DAILY RUNNING COST

Cost per day of operating a ship. It is the fixed cost per day which has to be incurred irrespective of whether a vessel is loading or performing a voyage. It is not conditioned on the quantity of cargo to be loaded, service pattern etc.,.DRC covers the following expenses: 1. Wages of all officers, crew, master etc. including medical and welfare expenses.2. Victualling expenses 3. Maintenance, repairs, stores, lubricants, water as well as expenses for periodical survey. 4. Overhead and administrative costs of office. Insurance including P & I Club etc. Most international companies issue world-wide price lists.