index for large passenger boats was at 116.4 in the 4th quarter of 2012. Thus the total cost for this industry group increased by 1.8 per cent from the same period last year. The sub-index for total costs for tow vessels was at 111.5 in the 4th quarter of 2012. This is a decrease of only 0.7 per cent compared to the same period last year. The base year for the index is 2009.