Voyage Calculations
When a vessel seeks employment, she may have several different employment options available. In order to select the best option available, one needs to calculate revenue that the vessel generates daily for each option. From the figure calculated for generated revenue for an option, the ship owner or charterer can then calculate the daily surplus or shortfall in operating the vessel after deducting the operating costs for the vessel from revenue. The calculated daily surplus or shortfall of an employment option provides a ship owner with a yardstick to compare available options in a systematic and logical manner.
The ship owner can then choose the best employment option available for the vessel, based on this comparison.
To calculate revenue, the ship owner and/or charterer needs to do cargo calculations. These calculations indicate the revenue that a vessel will earn for the voyage based on the amount of cargo that she carries. By deducting the vessel’s operating costs from revenue earned, one can calculate the profit or loss for a voyage.