Proposed new or changed requirement
New fishing vessels and work boats (Class 2 and 3) that are less than 12m in length and will operate offshore will be required to have either a freeboard mark or a maximum loading placard on the vessel.
This cost item includes only those operators that will choose to have a maximum loading placard on the vessel. Passenger vessels (Class 1) in this category are already required to have a subdivision load line mark on the vessel, which is equivalent to the freeboard mark, and will not be affected.
Cost category: purchasing
Number of affected businesses per year: 98
Average annual cost or saving per business: $728.62
Total annual net cost: $71,115
Additional costs are based on an estimated average of 176 affected new vessels per year over a 10-year period, with an estimated average of 1.8 vessels per business (based on AMSA data).
The compliance cost to vessel operators includes the additional cost of an accredited marine surveyor (1 hour at $200 per hour), shipyard services (1 hour at $150 per hour), $50 for an engraver for the placard, and an estimated average of $50 for materials (based on average industry pricing).
For an estimated 30% of affected operators in this category who may choose to DIY the free board placard on their vessel, the cost of shipyard services is removed.
Time costs to operators have been excluded for most affected operators as this will be done by the accredited marine surveyor. For those small operators that choose to DIY, an estimated 1 hour and $80.50 per hour wage rate is used for Masters (based on publicly available national wage rates for masters of applicable vessels), including on-costs and overheads at standard OBPR rates.
For the estimated 40% of large affected operators that choose the DIY option (who will have other staff to arrange for the freeboard mark), an estimated 1 hour and the standard OBPR employed wage rate of $68.79 per hour is used, including on-costs and overheads.
Compliance costs are assumed to apply only once per vessel over a 10-year period.