How to create an estimate for Owned vessel TC-Out (OVTC)

This guide explains estimating a time charter out for an owned vessel. 

Start clicking on the chartering in the main menu.

Click on the estimate.

A worksheet has been prepared for this purpose.

Click on it to open the default view of the estimation creation page. Switch to the tab view by clicking on the estimate ID.

Begin by filling in the basic details.

Select the vessel being charted out.

Choose the operation type.

Specify the ballast port.

Select the reposition port.

Indicate when the time charter will commence.

And when it will be complete.

If there are any miscellaneous revenue or expenses, enter that.

Now, move to the bunker section. Enter the bunker price for each fuel.

Proceed to the TCO hire section. Click on "add new row" to enter the hire rate.

Specify the rate type - whether it's per day, per hour, or monthly.

Enter the duration and the period, whether in days or hours.

Next, go to the TCO terms. Enter the delivery and redelivery port.

Enter the commission percentage, the ballast bonus, and whether the Ballast Bonus is commissionable.

Select the broker.

Choose the payment method - whether it's deducted from the hire, paid directly, or for the counterparty.

Scroll down to see the port itinerary details. After entering all the information, check for the PNL, and then click on "save".

Move on to the collapsed view.

This view provides a snapshot of all the entered information. It allows for the comparison of multiple scenarios and the selection of the best estimate for the voyage. For example, clone the estimate.

Change the hire rate if necessary. If there's a change in the ballast port, make the necessary adjustments.

With this, you can evaluate options and select an intended estimate that improves the chartering process.