Improving the Method of Substantiating the Efficiency of a Vessel's Voyage


  • Yu. Koskina Odessa National Maritime University, Ukraine


Ключові слова:

tramp shipping, vessel's voyage, efficiency, voyage chartering, vvessel’s deadweight


Problem. The estimation of voyage efficiency is vital for a shipowner who operates the vessels in tramp shipping on carriages of cargoes. Developing the methods of voyage efficiency calculations should be oriented on different aspect of voyage performance and the voyage costs are one of the most important components as they are the component of the efficiency evaluations. Goal. The goal of the paper is the improvement of the methodological base on the evaluation of the vessel's voyage efficiency using the cost-based approach. Methodology. The voyage costs are presented as three components: fixed operating costs, bunker costs and disbursement costs. The ways of their calculating show the dependence of the costs on the vessel's details such as fuel consumption, NRT etc. That was the reason to propose to calculate the vessel's voyage expenses on 1 tn of her deadweight as far as all the vessel's details largely depend right on her deadweight. Such indicator will show the vessel's voyage efficiency based on the costs on different voyage distances whatever the carried cargo as far that voyage costs don’t depend on the cargo being carried but on vessels particulars. In a certain sense, that is why, it does not matter for the shipowner, what cargo is proposed to be carried. To make it possible to compare the proposed indicator with freight rate (to include the income component of voyage efficiency if necessary) it is proposed to apply the vessel's deadweight utilization indicator.  Results. The calculations were carried out for bulk-carrier of about 24000 tns of deadweight for voyage distances from 500 to 2000 nautical miles, and showed the adequacy and workability of the proposed method. Originality. Using the vessel's deadweight distinguishes the proposed indicator from other ones helping to evaluate the vessel's voyage efficiency for the shipowner whatever the cargo proposed to be carried. Practical value. The obtained indicator can be used in operating activity of shipping companies using the vessels in voyage chartering on carriages of cargoes. It can be applied as voyage expenses indicator of a particular vessel. The method is rather simple and flexible for revision for different vessels, voyage distances, bunker prices, port disbursements etc. In addition, it can be used as a freight rate idea during negotiations.

Біографія автора

Yu. Koskina, Odessa National Maritime University

Ph.D., Assoc. Prof.


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