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154058
Stable increase in costs for domestic sea transport
statistikk
2014-12-19T10:00:00.000Z
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, Q3 2014

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Stable increase in costs for domestic sea transport

The total costs for enterprises in domestic sea transport increased by just 1.8 per cent in the third quarter of 2014 compared with the same period in 2013.

Cost indices for domestic sea transportPublished 19 December 2014
3rd quarter 2014Per Cent Change
2nd quarter 2014 - 3rd quarter 20143rd quarter 2013 - 3rd quarter 2014
Total index118.10.71.8
Vessels
Ferries118.30.92.0
Small passenger boats119.20.92.0
Large passenger boats121.41.02.0
Criseships116.30.71.8
Tugs116.50.31.7
Other cargo ships118.90.41.6
Costs
Fuel153.2-0.5-3.9
Crew116.51.83.7
Repair and maintenance110.40.63.4
Administrative123.71.32.1
Other109.20.62.2
Capital costs - Depreciation106.70.71.9
Capital costs - Financing82.0-3.02.4

Source: Statistics Norway

The total cost index for domestic sea transport was 118.1 in the third quarter of 2014. This is an increase of 0.7 per cent compared with the figures for the second quarter of 2014. The figures show a steady growth in the cost of the enterprises in this industry.

Sub-index for fuel down

Fuel was the only area to show a significant decline, with the sub-index at 153.2 in the third quarter of 2014. This is a decrease of 3.9 per cent from the third quarter of 2013 and a reduction of 0.5 per cent compared to the second quarter of 2014. These figures correspond with the information from the producer price index for oil and gas, manufacturing, mining and electricity, which shows a sharp fall in prices of crude oil, natural gas and petroleum products.

The sub-index for capital costs financing was 82.0 in the third quarter of 2014, which is an increase of 2.4 per cent from the same quarter last year. However, this sub-index shows a decrease of 3.0 per cent from the second quarter of 2014. The sub-index for capital costs financing is based on the 3-month nominal NIBOR from the Norwegian Bank (Norwegian money market rate).

Increase in costs for repair and maintenance

The sub-index for repair and maintenance was 110.4 in the third quarter of 2014. This is an increase of 3.4 per cent from the same quarter last year and a growth of 0.6 per cent compared with the second quarter of 2014.