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Basis of calculation


Basis of calculation: All rate calculations, which are made in U.S. dollars, are per tonne for a full cargo for the standard vessel based upon a round voyage from loading port or ports to discharging port or ports and return to first loading port using the under-mentioned factors.

All of the factors shown are purely nominal and for rate calculation purposes only. In particular, the fixed hire element of US$20,000 per day is not intended to represent an actual level of operating costs, nor to produce rates providing a certain level of income or margin of profit, either for the standard vessel or for any other vessel under any flag.

(a) Standard Vessel Total Capacity 80,000 tonnes (i.e., the vessel’s capacity for cargo, plus stores, water, and bunkers, both voyage and reserve).
Average service speed: 12.5 knots
Bunker consumption steaming: 60 tonnes per day
Purposes other than steaming: 100 tonnes per round voyage
In port: five tonnes for each port involved in the voyage
Grade of fuel oil: 380 centistokes

(b) Port Time: Four days for a voyage from one loading port to one discharging port; an additional 12 hours being allowed for each extra port involved on a voyage.

(c) Fixed Hire Element: US$20,000 per day

(d) Bunker Price: US$150.00 per tonne
This price represents the average worldwide bunker price for fuel oil (380 cst) during September 2009 as assessed by Cockett Marine Oil Limited (of London).

(e) Port Costs: Port costs used are those assessed by the Worldseale Associations in the light of information available to them up to the end of September 2009, the rate of exchange used for converting costs in a local currency to U.S. dollars being the average applicable during September 2009.

(f) Canal Transit Time:
24 hours is allowed for each transit of the Panama Canal
30 hours is allowed for each transit of the Suez Canal.
Mileage is not taken into account in either case.

(g) Laytime: The fine allowed for loading and discharging shall be 72 hours and shall be subject to whatever qualifications, if any, in the charterparty.

(h) Route Policy/Distances
The following route indicators are used in the Schedule and when quoting rates:
C which means via Cape of Good Hope, laden and in ballast.
CS which means via Cape of Good Hope, laden, Suez Canal in ballast.
S which means via Suez Canal, laden and in ballast.
P which means via Panama Canal, laden and in ballast.
CP which means via Cape of Good Hope, laden, Panama Canal in ballast.
H which means via Cape Horn, laden and in ballast.
CH which means via Cape of Good Hope, laden and in ballast, and Cape Horn, laden and in ballast.



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