22 BULK CARRIERS

22 TANKERS

The Freight Collection

Dept.

Managing day-to-day

Operational and Post

Fixture Activities

VESSEL’S EMPLOYMENT

CHARTERS

VOYAGE TIME

DEPARTMENT’S RESPONSIBILITES UNDER A VOYAGE CHARTER

VOYAGE CHARTER

FREIGHT

DEADFREIGHT (DRY CARGO) / MINIMUM QUANTITY (TANKERS)

LAYTIME CALCULATION

DEMURRAGE / DESPATCH

DEVIATION & DETENTION CLAIMS

SPEED-UP CLAIMS

HEAT-UP CLAIMS

CHARTERERS’ ACCOUNT ITEMS / EXPENSES

MONITORING ACCOUNTS RECEIVABLES

CHECK / APPROVE BROKERAGE COMMISSION INVOICES

PASSING FILES TO CLAIMS & INSURANCE DEPT.

THE CALCULATION & COLLECTION OF

FREIGHT

• USD / MT

Gross B(s)/L figures multiplied by the agreed freight rate – example:

USD 9 per MT

• LUMPSUM AMOUNT A fixed amount is agreed for

performing a specific voyage – example:

USD 1,500,000 for a voyage MED/FAR EAST

FREIGHT PAYMENT

DRY CARGO: THE FREIGHT IS USUALLY PAYABLE

BEFORE COMMENCEMENT OF CARGO DISCHARGE (BBB)

TANKERS: THE FREIGHT IS USUALLY PAYABLE AFTER COMPLETION

OF CARGO DISCHARGE

FREIGHT CALCULATION EXAMPLE (TANKER)

MIN QUANTITY 135,000.00

B/L QUANTITY: 142,956.096 MT

CP WS RATE: 70%

FLAT RATE:US$ 4.61/MT

OVERAGE: 50% OF THE AGREED WS RATE

DEBIT CREDIT

FREIGHT FOR 135,000.00 MT @ USD $4.61 PMT @ WS 70% $435,645.00

OVERAGE 7,956.096 MT @ USD $4.61 PMT @ WS 35% $12,837.16

ADDRESS COM. 1.25% $5,606.03

TOTALS: $448,482.16 $5,606.03

BALANCE DUE OWNERS $442,876.13 e. & o.e.

FREIGHT CALCULATION EXAMPLE (BULKER)

FREIGHT RATE: $30.50/MT

B/L QUANTITY: 35,200.00 MT BULK UREA RIGA/PARANAGUA

27,500.00 mts blk ammonium nitrate plus 7,700.00 mts blk urea Riga / Paranagua

FREIGHT INVOICE: US$

FREIGHT : 35,200.000 m tons @ $30.50 per mt 1,073,600.00

ADDRESS : On Freight 2.50% -26,840.00

BROKERAGE: On Freight 1.25% -13,420.00

BALANCE DUE OWNERS: 1,033,340.00

e+oe

FREIGHT CALCULATION EXAMPLE (LUMPSUM FREIGHT)

DEBITS CREDITS

LUMPSUM FREIGHT $1,310,000.00

ADDRESS COMMISION 2.50% $32,750.00

TOTALS : $1,310,000.00 $32,750.00

BALANCE DUE : OWNERS $1,277,250.00 E & EO

LAYTIME CALCULATION

• LAYTIME: LAYTIME CAN BE DEFINED AS THE TIME PERMITTED IN THE CONTRACT TO THE CHARTERER FOR

LOADING AND/OR DISCHARGING A VOYAGE CHARTERED SHIP.

• DEMURRAGE: IF THIS PERMITTED TIME IS EXCEEDED, THE SHIPOWNER OR OPERATOR OF THE SHIP IS ENTITLED

TO DAMAGES. THESE DAMAGES ARE NORMALLY AGREED TO BE “LIQUIDATED” THAT IS TO SAY A DAILY SUM

OF MONEY (PER DAY OR PRO RATA FOR A PART OF A DAY) WILL BE NEGOTIATED IN THE FORM OF DEMURRAGE

i.e. US$30,000.00/PRDPR.

• DESPATCH: IF THE VESSEL FINISHES BEFORE THE LAYTIME HAS BEEN USED, THE CHARTERER IS ENTITLED TO

A “REWARD” IN THE FORM OF PAYMENT OF “DESPATCH MONEY” –USUALLY PAYABLE AT HALF THE

DEMURRAGE RATE i.e. US$ 15,000.00/PDPR

• NOTE: NO DESPATCH IS APPLICABLE IN THE TANKERS TRADE.

• IMPORTANCE OF ACCURATE AND CORRECT LAYTIME CALCULATION:

CONSIDERABLE SUMS OF MONEY AT STAKE, WHICH WILL HAVE A NOTICEABLE EFFECT ON SHIP’S

PROFITABILITY.

• READ C/P CLAUSES, OBTAIN SOF/TIME SHEETS, ESTABLISH COMMENCEMENT OF LAYTIME, ALLOW FOR

EXCEPTIONS/INTERRUPTIONS, ESTABLISH CESSATION, CALCULATE DEMURRAGE or DESPATCH

• DISPUTES RESOLUTION: ARBITRATION / LITIGATION / MEDIATION / COMMON LAW

• BEING CONTINUOUSLY UPDATED OF THE LATEST MARITIME ARBITRATION AWARDS

CAREFUL STUDY OF THE RELEVANT C/P CLAUSES

LIAISON

WITH OPS DEPT, MASTER,

AGENTS

CAREFUL STUDY OF ALL AVAILABLE

INFORMATION: (SOF, TIME SHEETS,

EXCHANGES) LAYTIME

CALCULATION

DEPARTMENT’S RESPONSIBILITES UNDER A TIME CHARTER

TIME CHARTER

CALCULATION & COLLECTION

OF THE CHARTER

HIRE

BUNKERS ON DELIVERY

BUNKERS ON RE-DELIVERY

DEALING WITH

PERFORMANCE CLAIMS

DEALING WITH

OFF-HIRES & OTHER

DISPUTES

SPEED UNDER-

PERFORMANCE CLAIMS

BUNKER OVER-

CONSUMPTION CLAIMS

DELIVERY/ REDELIVERY

TIME, VESSEL’S HOLDS

CONDITION, BREAKDOWNS,

PORT EXPS

STEVEDORES DAMAGES

HIRE CALCULATION EXAMPLE

CREDIT $ DEBIT $

HIRE

FROM 20-Dec-01 20:30 GMT

TO 28-Dec-01 09:25 GMT

TOTAL 7.53819 days at $6,500 per day $48,998.26

COMMISSIONS 5.00% $2,449.91

BUNKERS ON DELIVERY

IFO 874.790 MT at $280 per MT $244,941.20

LSFO 202.654 MT at $350 per MT $70,928.90

MDO 119.994 MT at $520 per MT $62,396.88

BUNKERS ON REDELIVERY

IFO 857.400 MT at $280 per MT $240,072.00

LSFO 202.654 MT at $350 per MT $70,928.90

MDO 104.900 MT at $520 per MT $54,548.00

CHARTERERS EXPENSES

ILOHC (USD 4,000) $4,000.00

CAB/ENT/VICT USD 1,250/PMPR $314.09

TOTALS $367,998.81 $431,579.34

BALANCE DUE : OWNERS $63,580.52 E & O.E

PRELIMINARY FINAL HIRE STATEMENT

COOPERATION WITH OTHER DEPARTMENTS

CLAIMS DEPT

FINANCE

DEPT.

CONTROLLERS DEPT.

ACCOUNTS DEPT.

DISBURSMENTS DEPT.

CHARTERING DEPT.

OPERATIONS DEPT.

FREIGHT DEPT.

• OPERATIONS: DAILY LIAISON WITH OPERATIONS TEAM TO ENSURE THAT POST-FIXTURES MATTERS/ITEMS ARE CONCLUDED SMOOTHLY AND ACCORDING TO CHARTERPARTY TERMS & CONDITIONS

• CHARTERING: REVIEWING AND SUGGESTING AMENDMENDS IN C/P FINANCIAL TERMS AS WELL AS IN LAYTIME / DEMURRAGE CLAUSES. ALSO PROVIDING SUPPORT TO THE CHARTERING FOR AS MUCH AS POSSIBLE REALISTIC RUNNING OF VOYAGE ESTIMATES

• DISBURSMENTS: THE D/As PROVIDES TO THE FREIGHT DEPT. THE NECESSARY INVOICES AND SUPPORTING VOUCHERS TO BE CLAIMED BACK / REIMBURSED FROM CHARTERERS

• ACCOUNTS / CONTROLLERS: THE FREIGHT DEPT. PREPARES AND PROVIDES RELEVANT STATEMENTS AND LISTS WITH THE OUTSTANDING BALANCES / ACCOUNTS FOR MONITORING AND AUDITING PURPOSES

• FINANCE: THE FINANCE DEPT. ADVISES THE DAILY COLLECTIONS ENABLING THE FREIGHT DEPT. TO UPDATE ITS OUTSTANDING BALANCES / ACCOUNTS LISTS. THE FREIGHT DEPT. ALSO DRAW UP LISTS WITH THE EXPECTED RECEIVABLES NEEDED BY THE FINANCE FOR BUDGETING PURPOSES

• CLAIMS: PASSING CASES IN DISPUTE TO THE CLAIMS DEPT.

POSITION’S PROFILE

• ATTENTION TO DETAIL

•PROACTIVE

•GOOD NEGOTIATION SKILLS

•ABLE TO WORK UNDER PRESSURE

THANK YOU FOR YOUR

KIND ATTENTION