14. starptautiskÄ konference 2012 - Latvijas JÅ«ras akadÄmija

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Proceedings of 14th International conference „Maritime Transport and Infrastructure - <strong>2012</strong>”IMPACT OF THE DECREASE OF COSTS OF A LINER SHIPPINGCOMPANY ON THE FINANCIAL RESULTS OF THE COMPANYJurate Zukauskaite, Regimantas LukoseviciusLithuanian Maritime Academy, I. Kanto str. 7, Klaipeda LT-92123, Lithuania, E-mail: j.zukauskaite@lmc.ltAbstractPresently maritime transport serves up to 80% of global market and 90% of European internationaltransportations market. Costs of a maritime transport company can be defined as ship charterer`scosts. The cost price of a charter for clients consists of maritime transport costs, brokerage costs andthe profit of a ship owner. Current ship costs is special by the fact that it is approximately calculatedwhen making annual budget and later on distributed taking into consideration shipmaintenance/exploitation plan. It is important for the companies to optimize costs under marketeconomics conditions in order to maintain competitiveness in market.KEY WORDS: liner shipping, costs, profit, decrease of costs.IntroductionLiner Shipping – is one of the types of shipping based on certain elements that distinguish itfrom other forms of shipping. Distinctive features of liner shipping are: coordinated schedule of shipcalls between concrete ports; priority for the ship services at the port; stable (conditionally) tariffs;contracts between shipping line operator and port terminals where the liner ships are served. The costsof maritime transport company and the companies operating on shore differ.Object of research – AB DFDS SEAWAYS activity costs.AB DFDS SEAWAYS is a sea ferry company which up to 2011 operated as AB (JSC)„LISCO BALTIC SERVICE“, when in 2006 JSC „Lietuvos jūrų laivininkystė“ was reorganized. Themain activity of AB DFDS SEAWAYS is transportation of passengers by ferries and ship chartering.The company hires its ships on the following lines: Klaipėda – Kiel, Klaipėda – Karlshamn,Klaipėda – Sassnitz, Dunkerque – Dover, Amsterdam – Newcastle, Esbjerg – Harwich, andCopenhagen - Oslo. It also fulfils the functions of ship agent for its own and „DFDS Tor Line“ linesfrom Lithuania to Germany, Sweden, Denmark and Russia (Kaliningrad region).AB DFDS SEAWAYS group ships transport cargo in ro-pax lines network of the southernBaltic region. The activities cover the transportation of passengers and cargo between Scandinavianand West European countries as well as the Baltic States and Russia. Tor Botnia and Tor Finlandiaexecute cargo transportations in the North Sea.Goal of research – is to ground the impact of chartering and wages costs on the profit of linershipping company.Tasks of research:1. Classify the costs of a liner shipping company.2. Distinguish the costs making the greatest impact on the profit of a liner shipping company.Methods of research – analysis of scientific literature, content analysis of company activitiesdocuments, analysis of conditional indices, correlation, regression.138
Proceedings of 14th International conference „Maritime Transport and Infrastructure - <strong>2012</strong>”1. Costs structure of a liner shipping companyDistribution of ship costs gives possibility to more precisely assess the impact of costs on theprofit of a liner shipping company [4]. Liner shipping costs groups are: ship costs, sailing cost, capitalcosts of a ship owner, cargo handling costs.Current ship costs are calculated as total annual costs when costs is calculated for oneexploitation day and the current costs of sailing is calculated evaluating the duration of a sailing andthe costs for one exploitation day: Costs for the maintenance of a crew: wages, overtime/ bonuses, payment for vacation, socialcosts, professional training, transportation of a crew to a ship, medical services, hiring costs, foodproducts and etc. Insurance: contributions to P&I clubs. Deck technical equipment: buying of maps/charts, auxiliary navigation means, mooringropes, paint, flags, and deck and superstructure regulation devices. Technical supply for engine-room: chemical materials, welding equipments, electricapparatuses and equipment, instruments, spare parts. General supply: cartridges, supply for devices and etc. Spare parts: for deck mechanisms and equipments, for main engine, for auxiliarymechanisms, for electricity systems and rescue equipment. Servicing and survey: survey of fire-extinguishers and rescue boats. Repairs: deck equipments and machine costs. Costs for ensuring of safety and protection: preparation of documents, survey, checking,certification. Administrative costs: communications and postal costs, visits of the representatives of thecompany to a ship, improvement of computer systems.Exceptional peculiarity of sailing costs is that the costs is planned for each concrete sailing as itdepends on sailing conditions. Sailing costs consists of: Fuel costs. They make the biggest part of sailing costs. Fuel costs are predetermined by 2main factors: fuel price and fuel consumption. The owner of a ship cannot control the price of fuel buthe can decrease the consumption of fuel. Consumption of fuel depends on speed of a ship. Port dues – port administration, customs and other bodies collect sums of money from shipsand cargo owners for the compensation of construction costs, maintenance of port infrastructure andsuperstructure. Lighthouse, port, tonnage or ship, navigation, quay, dock, canal, river locks and cargodues are attributed to the main dues. Payment for ship agents` services. The ship covers costs for ship agent services. Thoseservices are rendered by maritime agent who is on contract relations with the owner of a ship. Payment for sailing along canals. Calculating the dues for sailing the biggest attention is paidto the size of a ship, besides, the tariffs for fully loaded ships and ships with ballast significantly differ.Ship costs at a port are connected with cargo handling at a port. The quantity of cargo and therate of cargo tariff make great impact on cargo handling costs. Not only cargo handling costs areincluded into the tariff but also cargo storage for the foreseen period. Cargo tariff rate depends on thetype of cargo, cargo handling technologies and cargo handling standard. The Cargo handling costsare: Ship costs at a port, Cargo handling costs at a port.Capital costs of a ship owner are first of all connected with the acquisition of a ship: ship purchasing costs; ship maintenance costs.Capital ship costs depend on the value of a ship and the way of acquisition. When a ship waspurchased using commercial bank credit, capital costs depends on the amount of a loan, loanconditions, type and term of loan repayment, interest payment and type of currency. During shipexploitation period capital costs are covered via amortization instalment system.139
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14. starptautiskÄ konference 2012 - Latvijas JÅ«ras akadÄmija

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14. starptautiskÄ konference 2012 - Latvijas JÅ«ras akadÄmija