The Estimator tool, available in Voyage Planner Pro, helps you calculate voyage costs and profit. Once you have selected a route (with one or more legs), click on “OPEN ESTIMATOR” to view the relevant information and fill in the table. If you are working on a computer, you can move throughout the Estimator using just the TAB button on your keyboard, for a faster workflow.
The top section contains an overview of key figures (also listed below) that are calculated based on your input below and is not editable. As you complete the available inputs, all calculations are dynamically re-run.
- TCE = Gross Profit / Total Time
- Asking Freight=
- Gross Freight = Freight Lumpsum (or Cargo x freight($/mt)) + Ballast Bonus (if any)
- Net Freight= Gross Freight - (%Commission from Gross Freight)
- Gross Costs= Bunker Costs + DA's + Insurance + Canals + Stevedoring + Other Costs
- Gross Profit= Net Freight - Gross Costs
- Net Daily= TCE - Running cost/day
- Total Time = Time at Sea + Time in Ports (i.e. Anch/Idle + Port/Work + Port/Idle)
- Bunker Costs = IFO cost + LSGO(ECA) cost + LSGO cost
Vessel Speed & Fuel Consumption
Here you can select a specific vessel (if you have not done so in the Map view). You may also choose between Single Speed or Multiple Speeds mode.
When in Single Speed mode, the speed is pre-populated with the one in Voyage Options (Left Panel in Map).
When in Multiple Speeds mode, you can create multiple Speed/Load condition profiles that should be useful for multi-leg voyages, where leg conditions differ.
The tool supports 3 different fuel consumption rates (mt/day):
- Normal fuel oil (IFO) of the primary engine
- Low-sulphur oil (LSGO) of the primary engine (used in ECA zone areas)
- Auxiliary engine oil (typically low-sulphur, LSGO)
For consumption At sea you may input fuel consumption in the Ballast Eco column (Single speed mode), which will apply to all Speed/Load conditions automatically or different values in each column, when in Multiple Speeds mode. You may also define distinct consumption rates In ports when idle and working.
Finally, to calculate Bunker costs, input prices for each fuel type.
Multiple Speed mode selector is disabled when "I want to estimate Speed" is selected in Voyage Options (Map view).
Revenue Estimation Settings
In this section you can select to calculate T/C Equivalent (TCE or Time Charter Equivalent) or Asking Freight.
Enter either a Lumpsum figure to be paid to you for the said voyage, or a Freight per million tonne (mt) and Cargo capacity (in which case the revenue, if the two figures are multiplied). You can also define a Ballast Bonus, which is added as extra offered revenue for the voyage by the charterer.
Enter Cargo capacity, Required TCE and a Ballast Bonus, if needed.
You can enter Commission percentage, Canals costs, Stevedoring costs, Insurance Premium costs, Other Costs and Running Cost/day (OPEX) for the vessel. All these figures (except Running Cost/day) are calculated as Gross Costs. OPEX costs are excluded only to calculate Net Daily.
This section contains details of the “At sea” parts of the voyage.
If consumption details have been entered earlier, calculations will be made as follows:
- IFO = Total Time at Sea * IFO consumption
- LSGO(ECA) = Time in ECA * LSGO consumption (the Time in ECA is deducted from the Total Time at Sea figure used in the IFO consumption calculation).
- In case AUXILIARY engine LSGO consumption has been entered, then Total Time at Sea * LSGO consumption will also be calculated in the LSGO field of this section.
Load Condition, Speed and Delay are disabled when:
- Single Speed mode is selected. To edit, you must switch to Multiple Speeds mode.
- "I want to estimate Speed" is selected in Voyage Options (Map view). To edit, you must switch base estimation mode in Voyage Options.
To account for weather delay expected, complete the Delay input in the form of a percentage. This will affect the operating speed used in all calculations per leg .
This section contains details of the “In ports” parts of the voyage.
You may select Operation per port if it serves you as a visual aid, but it will not affect any calculations.
The breakdown of Turnaround Time at each port is displayed here as the Anch/Idle and Port/Work inputs and are auto-filled.
You may manually amend Anch/Idle, Port/Work, and/or add Port/Idle. These three values will sync with the port Turnaround Times (Map view) as Custom Estimation entries. Alternatively, you could input Cargo(mt) and L/D rate (Loading/Discharge Rate) in which case the Port/Work time=Cargo * L/D rate.
Port terms factor indicates the number of work-hours/days of each port and affects the Port/Idle calculations as follows: Port/Idle = Port/Work * (7 - Port Terms factor) * Port Terms factor
Finally, you can input Port DAs to be included as a fixed cost for the port visit.