DAILY OPERATING COSTS

SUBSIDIZED LINER VESSELS

CALENDAR YEARS 1990-96

FINAL

CONTAINER VESSELS

RECAPITULATION

1990

1991

1992

1993

1994

1995

1996

Total Number of Voyages

830.5

793.0

524.5

321.5

321.5

285.0

214.0

Nautical Miles/Voyage

6,583

6,938

9,230

12,829

12,486

12,571

9979

Voyage Days/Voyage

20

21

28

37

36

36

39

Sea Days/Voyage

14

15

21

29

28

28

29

DWT

24,944

25,851

29,156

32,751

32,499

34,054

31,076

TEU One-Way Capacity

1,646

1,694

1,996

2,400

2,380

2,507

2,277

TEUs Carried/Voyage

2,292

2,345

2,142

2,653

2,680

2,712

2,479

FPTs Carried/Voyage

27,033

49,864

41,377

51,058

49,955

49,442

29,561

AVERAGE MANNING:

Deck

13

13

14

13

13

13

12

Engine

11

11

10

9

10

9

9

Steward

5

5

5

4

4

4

4

Cadet & Other

1

1

2

1

1

0

0

TOTAL AVERAGE MANNING

30

30

31

27

28

26

25

WAGES PER VOYAGE DAY:

Straight Time

$3,022

$3,133

$3,191

$3,244

$3,305

$3,278

$3,204

Fixed Benefits

$4,701

$4,952

$5,106

$5,322

$5,363

$5,318

$5,393

Overtime

$2,551

$2,691

$2,776

$2,849

$2,965

$2,929

$2,719

Other

$998

$1,056

$1,041

$1,059

$1,149

$1,095

$1,407

EXPENSES PER VOYAGE DAY

VESSEL EXPENSE:

Wages

$11,272

$11,833

$12,113

$12,474

$12,783

$12,620

$12,724

Subsistence

$270

$283

$282

$264

$276

$279

$246

Stores, Supplies & Equipment

$625

$637

$656

$676

$720

$836

$656

Maintenance & Repairs

$3,064

$3,176

$3,164

$3,336

$3,098

$3,357

$2,874

Insurance

$1,895

$2,180

$2,280

$2,182

$2,409

$2,288

$2,385

Fuel

$8,313

$7,903

$7,010

$6,779

$7,296

$8,345

$8,159

Other Vessel Expenses

$1,276

$1,345

$195

$253

$242

$241

$377

TOTAL VESSEL EXPENSE

$26,715

$27,357

$25,700

$25,964

$26,824

$27,966

$27,421

Less ODS

$7,131

$7,316

$8,345

$9,706

$9,731

$9,792

$11,378

NET VESSEL EXPENSE

$19,584

$20,041

$17,355

$16,258

$17,093

$18,174

$16,043

PORT CALL EXPENSE

$4,574

$4,376

$5,570

$5,799

$5,560

$7,307

$3,749

CARGO EXPENSE:

Equipment

$12,564

$14,396

$13,325

$16,071

$17,660

$19,138

$8,078

Cargo Handling

$22,278

$22,904

$22,898

$23,414

$25,100

$25,767

$19,371

Cargo Freight Stations

$10,062

$10,394

$11,078

$15,017

$15,474

$19,073

$5,228

Cargo Transportation

$30,155

$33,904

$36,536

$43,781

$44,980

$45,155

$19,251

TOTAL CARGO EXPENSE

$75,059

$81,598

$83,837

$98,283

$103,214

$109,133

$51,928

CAPITAL EXPENSE:

Vessel Depreciation

$2,883

$3,008

$2,878

$3,002

$3,158

$3,157

$1,182

Vessel Interest Cost

$2,880

$2,711

$2,245

$2,451

$2,259

$2,280

$504

Charter Hire

$1,811

$1,885

$1,937

$2,439

$2,463

$3,624

$4,136

TOTAL CAPITAL EXPENSE

$7,574

$7,604

$7,060

$7,892

$7,880

$9,061

$5,822

EXPENSES PER VOYAGE DAY

$106,791

$113,619

$113,822

$128,232

$133,747

$143,675

$77,542

1/ LASH not included.

DAILY OPERATING COSTS

SUBSIDIZED LINER VESSELS

CALENDAR YEARS 1990-95

FINAL

BREAKBULK/LASH/RORO VESSELS

RECAPITULATION

1990

1991

1992

1993

1994

1995

Total Number of Voyages

343.5

322.5

234.5

64.0

59.0

27.0

Nautical Miles/Voyage

6,936

6,043

7,706

19,293

20,738

23,017

Voyage Days/Voyage

27

21

29

82

90

85

Sea Days/Voyage

16

13

18

48

52

59

DWT

17,365

17,893

18,584

20,718

22,820

33,348

TEU One-Way Capacity

787

872

973

202

189

200

TEUs Carried/Voyage

N/A

N/A

N/A

86

108

85

FPTs Carried/Voyage

47,832

31,666

44,516

25,885

27,545

39,287

AVERAGE MANNING:

Deck

13

13

13

14

15

15

Engine

11

12

10

12

13

12

Steward

6

5

6

6

6

5

Cadet & Other

1

1

2

1

1

0

TOTAL AVERAGE MANNING

31

31

31

33

35

32

WAGES PER VOYAGE DAY:

Straight Time

$2,704

$3,024

$3,189

$3,216

$3,291

$3,386

Fixed Benefits

$4,465

$4,978

$5,121

$5,304

$5,475

$5,262

Overtime

$2,318

$2,717

$2,893

$2,919

$2,887

$2,845

Other

$877

$1,019

$1,085

$1,652

$1,056

$939

EXPENSES PER VOYAGE DAY

VESSEL EXPENSE:

Wages

$10,364

$11,737

$12,287

$13,091

$12,709

$12,432

Subsistence

$273

$298

$285

$277

$273

$277

Stores, Supplies & Equipment

$530

$663

$641

$707

$667

$985

Maintenance & Repairs

$2,497

$3,077

$2,948

$2,722

$2,319

$2,982

Insurance

$2,011

$2,933

$2,676

$2,548

$2,773

$4,733

Fuel

$6,634

$7,415

$6,171

$4,396

$4,590

$8,144

Other Vessel Expenses

$554

$441

$488

$219

$332

$626

TOTAL VESSEL EXPENSE

$22,863

$26,564

$25,496

$23,960

$23,663

$30,179

Less ODS

$7,384

$6,915

$8,210

$12,079

$12,232

$14,498

NET VESSEL EXPENSE

$15,479

$19,649

$17,286

$11,881

$11,431

$15,681

PORT CALL EXPENSE

$3,815

$5,443

$4,993

$3,962

$3,894

$6,089

CARGO EXPENSE:

Equipment

$4,783

$6,425

$4,920

$2,377

$2,518

$4,701

Cargo Handling

$17,314

$21,727

$20,677

$11,918

$10,877

$19,155

Cargo Freight Stations

$1,367

$1,615

$427

$0

$0

$0

Cargo Transportation

$3,142

$3,983

$4,246

$2,909

$3,011

$3,278

TOTAL CARGO EXPENSE

$26,606

$33,750

$30,270

$17,204

$16,406

$27,134

CAPITAL EXPENSE:

Vessel Depreciation

$3,293

$4,305

$3,849

$1,342

$1,309

$103

Vessel Interest Cost

$2,653

$2,409

$1,767

$380

$296

$127

Charter Hire

$527

$952

$535

$677

$700

$1,466

TOTAL CAPITAL EXPENSE

$6,473

$7,666

$6,151

$2,399

$2,305

$1,696

EXPENSES PER VOYAGE DAY

$52,373

$66,508

$58,700

$35,446

$34,036

$50,600

1/ LASH not included.