Ship Management Survey for the second half of 2016

Thursday, 11 May 2017

The CBC has today published the results of the Ship Management Survey for the second half of 2016. The main developments concerning the transactions of resident ship management companies with non-residents, are summarised as follows:

  • Ship management revenues increased to €458 million during the second half of 2016, recording an increase by 6% when compared with the first half of 2016.
  • A large proportion of the services offered by the ship management companies concerned crew management services and technical (mechanical) ship operations and were provided to German companies (39%). In recent years there has also been an increase in the provision of services to companies in Switzerland, Singapore and Russia.
  • Payments of the industry abroad, which mainly comprised of crew wages (64%) and crew training expenses, also recorded an increase during this period.

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