Inland shipping companies face rising costs again for the first time in four years. This is mainly due to a higher fuel price.
This is according to the cost reports for inland navigation recently updated by Panteia on behalf of the Central Bureau for Rhine and Inland Navigation. The report shows that last year, inland navigation experienced a cost decrease between 0.7 and 6.0 per cent, largely due to falling fuel prices.
On the contrary, costs are expected to rise in 2017. Depending on the type of voyage and vessel, the cost index of operating costs will rise between +2.6 per cent and +7.1 per cent. In sand and gravel shipping, a cost increase ranging between +3.1 per cent and +5.1 per cent is expected in the coming year. Vessels with many sailing hours have the largest increase due to the large share of fuel costs in total operating costs. On top of that, labour and maintenance costs will rise.
Panteia reports in a press release that the actual development of the gas oil price will have to be closely monitored. "Based on the Central Planning Bureau's (CPB) estimate, a 14.8 per cent drop is expected in 2017 compared to 2016. However, the 'fuel cost' component is quite unpredictable and highly dependent on the conditions that determine the global oil market. In fact, current fuel prices are already higher than the average forecast for this year," Panteia said.
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