2.3.2 Cost tables
Table 2.3.1 shows the cost tables for three cargo ships used for the simulation. The Capital cost and the following running costs are considered as cost items consisting of ship operation costs. In order to investigate the operation cost through Suez route, the tariff rates for the Suez Canal are also prepared.
Capital cost
Capital costs for a new build ship are comprised of a loan repayment of initial investments that are sum of a new build ship price and an initial miscellaneous costs.It is assumed that a ship owner amortizes these costs in 15 years at 7% interest per year with level payment. The initial miscellaneous costs are considered as additional costs for a newly built ship, and it includes interest during building stage and equipment/deposits to be newly furnished for navigation.It is predetermined as 3 percents of a ship price. This assumption is the average for the bulkers from 25,000 to 50,000DWT.The prices of 25BC and 40BC are given by WP4. The price of50BC is decided from the SOF relevant studies(1998,SOF).
Crewing cost
A number of crews are 24 for both 25BC and 40BC,and 25 for 50BC. The average costs per month for these crews are given as crewing costs.
Maintenance costs
The averages of annual maintenance costs of five years after ship constructions are used as maintenance costs per year. These costs are based on the actual results in the last few years obtained for the same class ships. These costs include repairs, replenishment of parts and stocks and lubrication oils and other miscellaneous expenses.
Insurance costs
The ship insurance seems to be dificult to estimate properly due to the limitation of the actual results. Considering the voyage in ice infested seas, the risk is larger than that of Suez route. The ship insurance is usually assigned to P&I (Protection and Indemnity) and H&M (Hull and Machinery). P&I insurance that includes cargo insurance depends on a ship size and a type of cargo. H&M insurance depends on the ship price. P&I insurance is decided as 8$/GT based on the report from WP7. Also, H&M insurance complies with the ship price taking account for the damage rate in the NSR. There is no official data of the rate of damages, so that we roughly estimate H&M insurance assuming the annual sinking rate in the NSR as 0. 1%. Thus, H&M insurance ranging from 1.0 to 2.9$/GT are obtained. Adding P&I of 8$/GT to this H&M insurance ranges, we reached an insurance of 10$/GT in round number as the package insurance covering both H&M and P&I. On the other hands, there are many actual data of the ship insurance through Suez route. Consequently this insurance turned twice as much as that of the Suez route as listed in Table 2.3.1.
Fuel cost
In the last few years, the banker prices were fluctuated. The heavy fuel oil of 380cSt are assumed as a fuel, and the average prices for the last five years were adopted.
Icebreaker escort fee
The icebreaker escort fee is referenced in Table 2.3.2 that is cited from the WP7 report.The fee is as a function of gross tonnage, season and area and specified up to 20,000GT. The actual prices will be decided after negotiation with MSCO operating icebreakers. The icebreaker fee includes ice-forecast and route recommendation services. The fee per GT
