Moore Stephens annual OpCost report for the financial year of 2011 has been released this month. According to OpCost 2012 report the total annual operating costs in the shipping industry have been increased by an average 2.1% in 2011. This compares with the 2.2% average rise in costs recorded for the previous year. Crew costs were the main reason for the overall increase in 2011, a 3.3% overall increase in 2011 crew costs compared to the 2010 figure has been reported. Insurance fell for the second year in succession.
Officer of the Watch 