Maintain Time Charter Contracts
The details of a Time Charter Contract (TC) can be viewed and edited under Chartering > Time Charter Contracts module. You can use the different filters in the list of Time Charter Contracts to find the Time Charter Contract you're seeking.
TC Contract Status
A Fixed / Not Fixed status chip now appears on the TC drawer, preventing a voyage from being nominated against a contract that is not confirmed yet.
TC In
Defaults to Not Fixed. Can be changed to Fixed at any time. Changing back to Not Fixed is blocked if an actual voyage (status Nominated or higher) is connected. Voyages cannot be nominated while the contract is Not Fixed.
TC Out
Status follows the voyage automatically. Status is set to Fixed once the TC Out voyage is set to nominated, otherwise Not Fixed.
Status is not manually editable.
Main Terms
The Main Terms section establishes the foundational identities and settings that govern the contract.
Company and Business Unit
Required. The internal company and business unit under which the contract is recorded. Determines the accounting and reporting context for the contract.
Charterer
The party chartering the vessel.
Owner
Required. The vessel owner providing the ship under the TC agreement.
Guarantor
Optional.
Vessel Operator
User which is the Operator of the contracted Vessel
Responsible Charterer
User which is the Resposible Charterer of the contract.
CP Date
The Charter Party date.
TC Type
The type of time charter contract.
CP Form
Bareboat
Checkbox. When selected, indicates this is a bareboat charter.
Financial Defaults
Hire Currency
Required. The currency in which hire payments are denominated. Defaults to USD.
Bunkers Currency
Required. The currency used for bunker cost settlement. Defaults to USD.
Address Commission
The address commission percentage.
Broker Commission
The broker commission percentage payable on hire amounts. Expressed as a percentage.
Ballast Bonus
Expressed in the hire currency. Defaults to 0.
ILOHC
In Lieu of Hold Cleaning — a lump-sum payment made instead of performing hold cleaning. Expressed in the hire currency. Defaults to 0.
Emission Pool
Associates the contract with an emissions pool for FuelEU.
Pool Deduction Percentage
Default percentage of Fuel EU cost deducted from voyage estimates for this vessel.
CVE (Crew and Victualling Expenses)
CVE fields record the cost allowance paid to the owner for crew and onboard victualling expenses.
CVE Text
A label describing the CVE allowance (e.g. "Meals & Cables"). Free-text entry.
CVE Amount
The monetary value of the CVE allowance per measurement period.
CVE Currency
The currency in which the CVE is expressed. Defaults to USD.
Every
The numeric frequency at which the CVE is payable.
CVE Measurement
The unit of frequency for CVE (Day or Month).
Laydays
Laydays Commence
The earliest date and time from which the vessel may be tendered for delivery under the contract.
Laydays Cancelling
The latest date and time by which delivery must occur.
Comments
A free-text field for internal notes or special terms that do not fit into structured fields.
Risk
The Risk section enables benchmarking of the contract against market rates.
TC Benchmark
A percentage weighting applied to the contract for benchmark comparison purposes. Defaults to 100%.
TC Benchmark Index
The market index against which the TC rate is benchmarked, for risk or reporting purposes.
Exposure Duration
The exposure duration used to categorise this contract for risk or reporting purposes.
Contract Delivery Terms
Delivery terms define the conditions under which the vessel is handed over to the charterer at the start of the charter period.
Contract Delivery Port
Required. The port at which the vessel is to be delivered to the charterer.
Contract Delivery Terms
The contractual delivery terms governing the handover.
Contract Delivery Range
A text description of the acceptable delivery range if a single port is not specified.
Contract Delivery Date
The contractual agreed date and time of vessel delivery.
Delivery Bunkers on Redelivery (ROB)
The bunker table at the bottom of the delivery section records the quantity and agreed price of bunkers remaining on board at the time of delivery. Click + to add a row.
Bunker Category
Fuel Category
Quantity (ROB)
The quantity of bunkers on board at delivery, in metric tonnes.
Price / MT
The agreed price per metric tonne for the on-board quantity.
Contract Redelivery Terms
Redelivery terms define the conditions under which the vessel is returned to the owner at the end of the charter period.
Contract Redelivery Port
Required. The port at which the vessel is to be redelivered to the owner.
Contract Redelivery Terms
The contractual redelivery terms governing the handover.
Contract Redelivery Range
A text description of the acceptable redelivery range if a single port is not specified.
Contract Redelivery Date
The expected date and time of vessel redelivery.
Redelivery Bunkers on Redelivery (ROB)
The bunker table records the agreed quantity and price of bunkers at redelivery. Click + to add a row.
Bunker Category
Fuel Category
Quantity (ROB)
The quantity of bunkers on board at redelivery, in metric tonnes.
Price / MT
The agreed price per metric tonne at redelivery.
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