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213893
Lower fuel and financing costs in domestic sea transport
statistikk
2016-03-18T10:00:00.000Z
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, Q4 2015

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Lower fuel and financing costs in domestic sea transport

The cost of fuel and financing decreased by 10.8 and 5.3 per cent respectively in the 4th quarter of 2015 compared to the previous quarter. The total costs index for operators of vessels in domestic sea transport went down by about 1.4 per cent.

Cost indices for domestic sea transportPublished 18 March 2016
4th quarter 2015Per Cent Change
3rd quarter 2015 - 4th quarter 20154th quarter 2014 - 4th quarter 2015
Total index111.8-1.4-3.9
Vessels
Ferries111.3-1.6-4.2
Small passenger boats112.7-1.4-3.8
Large passenger boats113.8-1.7-4.4
Criseships113.0-0.7-2.0
Tugs110.9-1.3-3.6
Other cargo ships110.2-1.8-5.4
Costs
Fuel101.2-10.8-25.9
Crew118.70.51.7
Repair and maintenance114.91.03.8
Administrative125.1-0.10.6
Other112.30.82.5
Capital costs - Depreciation109.82.01.5
Capital costs - Financing65.0-5.3-17.7

Source: Statistics Norway

The sub-index of fuel costs ended at 101.2 in the 4th quarter of 2015 and decreased by 25.9 per cent last year. The index for total costs, which covers all cost groups and all vessels in domestic sea transport, ended at 111.8. This is 1.4 per cent lower compared to the 3rd quarter of 2015.

Decrease in the total costs for all vessels

The sub-indices for all types of vessels decreased in the 4th quarter of 2015, compared to the previous quarter. Other cargo ships experienced the relatively largest fall among the different types of vessels, decreasing by 1.8 per cent. Compared to the 4th quarter of 2014, the decrease was 5.4 per cent.

Significantly lower finance costs

The sub-index for finance costs ended at 65.0 in the 4th quarter of 2015, a decrease of 5.3 per cent compared to the 3rd quarter. Over the last 12-month period, the financing costs for operators of vessels in domestic sea transport have fallen sharply, by 17.7 per cent.

Increase in the costs of repair and maintenance

The sub-index for repair and maintenance ended at 114.9 in the 4th quarter of 2015. This represents a rise of 1.0 per cent compared to the 3rd quarter of the year, and a year-on-year rise of 3.8 per cent.

The sub-index for administrative costs ended at 125.1 in the 4th quarter of 2015, which is a year-on-year rise of 0.6 per cent and a decrease of 0.1 per cent compared to the previous quarter.