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Moore Maritime Index (MMI), a database that contains operating costs and revenues from more than 1,500 vessels, has been updated and is available with the 2023 data.
The data comes from audited financial statements of ship owning companies and therefore, the results produced by the Index show the “real world” of financial performance of the shipping industry.
The main takeaways are:
- In dry bulk carriers, the level of the total operating expenses remained at similar levels compared to 2022, with the only exception being Capesize vessels which showed an increase of 7%. Specifically, there was an increase in insurance costs, in repairs and maintenance as well as in crew victualling expenses, while on the contrary it was observed that crew other costs, such as travelling and training expenses, decreased in all categories of bulk carriers. Crew salaries, administrative expenses, stores, lubricants and spares were at about the same levels as in 2022. In terms of revenues, the rates appeared reduced in 2023. The categories of Handysize, Handymax and Panamax vessels presented a decrease from 44% to 50%, while Capesize vessels recorded the smallest decrease of 11%.

- Tankers reported an increase in their total operating costs, with the exception of very small tankers under 20,000 dwt which recorded a slight decrease in operating costs of 5%. All categories of tankers presented high costs for spare parts, while an increase was also observed in insurances. In contrast, crew costs did not change significantly compared to the previous year. In terms of revenue, the rates demonstrated improvement especially in the larger vessels, with the highest increase being reported in the VLCC category even up to 110%.
To access the Moore Maritime Index, please visit moore-index.com.