Table 5.4 shows a typical periodic maintenance schedule for a standard Capesize
bulk carrier. It covers the interim dry dockings and the special surveys. In total
eighteen cost areas are covered. Some, such as the cost of using the dry dock
($35,000) do not vary with age, but others such as steel replacement, work on the
hatch covers and the main engines increase very rapidly as the ship gets older. In
this example the periodic cost increases from $586,000 at 5-years old to $1,579,000
at 20-years. Naturally this depends on the ship. Owners who operate preventive
maintenance policies may incur lower costs, while for ships in poor condition the
cost may be much higher