About us

Shipcosts is an innovative company to assist shipping and offshore industry to optimize vessels operating expenses (OPEX) by digital high-tech tools. By categorizing the costs and understanding the drivers behind each category, we identify the innovative solutions for optimizing vessels operating expenses. 

We provide expert advice on optimization, estimation, and control of the following costs categories: crew wages, crew travel costs, training and medical, crew communication costs, sundry crew change costs, maintenance and repair, insurance and P&I costs, spares, stores and lubes, and other sundry costs.

Our specialists have considerable international experience in ship management, crew management, IT and ship finance. Norway has always been ahead of the other countries in new technology and innovation, and we strongly believe that in the adverse current market conditions, traditional cost-cutting solutions must be abandoned, and new innovative approaches are to be taken. 

Within recent years a lot has been done by shipping and oil & gas companies in terms of cost optimization. Unfortunately, many companies had to apply reactive short-term measures for a fleet management, such as laying off personnel, laying-up vessels, postponing ship maintenance and freezing any business developments.

We truly believe that in the adverse current market conditions, traditional cost-cutting solutions must be abandoned and new innovative approaches are to be taken. To deliver the desired result of cost optimization, the strategy of digitalization should be in line with the smart cost management. This will significantly reduce the risk of compromising quality and safety of the crew, assets and the environment.

Last but not the least, it is important to realize the real challenges the company faces, to know problems from the inside. It can be achieved by united efforts of experts in ship management, ship finance and IT.

Shipping companies with a high percentage of offshore vessels in the fleet were most hit by the industry crisis, and they are still under the pressure of applying further cost reduction measures. As crewing costs are the major cost center within the OPEX, crew resource management has been the hot topic for the discussion. Ship management and crewing companies had to balance between keeping qualified trained marine and offshore personnel, and the pressure to reduce the salary level. 

We suggest to categorize vessel operating expenses and by analyzing drivers behind each cost category, to identify the categories of the costs which can be improved via innovation and digitalization.

By inviting independent maritime consultants to provide professional advice on OPEX optimization, the company can consider its business processes from another angle, with broader experience and better benchmarking.

We structure our pricing model to be flexible and appropriate for the specific situation. “No savings no fee” model or fixed price model can be chosen. 

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