CLARKSONS Methods and Soruces for Voyage Estimations

Shipping Intelligence Weekly - Sources, Methods & Definitions

Clarkson Research Services 1 October 2010

Sources & Methods for the

Shipping Intelligence Weekly

These Sources & Methods are part of the Clarksons Quality System registered under BS EN ISO 9002:1994 by BSI. Certificate no. FS 30573.

Updated: October 2010



Shipping Intelligence Weekly (SIW) is published on a Friday (or earlier if public holidays demand) fifty times a year (excluding Easter and Christmas weeks). Dedicated files are updated every week with the latest available data whether its frequency is weekly, monthly or longer. Sources of information are both internal and external. Internal data is gathered from Clarkson Research databases or from H. Clarkson brokers. External data is gathered from a variety of published sources. All data and informa-tion in this report is as reported up to noon on the date of publication. The data is being continually as-sessed, and changes may occur to historical time series. All the data in SIW is available through the Shipping Intelligence Network (www.clarksons.net) in Excel compatible time series. Cover ClarkSea Index: The ClarkSea Index is the only published weekly indicator of earnings for all the main commercial vessel types. It is weighted according to the number of vessels in each fleet sector. Clarksons Research collects rates direct from the Clarksons brokers on a daily and weekly basis and these are used to calculate the earnings that go to make up the ClarkSea Index. The sectors in the Clark-Sea Index are oil tankers (VLCC, Suezmax, Aframax and clean product carriers), dry bulk carriers (Capesize, Panamax, Handymax and Handysize, gas carriers (VLGC) and fully cellular containerships. The ClarkSea Index is published in graphical/numerical form on the front page of the Clarksons Ship-ping Intelligence Weekly (SIW) and as a downloadable time series and graph on SIN – Shipping Intel-ligence Network (www.clarksons.net). 1. Freight Rates (pp. 2-7,9) Spot rates (pp.2-5): Currently, information for 49 tanker and 34 bulkcarrier spot voyages (see Annex 2) are collected on a weekly basis and form a database stretching back, in some cases, over 30 years. This is done with the assistance of H. Clarkson & Co. brokers who fill in pro-formas prepared each week by Clarkson Research showing the previous week’s rates. Tripcharter rates for four routes for a 45,000 dwt Handymax vessel, four routes for a 52,000 dwt Handymax vessel and four routes for a 74,000 dwt Panamax vessel, all of which are based on the standard specifications of BIFFEX vessels (see Annex 3), are also collected in this way. Best estimates of likely fixing levels are provided where no market fixture is made. Currently, rates are expressed in Worldscale (WS) for tanker voyages; $/tonne for dry cargo spot voyages (historically, some rates were quoted in $/(long) ton); and $/day for dry cargo trip-charters. Spot rates (p.6): Spot gas and chemical voyage rates are also collected on a weekly basis with the assis-tance of H. Clarkson & Co. brokers who fill in pro-formas prepared each week by Clarkson Research showing the previous week’s rates. Although some rates have historically been quoted in $/(long) ton, they are all now expressed in $/metric tonne, as is the custom of the trade. Spot rates (p.7): Short Sea rates are provided by H.C. Shipping & Chartering Ltd in Hull, UK, a fully owned subsidiary of H. Clarkson & Co. Rates for offshore vessels (in £/day) are averages of reported fixtures in the respective market sectors as supplied by One Offshore UK Ltd. Liner market charter rates (in $/day) are provided on a monthly basis by H.Clarkson brokers who fill in pro-formas prepared each month by Clarkson Research showing the previous month’s rate. Earnings (pp.2-4): Earnings are estimated as daily timecharter equivalents (TCEs) of voyage freight rates, and expressed in $/day on the voyage. In broad terms, earnings for each route are calculated by taking the total revenue, deducting current bunker costs based on prices at representative regional bun-ker ports (as provided by the OceanConnect bunker brokering desk) and estimated port costs (after cur-rency adjustments) and then dividing the result by the number of voyage days. Details of the calcula-tions and their constituent parameter and assumptions are set out in more detail in Annexes 1-4.



Earnings are calculated on the basis of standard ship types (listed in Annex 3). For all crude oil and dry bulk routes, earnings are estimated for a modern and an older standard ship. Earnings for both are cal-culated based on a single freight rate (for modern tonnage). Only earnings based on the most modern vessel are published in full in the SIW. The averages for older Capesize and Panamax vessels are also published. For tankers, average earnings for each ship type (“Ave. Earnings”) are averages of the voyage earnings for selected routes, as indicated on the page. Average earnings for both the Capesize and Panamax bulk carrier sectors are simple averages across all the recorded individual voyages for that vessel type. Certain factors are not accounted for in the earnings calculations. These include: (i) the payment of commission. (ii) other voyage-related costs. (iii) vessel waiting time at port. (iv) time the vessel is off-hire. TCEs of voyage freight rates are also collected for two LPG voyages. These rates are quoted in $ ‘000/month by the brokers, but are converted into $/day for publication on page 6. It is important to note that these earnings calculations are only intended as benchmark indicators of the direction of the market. As such, they should not be taken to represent the precise earnings of specific vessels. However, it is possible to tailor these statistics through Clarksons Consultancy Division. For more information, please contact our consultancy team by email at [email protected]. The assumptions and standard ship types used in the timecharter equivalent earnings calculations are reviewed on a regular basis by Clarkson Research and H. Clarkson brokers, and updates are made available in this document. Comments on these assumptions and the resultant earnings calculation are welcome from users of the data, although it is important to note that the assumptions used in the calcu-lations are just one of a range of possible assumptions, that other sources of earnings information may use alternative assumptions, and that the use of different assumptions can potentially make a significant difference to the results of earnings calculations. For both the tanker and bulk carrier markets, rates are collected and earnings calculated for routes that are not published in SIW. All this additional data is available through the Shipping Intelligence Net-work in Excel compatible time series. Biffex (p.5): A database is maintained of the daily Baltic Freight Indices and the rates of their compo-nent routes as published by the Baltic Exchange. The rates published every week are from the preced-ing Thursday, or from the nearest available date. For details of the Baltic Exchange Indices (BPI, BDI, BHMI, BCI, etc.) see www.balticexchange.com. FFA Indications are as reported by Clarksons Securities Ltd. at the close of business the preceding Thursday, or the nearest available date. In the table of FFA Indications, the BPI 1A TransAtlantic R/V ($/day) was replaced on 21st November 2003 by the more liquid BCI 7 Bolivar/Rotterdam ($/tonne). Timecharters (p.9): Timecharter data is collected in two primary ways: (i) One year, three year and five year tanker rates, expressed in $/day, are collected on a weekly basis for average ship types. In the dry bulk sector, data is collected for all of these rates, plus a six month rate as well. The ship types for which rates are collected are specified on page 9 of SIW.



Specifications of timecharter ships on page 9 of SIW: (a) “CSBC” is China Shipbuilding Corporation of Taiwan style of Capesize built in the

1980s and 1990s of approximately 149,500 dwt. (b) The Handysize dry bulk carrier is a ‘modern’ vessel, between 28-30,000 dwt and fitted

with cranes between 25-30 tonnes. (c) The Handymax is 45,000 dwt, between 5-10 years old. This was 40,000 dwt until Feb-

ruary 2002. (d) The Super Handymax (“Supramax”) is a 52,000 dwt ‘modern’ vessel. Note: 1. ‘Modern’ is taken to mean no more than ten years old. 2. The above specifications are meant to be guidelines only, and not actual ships. With respect to timecharter rates, data is collected in the same way as for spot market rates; namely, by requesting brokers to fill in a weekly pro-forma with the latest rate for each ship type or by estimating the likely rate acceptable to an owner in the absence of any fixtures. Capesize and Panamax bulkcarrier timecharter rates are the average of quotations for Atlantic and Pacific delivery, redelivery worldwide. Handymax bulkcarrier timecharter rates are the average of Atlantic delivery/redelivery and Pacific de-livery/redelivery. This data is cross checked with the timecharter matrices that both the tanker and bulk carrier broker desks publish each week. Timecharter rates are also collected for over 10 LPG voyages. These rates are quoted in $ ‘000/month by the brokers, but are converted into $/day for publication on page 6. (ii) Details of all reported tanker and bulk carrier timecharter fixtures (and gas fixtures) are recorded in the Clarkson Research commercial database. This data is sourced from available published sources and cross checked with information gathered by H. Clarkson brokers in the course of their business. Activ-ity in the timecharter market, recorded as the number of fixtures for periods of one year or more, is gen-erated from this and reported alongside average timecharter rates for tankers and bulkcarriers on page 9 of SIW. 2. Ship Prices (pp.8, i-ii, 10-11) Secondhand Sales & Prices (pp.8, i-ii): Prices for secondhand vessels are collated in conjunction with H. Clarkson & Co. sale and purchase brokers who fill in pro-formas prepared by Clarkson Re-search showing the previous week’s levels. Prices are collected for various sizes and ages of vessels for the main vessel types and relate to market sales where these have taken place and to brokers best esti-mates when no sale has occurred. Prices are for standard ships of the types described in average condi-tion, built at good Far East/European shipyards but with no account taken for survey status or condition which could affect values. All data is collected on a weekly basis, and maintained as a database of month-end prices. Time series of these prices stretch back over 30 years for some vessels. In general, prices are expressed in US$ mil-lion, but for individual sales maintained in the Clarkson Research Ship Sales Database other currencies may be specified. In SIW, this is particularly relevant to Ro-Ro vessels, where sales are quoted in Eu-ros. This sales data is sourced from market information provided by H. Clarkson brokers and from pub-lished material. An extract of the most recent of these sales by vessel type, including the latest sale of each ship type/size is displayed on page ii of SIW. In recent years, numerous changes/updates have been made to the existing time series, all of which have been noted on page 8. Please note that because the vessel sizes assigned to each type are represen-tative benchmarks, they are adjusted in accordance with variances in the market. Generally, these changes will be amalgamated into existing time series. The Clarkson 5-year-old Secondhand Price Indices are calculated by averaging the $ per dwt values of



the various 5-year-old ships. The base of 100 is taken as the average index value as of January 2000. Between October 2008 and January 2010, CRSL did not publish benchmark values and users should be aware that this was a period of transition in the Sale and Purchase markets, characterised by spells of rapidly changing price levels, low levels of sales activity and a wide spread of price ideas. During this period, the data should be treated with caution as confidence limits will vary over time and between sectors. See Annex 5 for more details. The Clarkson Ship Sales Database provides the source data for establishing the volume of sales activity by ship type/size and by buyer and the value of sales which is set out on a monthly basis on page i of SIW. Newbuilding Contracts & Prices (p.10): The procedures for collecting and collating newbuilding prices are the same as those for secondhand prices. They are collated on a weekly basis in conjunction with H. Clarkson & Co. sale and purchase brokers who fill in pro-formas prepared by Clarkson Re-search showing the previous week’s levels. Prices are collected for various sizes of newbuildings for the main vessel types. These relate to concluded contracts when possible and to brokers’ best estimates when none have occurred. Prices are for ships of a “European Spec”, 5x 20% payments and “first class competitive yards” quotations. It is also important to note that these newbuilding prices are benchmark values and prices will vary according to country of build, delivery and ship specification. All data is collected on a weekly basis, and maintained as a database of month-end ship prices. Time series of these prices stretch back over 30 years for some vessels. In general, prices are expressed in US$ million, but for individual sales maintained in the Clarkson Research Ship Sales Database other currencies may be specified. Note, that for newly delivered vessels, the originally reported contract price is quoted where available (see page iii of SIW). Details of actual newbuilding contracts and overall activity are maintained in the Clarkson Research Newbuilding Database, either as unconfirmed orders, options or confirmed orders along with the re-ported price level and currency when this is available. Data is also sourced from external published material. However, only confirmed contracts are published in the SIW. The Clarkson Newbuilding Price Index is calculated by averaging the $ per dwt values of the various ship types. The base of 100 is taken as the average index value as of January 1988. Demolition Sales & Prices (p. 11): The procedures for collecting scrap prices are the same as those for secondhand and newbuilding prices. They are collated on a weekly basis in conjunction with H. Clarkson & Co. sale and purchase brokers who fill in pro-formas prepared by Clarkson Research show-ing the previous week’s levels. Prices are collected for a range of ship types and scrapping locations (e.g. “|China”, “India” and “Bangladesh”). The prices that are quoted are related to market sales where they have taken place and to brokers’ best estimates when no sale has occurred. All data is collected on a weekly basis, and maintained as a database of month-end prices. Time series of these prices stretch back over 40 years in some instances. Eighteen separate prices expressed in terms $ per lightweight ton (ldt) are collected every week for a range of ship types and scrapping loca-tions (i.e. The “Far East” and the “Indian sub-Continent”). The values published in SIW are based on prices on the Indian sub-Continent for both tankers (based on a VLCC) and dry cargo vessels (based on a handy dry bulkcarrier of around 8,000 ldt). The additional values are available through the Shipping Intelligence Network in Excel compatible time series. Information on actual demolition sales is based on market information provided by H. Clarkson bro-kers and is checked and validated by reference to a range of published sources. It is stored on the Clark-son Ship Database. It includes data such as the vessels’ lightweights, the buyer and eventual breaker, its



reported sale price in $/ldt and its estimated value in $ million. Latest sales are listed in the table on pages iii and 11 of SIW. The Database is used as the source material for the tables of demolition activ-ity, by buyer and by ship type/size. 3. Economic & Financial Data (p.12) Economic and financial data e.g. GDP (historical and forecast), industrial production growth rates, ex-change rates, forward buying rates, interest rates, inflation rates and commodity prices are all sourced from recognised business, governmental and international organisations as well as the financial and commodity press on a weekly, monthly, quarterly or annual basis depending on availability. Our sources for this information include the Financial Times, The Economist, OECD, the IMF, Petroleum Intelligence Weekly, International Grain Council and Metal Bulletin. 4. Trade Data (p.13) Data on the main oil and dry cargo trades is sourced from a multitude of recognised business, commod-ity, governmental and international organisations on a monthly, quarterly or annual basis depending on availability. It is published as soon as it becomes available. (i) Sources of information used for oil and oil related data include: Petroleum Intelligence Weekly and sister publications, Exxon, BP, Monthly Energy Review of the EIA, Bulletin Mensuel, Eurostat, Tex Report and Petroleum Association of Japan. (ii) Sources of data for the dry cargo trades include: International Iron & Steel Institute, Tex Report, Australian Bureau of Statistics, Eurostat, National Coal Association (USA), Coal & Coke Statistics (Canada), Joint Coal Board (Australia), South African Coal Report, International Wheat Council, US Department of Agriculture publications, and other national custom statistics organisations. Statistics are taken only from published data and no use is made of confidential information obtained by Clarkson Research in the course of its business. Data is compiled into time series which are used to project future trade flows on an annualised basis and ship demand. 5. Fleet Data (p.14-15) All historical and current data on the fleet, changes in the fleet and the orderbook for tankers, bulkcar-riers, combined carriers, gas vessels, cellular containerships, multi-purpose vessels, general cargo, ro-ro vessels, car carriers, reefer vessels and offshore vessels is compiled by the Clarkson Research Statistics Department. Information is continuously updated through consultation with the H. Clarkson broking network and through questionnaires and direct contacts with shipowners and shipyards. Checking and validation is carried out with reference to a range of published sources. Regular follow-up surveys en-sure the quality and completeness of data is continuously improved. Data collection and validation is carried out in accordance with the Clarkson Procedure CR/OPR/301. Clarkson’s quality systems are ISO 9002 compliant. The system provides for monthly validations of the data, with closure at the end of each month and output reported correct as at the beginning of the fol-lowing month. These procedures provide for one of the only sources of regular monthly updates of fleet data. Fleet data for tankers, combos and bulkcarriers are measured in metric tonnes. All fleet data is adjusted retrospectively for minor miscellaneous changes in the fleet when necessary. 6. Fleet Activity (p.14) Combined Carriers: An analysis of the trading activity of combined carriers is made each month.



Movements of all combined carriers are checked and an assessment made of the trades in which the vessels are operating as at the first of each month based on its ports of call. A vessel is assumed to be in a particular trade from the time it loads a cargo until it reached another load port. The trades to which a vessel is allocated are either oil or one of four categories of dry bulk trades i.e. iron ore, coal, grain or others. If a vessel is laid-up or otherwise inactive this is also recorded. If there is ambiguity concerning which cargo a vessel is carrying based on its ports of call, the market knowledge of H. Clarkson brokers and their access to owner information is relied upon. Once the data for each vessel has been recorded it is linked with data from the Clarkson Research Ships Database and a routine analysis is carried out that demarcates the trading activity of the fleet into trades by ship type and size in terms of both numbers of ships and deadweight. A monthly historical record of the trading pattern of the fleet is maintained.

Inactive Tonnage: The Clarkson Research Statistics Department make weekly checks on the activity status of the tanker, combined carrier and bulkcarrier fleets. Non-trading codes are allocated to the rele-vant vessels within the Clarkson Research Ships Database, indicating whether it is: (i) damaged and out of service. (ii) idle and awaiting orders in the Arabian Gulf (4 weeks or more). (iii) Idle for more than six weeks. (iv) laid-up. (v) in long term storage (more than 60 days). (vi) being repaired. Information on ships that are damaged, scrapped or sent for repair is sourced primarily from publicly available industry reports, such as the shipping press, and is subsequently checked and validated. Infor-mation on tonnage that is idle, laid-up or in storage is sourced primarily from broker information, fix-ture records and other industry sources/publications.

Note: Clarkson Research is registered for ISO 9002. All data collection and processing is carried out in accordance with documented procedures on database maintenance, publication and infor-mation handling contained in the Clarkson Research Operating Handbook.



The purpose of the TCEs is to provide readers with an estimate of the daily earnings of ships implied by the current level of spot freight rates. The calculated earnings relate to voyages only. They take no ac-count of any waiting or off-hire time. For tankers, round voyages are assumed for all, except routes T58/T66, T77/T78 and T80/T81; for bulk carriers, different voyage patterns are assumed depending on the route (see Annex 2). For all crude oil and dry bulk routes earnings are estimated for more than one standard ship, though only those for the most modern vessel are published in full in the SIW. With respect to the earnings for the older vessels, only the averages for the bulk carrier routes of each vessel type are published in the SIW. 1. Routes Covered: Timecharter equivalent estimates are currently prepared each week by Clarkson Research for 143 tanker and bulkcarrier voyage/ship combinations. This information is laid out in detail in Annex 2(a) and 2(d). Annex 2 also outlines and tracks the development of the routes that were used prior to the current selection. 2. Ship Types Covered: The average earnings calculations are based on a set of 22 representative ships. The representative ship types were selected, after consultation with H. Clarkson brokers, to provide a fair indication of the “typical” vessel being chartered on each route. A range of these “typical vessels”, extracted from the Clarkson Research ship database, were then analysed to provide average ship char-acteristics. Details of the representative ships are listed in Annex 3. Annex 3 also outlines and tracks the development of the vessel assumptions that were used prior to the current selection. 3. Timecharter Equivalent Calculation: Each week, the TCEs are calculated using a voyage estimating programme. Annex 4 outlines the calculations. The key parameters in the equations are: (i) Freight rates: although freight rates for some dry cargo routes have historically been quoted in $/long ton, all dry cargo rates are currently expressed in $/tonne, as is the custom of the trade. Tanker rates are converted from Worldscale using the Worldscale flat rate taken from the Worldscale website, as published on 1st January of each calendar year. Please note that the Worldscale flat rates are subject to revision as noted in the periodic distribution of Worldscale circulars. (ii) Cargo loaded: these are predetermined and where relevant are based on the restrictions of the vessel (e.g. cubic capacity), the load and/or discharge ports (draft restrictions) or canal restrictions (draft, beam). Cargo quantity is shown in Annex 2, column 4. The cargo sizes are intended to represent the most common quantity currently prevalent on that particular route. (iii) Port costs: the total port cost for each voyage is calculated as the sum of loading and discharge costs for the specified cargo size and ship type. The sources used to determine these figures range from the ports themselves via questionnaires, owners via Clarkson brokers and for tankers, the Intertanko website. The costs are then converted from the local currency to US dollars at the current exchange rate and updated at the start of every month. (iv) Canal costs: when a voyage involves passage through a canal, the costs are added. (v) Sea Time: calculated from the voyage distance (taken from BP distance tables and Worldscale Books) and the vessel speed, plus a sea margin of 5% and any additional time for a canal transit. (vi) Port time: is calculated as an average of two days loading and two days discharging for tanker voy-ages. For the bulk trades, the total port time is determined by the actual experiences of the trade as ad-vised by the H. Clarkson & Co. brokers. Turn time is also added when relevant, see Annex 2. (vii) Bunker prices: these are taken from the Thursday edition of the OceanConnect Bunker Price Re-

Annex 1 - Earnings Calculations



port. For each geographical region, a representative bunker port has been selected and one or more is allocated to each route as appropriate. The voyage estimating programme first calculates the time the voyage takes in days. It then computes the net revenue earned on the voyage, after deducting total fuel/bunker costs, port costs and canal charges from the total freight revenue. The average earnings in $ per day is computed by dividing this net earnings by days for the voyage. The calculated earnings are for a single voyage only and do not include any allowance for waiting time, delays or off-hire time. 4. Speed: No attempt is made to optimise earnings by adjusting speed in response to movement in bun-ker prices or freight rates. See Annex 3. 5. Consumption: For each vessel type, standard consumption values for laden and ballast voyages and time in port have been used. See Annex 3. 6. Ballast Voyages: For tankers the vessel is assumed to return to its loading port in ballast after dis-charge, except for routes T58/T66, T77/T78 and T80/T81. For some dry cargo routes, a shorter ballast voyage is used where this is considered to be realistic. A list of the laden and ballast distances used in the calculation is contained in Annex 2. 7. Commission: No commission charge is included. 8. Procedure for Updating Freight Rates: Tanker and dry cargo freight rates on the 83 routes are up-dated on Thursday afternoon/Friday morning each week by the H. Clarkson & Co. brokers. Where there has been no actual fixture on a particular route, an estimate is provided. For each market sector updating is carried out by the H. Clarkson & Co. desk trading in that specific ship size. 9. Updating Procedure: The updated freight rates are entered into the computer programme on Thurs-day evening/Friday morning each week. Estimates are then checked by the editor of SIW. 10. Voyage Earnings Calculations: A print-out of the basic voyage estimating equation for tankers and bulk carriers is contained in Annex 4. 11. Validation of Programme: All possible measures have been taken to ensure that the opportunity of any inadvertent corruption to our production process has been minimised. There are also numerous safeguards in place to prevent persistent errors. 12. Other Freight Information: In addition to the freight rates for the above 143 voyage routes, data for 12 bulkcarrier tripcharter routes, 44 bulkcarrier period timecharters and 24 tanker period timechar-ters are collected. Clarkson brokers provide on a weekly basis all the period timecharter rates and the rates for the 12 tripcharter routes; data. Freight rates for other specialised markets are also collected including: spot rates and earnings and timecharter rates for LPG routes and vessels; spot freight rates for chemical cargoes; spot freight rates for short sea cargoes, spot daily charter hire rates for offshore service vessels; daily hire rates and period charter rates for a variety of liner vessels. 13. Stem Sizes: Sometimes the quoted cargo size moves slightly out of line with accepted practice. In order to avoid constantly changing the cargo size, and unnecessarily disturb the time series, we ask the brokers to continue to quote on a rate but as a pro rota.

Annex 1 - Earnings Calculations, continued…

Note: Clarkson Research is registered for ISO 9002. All data collection and processing is carried out in accordance with documented procedures on database maintenance, publication and infor-mation handling contained in the Clarkson Research Operating Handbook.



Annex 2(a) - Tanker Voyage Details (2004 Onwards)

CRS Voyages Cargo CRS Voyage Dist. Voyage Time - Days Total Oper.No. Load Discharge Size Ship Miles Sea Sea Port Turn Canal Voyage Speed

Tonnes No. Laden Ballast Time Margin Time Time Transit Time Knots (L/B)

T7 Ras Tanura - Rotterdam 270,000 3 11,170 11,170 66.5 3.3 4.0 73.8 14.0/14.0T8 Ras Tanura - Chiba 250,000 3 6,605 6,605 39.3 2.0 4.0 45.3 14.0/14.0T9 Ras Tanura - Ain Sukhna 270,000 3 3,061 3,061 18.2 0.9 4.0 23.1 14.0/14.0

T10 Sidi Kerir - Rotterdam 270,000 3 3,159 3,159 18.8 0.9 4.0 23.7 14.0/14.0T11 Ras Tanura - Ulsan 250,000 3 6,216 6,216 37.0 1.9 4.0 42.9 14.0/14.0T35 Ras Tanura - LOOP 270,000 3 12,225 12,225 72.8 3.6 4.0 80.4 14.0/14.0T36 Ras Tanura - Singapore 260,000 3 3,702 3,702 22.0 1.1 4.0 27.1 14.0/14.0T37 Bonny Offshore - LOOP 260,000 3 5,912 5,912 35.2 1.8 4.0 41.0 14.0/14.0T38 Bonny Offshore - Kaoshiung 260,000 3 9,440 9,440 56.2 2.8 4.0 63.0 14.0/14.0T76 Bonny Offshore - Jamnagar 260,000 3 7,075 7,075 42.1 2.1 4.0 48.2 14.0/14.0T77 Rotterdam - Singapore 270,000 3 11,866 3,730 46.4 2.3 4.0 52.7 14.0/14.0T78 Bonaire - Singapore 270,000 3 10,767 3,730 43.1 2.2 4.0 49.3 14.0/14.0

T39 Ras Tanura - Rotterdam Gulf-Europe 280,000 2 11,170 11,170 62.1 3.1 4.0 69.2 15.0/15.0T40 Ras Tanura - Chiba Gulf-Japan 265,000 2 6,605 6,605 36.7 1.8 4.0 42.5 15.0/15.0T41 Ras Tanura - Ain Sukhna Gulf-Red Sea 280,000 2 3,061 3,061 17.0 0.9 4.0 21.9 15.0/15.0T42 Sidi Kerir - Rotterdam Med-UKC 280,000 2 3,159 3,159 17.6 0.9 4.0 22.4 15.0/15.0T43 Ras Tanura - Ulsan Gulf-S.Korea 265,000 2 6,216 6,216 34.5 1.7 4.0 40.3 15.0/15.0T44 Ras Tanura - LOOP Gulf-US Gulf 280,000 2 12,225 12,225 67.9 3.4 4.0 75.3 15.0/15.0T45 Ras Tanura - Singapore Gulf-Sing 270,000 2 3,702 3,702 20.6 1.0 4.0 25.6 15.0/15.0T46 Bonny Offshore - LOOP WAF-US Gulf 260,000 2 5,912 5,912 32.8 1.6 4.0 38.5 15.0/15.0T47 Bonny Offshore - Kaoshiung WAF-East 260,000 2 9,440 9,440 52.4 2.6 4.0 59.1 15.0/15.0T79 Bonny Offshore - Jamnagar WAF-WCIndia 260,000 2 7,075 7,075 39.3 2.0 4.0 45.3 15.0/15.0T80 Rotterdam - Singapore 275,000 2 11,866 3,730 43.3 2.2 4.0 49.5 15.0/15.0T81 Bonaire - Singapore 275,000 2 10,767 3,730 40.3 2.0 4.0 46.3 15.0/15.0

T12 Sidi Kerir - Lavera 130,000 5 1,420 1,420 8.9 0.4 4.0 13.4 13.0/13.5T13 Bonny Offshore - Philadelphia 130,000 5 5,184 5,184 32.6 1.6 4.0 38.2 13.0/13.5T14 Ras Tanura - Huizhou 130,000 5 5,159 5,159 32.5 1.6 4.0 38.1 13.0/13.5T82 Bonny Offshore - Lavera 130,000 5 4,070 4,070 25.6 1.3 4.0 30.9 13.0/13.5

T49 Sidi Kerir - Lavera Med-Med 130,000 4 1,420 1,420 7.9 0.4 4.0 12.3 15.0/15.0T50 Bonny Offshore - Philadelphia WAF-USAC 130,000 4 5,184 5,184 28.8 1.4 4.0 34.2 15.0/15.0T51 Ras Tanura - Huizhou Gulf-S.China 130,000 4 5,159 5,159 28.7 1.4 4.0 34.1 15.0/15.0T83 Bonny Offshore - Lavera WAF-Med 130,000 4 4,070 4,070 22.6 1.1 4.0 27.7 15.0/15.0

T52 Ras Tanura - Singapore 80,000 7 3,702 3,702 22.1 1.1 4.0 27.2 13.5/14.5T53 Sidi Kerir - Trieste 80,000 7 1,191 1,191 7.1 0.4 4.0 11.5 13.5/14.5T54 Arzew - Philadelphia 80,000 7 3,604 3,604 21.5 1.1 4.0 26.6 13.5/14.5T55 Sullom Voe - Wilhelmshaven 80,000 7 531 531 3.2 0.2 4.0 7.3 13.5/14.5T56 Sullom Voe - Bayway 80,000 7 3,174 3,174 18.9 0.9 4.0 23.9 13.5/14.5T57 Curacao - Texas City 70,000 7 1,797 1,797 10.7 0.5 4.0 15.2 13.5/14.5T58 Curacao - Hamburg 80,000 7 4,500 1,797 19.1 1.0 4.0 24.0 13.5/14.5T59 Jakarta - Chiba 80,000 7 3,434 3,434 20.5 1.0 4.0 25.5 13.5/14.5T84 Sullom Voe - Trieste 80,000 7 3,531 3,531 21.0 1.1 4.0 26.1 13.5/14.5T85 Novorrosiyk - Trieste 80,000 7 1,645 1,645 9.8 0.5 4.0 14.3 13.5/14.5T86 Seria - Sydney 80,000 7 4,187 4,187 25.0 1.2 4.0 30.2 13.5/14.5

T60 Ras Tanura - Singapore Gulf-East 80,000 6 3,702 3,702 21.3 1.1 4.0 26.3 14.5/14.5T61 Sidi Kerir - Trieste Med-Med 80,000 6 1,191 1,191 6.8 0.3 4.0 11.2 14.5/14.5T62 Arzew - Philadelphia Med-USAC 80,000 6 3,604 3,604 20.7 1.0 4.0 25.7 14.5/14.5T63 Sullom Voe - Wilhelmshaven UKC-UKC 80,000 6 531 531 3.1 0.2 4.0 7.2 14.5/14.5T64 Sullom Voe - Bayway UKC-USAC 80,000 6 3,174 3,174 18.2 0.9 4.0 23.2 14.5/14.5T65 Curacao - Texas City Carib-US Gulf 70,000 6 1,797 1,797 10.3 0.5 4.0 14.8 14.5/14.5T66 Curacao - Hamburg 80,000 6 4,500 1,797 18.1 0.9 4.0 23.0 14.5/14.5T67 Jakarta - Chiba Indo-Japan 80,000 6 3,434 3,434 19.7 1.0 4.0 24.7 14.5/14.5T87 Sullom Voe - Trieste UKC-Med 80,000 6 3,531 3,531 20.3 1.0 4.0 25.3 14.5/14.5T88 Novorrosiyk - Trieste Black Sea-Med 80,000 6 1,645 1,645 9.5 0.5 4.0 13.9 14.5/14.5T89 Seria - Sydney 80,000 6 4,187 4,187 24.1 1.2 4.0 29.3 14.5/14.5

T68 Curacao - New York Caribs-USAC 50,000 12 1,776 1,776 9.9 0.5 4.0 14.4 15.0/15.0T69 Antwerp - Houston UKC-US Gulf 55,000 12 4,939 4,939 27.4 1.4 4.0 32.8 15.0/15.0T70 Immingham - Milazzo 50,000 12 2,444 2,444 13.6 0.7 4.0 18.3 15.0/15.0T71 Augusta - Houston Med-US Gulf 55,000 12 5,805 5,805 32.3 1.6 4.0 37.9 15.0/15.0T90 Ras Lanuf - Immingham Med-UKC 45,000 13 2,958 2,958 16.4 0.8 4.0 21.3 15.0/15.0

T24 Ras Tanura - Chiba Gulf-Japan 55,000 9 6,605 6,605 36.7 1.8 4.0 42.5 15.0/15.0T25 Ras Tanura - Chiba Gulf-Japan 35,000 13 6,605 6,605 39.3 2.0 4.0 45.3 14.0/14.0T26 Singapore - Chiba Sing-Japan 30,000 13 2,907 2,907 17.3 0.9 4.0 22.2 14.0/14.0T27 Curacao - New York Carib-USAC 38,000 13 1,770 1,770 10.5 0.5 4.0 15.1 14.0/14.0T28 Bahrain - Bombay 30,000 14 1,353 1,353 8.1 0.4 4.0 12.5 14.0/14.0T29 Skikda - Lavera Med-Med 30,000 14 401 401 2.4 0.1 4.0 6.5 14.0/14.0T30 Skikda - Rotterdam Med-UKC 30,000 14 2,033 2,033 12.1 0.6 4.0 16.7 14.0/14.0T31 Skikda - Philadelphia Med-USAC 30,000 14 3,947 3,947 23.5 1.2 4.0 28.7 14.0/14.0T32 Rotterdam - New York UKC-USAC 37,000 13 3,383 3,383 20.1 1.0 4.0 25.1 14.0/14.0T33 Tees - Dunkirk 22,000 15 357 357 2.0 0.1 4.0 6.1 14.5/15.0T34 Augusta - Lavera 22,000 15 729 729 4.1 0.2 4.0 8.3 14.5/15.0T72 Ras Tanura - Chiba Gulf-Japan 75,000 8 6,605 6,605 38.0 1.9 4.0 43.9 14.5/14.5T73 Ras Tanura - Dar Es Salaam Gulf-E.Africa 35,000 13 2,836 2,836 16.9 0.8 4.0 21.7 14.0/14.0T74 Tuapse - Augusta Black Sea-Med 30,000 14 1,297 1,297 7.7 0.4 4.0 12.1 14.0/14.0T75 Ventspils - Amsterdam Baltic-UKC 30,000 14 1,031 1,031 6.1 0.3 4.0 10.4 14.0/14.0T91 Tees - Amsterdam UKC-UKC 30,000 14 307 307 1.8 0.1 4.0 5.9 14.0/14.0T92 Bombay - Chiba 35,000 13 5,431 5,431 32.3 1.6 4.0 37.9 14.0/14.0

Clean Products

Route Name in SIW (Issue No. 824 onwards)

VLCC - Early 1990s (Crude)

VLCC - Modern (Crude)

Dirty Products

Suezmax - Early 1990s (Crude)

Suezmax - Modern (Crude)

Aframax - 1990/01 (Crude)

Aframax - Modern (Crude)



Annex 2(b) - Tanker Voyage Details (1997-2003)



T1 Ras Tanura - LOOP Gulf-US Gulf 320,000 1 12,225 12,225 78.4 3.9 4.0 86.3 13.0/13.0

T7 Ras Tanura - Rotterdam 270,000 3 11,170 11,170 69.0 3.4 4.0 76.4 13.5/13.5T8 Ras Tanura - Chiba 250,000 3 6,605 6,605 40.8 2.0 4.0 46.8 13.5/13.5T9 Ras Tanura - Ain Sukhna 280,000 2 3,061 3,061 18.9 0.9 4.0 23.8 15.0/15.0

T10 Sidi Kerir - Rotterdam 270,000 3 3,159 3,159 19.5 1.0 4.0 24.5 13.5/13.5T11 Ras Tanura - Ulsan 250,000 3 6,216 6,216 38.4 1.9 4.0 44.3 13.5/13.5T35 Ras Tanura - Loop 270,000 3 12,225 12,225 75.5 3.8 4.0 83.2 13.5/13.5T36 Ras Tanura - Singapore 260,000 3 3,702 3,702 22.9 1.1 4.0 28.0 13.5/13.5T37 Bonny Offshore - Loop 270,000 3 5,912 5,912 36.5 1.8 4.0 42.3 13.5/13.5T38 Bonny Offshore - Kaohsiung 260,000 3 9,440 9,440 58.3 2.9 4.0 65.2 13.5/13.5

T39 Ras Tanura - Rotterdam Gulf-Europe 275,000 2 11,170 11,170 62.1 3.1 4.0 69.2 15.0/15.0T40 Ras Tanura - Chiba Gulf-Japan 260,000 2 6,605 6,605 36.7 1.8 4.0 42.5 15.0/15.0T41 Ras Tanura - Ain Sukhna Gulf-Red Sea 280,000 2 3,061 3,061 17.0 0.9 4.0 21.9 15.0/15.0T42 Sidi Kerir - Rotterdam Med-UK/Cont 270,000 2 3,159 3,159 17.6 0.9 4.0 22.5 15.0/15.0T43 Ras Tanura - Ulsan Gulf-S.Korea 250,000 2 6,216 6,216 34.5 1.7 4.0 40.3 15.0/15.0T44 Ras Tanura - Loop Gulf-US Gulf 275,000 2 12,225 12,225 67.9 3.4 4.0 75.3 15.0/15.0T45 Ras Tanura - Singapore 260,000 2 3,702 3,702 20.6 1.0 4.0 25.6 15.0/15.0T46 Bonny Offshore - Loop WAF-US Gulf 260,000 2 5,912 5,912 32.8 1.6 4.0 38.5 15.0/15.0T47 Bonny Offshore - Kaohsiung WAF-East 260,000 2 9,440 9,440 52.4 2.6 4.0 59.1 15.0/15.0

T12 Sidi Kerir - Lavera 135,000 5 1,420 1,420 8.9 0.4 4.0 13.4 13.0/13.5T13 Bonny Offshore - Philadelphia 130,000 5 5,184 5,184 32.6 1.6 4.0 38.2 13.0/13.5T48 Ras Tanura - Huizhou 130,000 5 5,159 5,159 32.5 1.6 4.0 38.1 13.0/13.5

T49 Sidi Kerir - Lavera Med-Med 135,000 4 1,420 1,420 8.2 0.4 4.0 12.6 14.0/15.0T50 Bonny Offshore - Philadelphia W.Africa-USAC 130,000 4 5,184 5,184 29.8 1.5 4.0 35.3 14.0/15.0T51 Ras Tanura - Huizhou Gulf-S.China 130,000 4 5,159 5,159 29.7 1.5 4.0 35.2 14.0/15.0

T52 Ras Tanura - Singapore 80,000 7 3,702 3,702 22.1 1.1 4.0 27.2 13.5/14.5T53 Sidi Kerir - Trieste 80,000 7 1,191 1,191 7.1 0.4 4.0 11.5 13.5/14.5T54 Arzew - Philadelphia 80,000 7 3,604 3,604 21.5 1.1 4.0 26.6 13.5/14.5T55 Sullom Voe - Wilhelmshaven 80,000 7 531 531 3.2 0.2 4.0 7.3 13.5/14.5T56 Sullom Voe - Bayway 80,000 7 3,174 3,174 18.9 0.9 4.0 23.9 13.5/14.5T57 Curacao - Texas City 80,000 7 1,797 1,797 10.7 0.5 4.0 15.2 13.5/14.5T58 Curacao - Hamburg 80,000 7 4,500 1,797 19.1 1.0 4.0 24.0 13.5/14.5T59 Jakarta - Chiba 80,000 7 3,194 3,194 19.0 1.0 4.0 24.0 13.5/14.5

T60 Ras Tanura - Singapore Gulf-East 80,000 6 3,702 3,702 21.3 1.1 4.0 26.3 14.5/14.5T61 Sidi Kerir - Trieste Med-Med 80,000 6 1,191 1,191 6.8 0.3 4.0 11.2 14.5/14.5T62 Arzew - Philadelphia Med-USAC 80,000 6 3,604 3,604 20.7 1.0 4.0 25.7 14.5/14.5T63 Sullom Voe - W'haven UK/Cont-UK/Cont 80,000 6 531 531 3.1 0.2 4.0 7.2 14.5/14.5T64 Sullom Voe - Bayway UK/Cont-USAC 80,000 6 3,174 3,174 18.2 0.9 4.0 23.2 14.5/14.5T65 Curacao - Texas City Caribs-US Gulf 80,000 6 1,797 1,797 10.3 0.5 4.0 14.8 14.5/14.5T66 Curacao - Hamburg Caribs-Europe 80,000 6 4,500 1,797 18.1 0.9 4.0 23.0 14.5/14.5T67 Jakarta - Chiba Indo-Japan 80,000 6 3,194 3,194 18.4 0.9 4.0 23.3 14.5/14.5

T68 Curacao - New York Caribs-USAC 50,000 12 1,776 1,776 11.4 0.6 4.0 16.0 13.0/13.0T69 Antwerp - Houston UK/Cont-US Gulf 50,000 12 4,939 4,939 31.7 1.6 4.0 37.2 13.0/13.0T70 Immingham - Milazzo UK/Cont-Med 50,000 12 2,444 2,444 15.7 0.8 4.0 20.5 13.0/13.0T71 Augusta - Houston Med-US Gulf 50,000 12 5,805 5,805 37.2 1.9 4.0 43.1 13.0/13.0

T24 Ras Tanura - Chiba Gulf-Japan 55,000 9 6,605 6,605 42.3 2.1 4.0 48.5 13.0/13.0T25 Ras Tanura - Chiba Gulf-Japan 30,000 10 6,605 6,605 39.4 2.0 4.0 45.3 13.5/14.5T26 Singapore - Chiba Sing-Japan 30,000 10 2,907 2,907 17.3 0.9 4.0 22.2 13.5/14.5T27 Curacao - New York Caribs-USAC 30,000 10 1,770 1,770 10.5 0.5 4.0 15.1 13.5/14.5T28 Bahrain - Bombay Gulf-WC India 30,000 10 1,353 1,353 8.1 0.4 4.0 12.5 13.5/14.5T29 Skikda - Lavera Med-Med 27,500 10 401 401 2.4 0.1 4.0 6.5 13.5/14.5T30 Skikda - Rotterdam Med-UK/Cont 30,000 10 1,963 1,963 11.7 0.6 4.0 16.3 13.5/14.5T31 Skikda - Philadelphia Med-USAC 33,000 10 3,947 3,947 23.5 1.2 4.0 28.7 13.5/14.5T32 Rotterdam - New York UKC-USAC 33,000 10 3,383 3,383 20.2 1.0 4.0 25.2 13.5/14.5T33 Tees - Dunkirk UK/Cont-UK/Cont 20,000 11 289 289 1.8 0.1 3.0 4.8 14.0/13.5T34 Augusta - Lavera Med-Med 20,000 11 651 651 3.9 0.2 3.0 7.1 14.0/13.5T72 Ras Tanura - Chiba Gulf-Japan 75,000 8 6,605 6,605 36.7 1.8 4.0 42.5 15.0/15.0T73 Ras Tanura - Dar Es Salaam 35,000 10 2,831 2,831 16.9 0.8 4.0 21.7 13.5/14.5T74 Tuapse - Augusta Black Sea-Med 30,000 10 1,297 1,297 7.7 0.4 4.0 12.1 13.5/14.5T75 Ventspils - Amsterdam Baltic-UKC 30,000 10 923 923 5.5 0.3 4.0 9.8 13.5/14.5

Clean Products

Dirty Products


Suezmax - Modern (Crude)

Aframax - 1990/01 (Crude)

Aframax - Modern (Crude)

Route Name in SIW (Issue No. 503 -

823)

ULCC - Mid 1970s (Crude)

VLCC - Modern (Crude)

Suezmax - Early 1990s (Crude)



Annex 2(c) - Tanker Voyage Details (Pre-1997)

CRS Voyages Cargo CRS Voyage Dist. Voyage Time - Days Total Oper.

No. Load Discharge Size Ship Miles Sea Sea Port Turn Canal Voyage Speed


T1 Ras Tanura - LOOP Gulf-US Gulf 320,000 1 12,225 12,225 81.8 14.0/13.5

T2 Ras Tanura - Rotterdam Gulf-Europe 270,000 3 11,170 11,170 75.1 14.0/13.5

T3 Ras Tanura - Chiba Gulf-East 250,000 3 6,605 6,605 46.0 14.0/13.5

T4 Ras Tanura - Ain Sukhna Gulf-Red Sea 270,000 3 3,061 3,061 23.5 14.0/13.5

T5 Sidi Kerir - Rotterdam Med-UK/Cont 270,000 3 3,159 3,159 24.1 14.0/13.5

T6 Ras Tanura - Ulsan Not in SIW 250,000 3 5,854 5,854 41.3 14.0/13.5

T7 Ras Tanura - Rotterdam Gulf-Europe 270,000 2 11,170 11,170 75.1 14.0/13.5

T8 Ras Tanura - Chiba Gulf-East 250,000 2 6,605 6,605 46.0 14.0/13.5

T9 Ras Tanura - Ain Sukhna Gulf-Red Sea 270,000 2 3,061 3,061 23.5 14.0/13.5

T10 Sidi Kerir - Rotterdam Med-UK/Cont 280,000 2 3,159 3,159 0.0 15.0/15.0

T11 Ras Tanura - Ulsan Not in SIW 250,000 2 5,854 5,854 41.3 14.0/13.5

T12 Sidi Kerir - Lavera Med-Med 135,000 4 1,420 1,420 13.0 14.0/13.5

T13 Bonny Offshore - Philadelphia W.Africa-USAC 130,000 4 5,184 5,184 37.0 14.0/13.5

T14 Ras Tanura - Singapore Gulf-East 80,000 5 3,702 3,702 27.6 14.0/13.5

T15 Sidi Kerir - Trieste Med-Med 80,000 5 1,191 1,191 11.6 14.0/13.5

T16 Arzew - Philadelphia Med-USAC 80,000 5 3,604 3,604 26.9 14.0/13.5

T17 Sullom Voe Rotterdam UK/Cont-UK/Cont 80,000 5 603 603 7.8 14.0/13.5

T18 Sullom Voe - Bayway UK/Cont-USAC 80,000 5 3,174 3,174 24.2 14.0/13.5

T19 Curacao - Texas City Caribs-US Gulf 80,000 5 1,797 1,797 15.4 14.0/13.5

T20 Curacao - Hamburg Caribs-Europe 80,000 5 4,500 1,797 23.9 14.0/13.5

T21 Rotterdam Bayway UK/Cont-USAC 50,000 6 3,424 3,424 25.8 14.0/13.5

T22 Milford Haven Milazzo Not in SIW 50,000 6 2,107 2,107 17.4 14.0/13.5

T23 Milford Haven Wil'haven UK/Cont-UK/Cont 50,000 6 780 780 9.0 14.0/13.5

T24 Ras Tanura - Chiba Gulf-Japan 55,000 7 6,605 6,605 46.0 14.0/13.5

T25 Ras Tanura - Chiba Gulf-Japan 30,000 8 6,605 6,605 46.0 14.0/13.5

T26 Singapore - Chiba Sing-Japan 30,000 8 2,907 2,907 22.5 14.0/13.5

T27 Curacao - New York Caribs-USAC 30,000 8 1,770 1,770 15.3 14.0/13.5

T28 Bahrain - Bombay Gulf-WC India 28,000 9 1,353 1,353 12.6 14.0/13.5

T29 Skikda - Lavera Med-Med 28,000 9 401 401 6.6 14.0/13.5

T30 Skikda - Rotterdam Med-UK/Cont 28,000 9 1,963 1,963 16.5 14.0/13.5

T31 Skikda - Philadelphia Med-USAC 28,000 9 3,947 3,947 29.1 14.0/13.5

T32 Rotterdam - New York UK/Cont-USAC 28,000 9 3,383 3,383 25.5 14.0/13.5

T33 Tees - Dunkirk UK/Cont-UK/Cont 20,000 10 289 289 4.8 14.0/13.5

T34 Augusta - Lavera Med-Med 20,000 10 651 651 7.1 14.0/13.5

Clean Products

Dirty Products

Route Name in SIW (Pre-Issue No. 503)

ULCC - Mid 1970s (Crude)

Suezmax (Early 1990s)

Aframax (Mid 1980s)


VLCC - Mid 1970s (Crude)



Annex 2(d) - Bulkcarrier Voyage Details (2008 Onwards)



B2 Tubarao - Rotterdam 145,000 17 5,025 5,025 31.0 1.6 6.0 1.0 0.0 39.6 13.5/13.5

B3 Tubarao - Japan 145,000 17 11,331 5,025 50.5 2.5 7.0 1.0 0.0 61.0 13.5/13.5

B5 Dampier - Rotterdam 145,000 17 11,536 3,500 46.4 2.3 6.0 0.8 0.0 55.5 13.5/13.5

B6 Dampier - Japan 145,000 17 3,470 3,470 21.4 1.1 4.8 0.8 0.0 28.0 13.5/13.5

B22 Tubarao - Beilun/Baoshan 145,000 17 10,874 4,974 48.9 2.4 9.5 2.3 0.0 63.2 13.5/13.5

B23 Dampier - Beilun/Baoshan 145,000 17 3,371 3,500 21.2 1.1 7.5 2.8 0.0 32.6 13.5/13.5

B24 Saldanha Bay - Beilun/Baoshan 145,000 17 7,775 6,138 42.9 2.1 7.6 2.8 0.0 55.5 13.5/13.5

B55 Narvik - Rotterdam 145,000 17 1,140 1,140 7.0 0.4 6.0 0.5 0.0 13.9 13.5/13.5

B56 Nouadhibou - Rotterdam 130,000 17 2,229 2,229 13.8 0.7 6.0 0.5 0.0 20.9 13.5/13.5

B57 Goa - Beilun/Baoshan 145,000 17 4,497 4,668 28.3 1.4 11.5 2.3 0.0 43.5 13.5/13.5

B58 Port Cartier - Rotterdam 140,000 17 2,901 2,901 17.9 0.9 6.0 0.8 0.0 25.6 13.5/13.5

B8 Hampton Roads - Rotterdam 122,000 17 3,544 3,544 21.9 1.1 6.5 1.0 0.0 30.5 13.5/13.5

B9 Queensland - Rotterdam 135,000 17 13,633 3,943 54.2 2.7 9.4 1.0 0.0 67.4 13.5/13.5

B10 Queensland - Japan 138,300 17 3,943 3,943 24.3 1.2 8.0 1.8 0.0 35.4 13.5/13.5

B11 Richards Bay - Rotterdam 137,000 17 7,054 7,341 44.4 2.2 8.9 1.5 0.0 57.1 13.5/13.5

B25 Bolivar - Rotterdam 136,000 17 4,500 4,500 27.8 1.4 9.9 1.0 0.0 40.1 13.5/13.5

B59 Banjarmasin - Rotterdam 138,400 17 11,872 2,690 44.9 2.2 11.5 0.5 0.0 59.2 13.5/13.5

B60 Baltimore - Rotterdam 115,000 17 3,665 3,665 22.6 1.1 8.5 1.0 0.0 33.3 13.5/13.5

B27 Tubarao - Rotterdam Tubarao/Rotterdam 167,500 16 5,025 5,025 28.4 1.4 6.0 1.0 0.0 36.8 14.5/15.0

B28 Tubarao - Japan Tubarao/Japan 18m 166,000 16 11,331 5,025 46.5 2.3 7.0 1.0 0.0 56.8 14.5/15.0

B29 Dampier - Rotterdam Dampier/Rotterdam 166,000 16 11,536 3,500 42.9 2.1 6.0 0.8 0.0 51.8 14.5/15.0

B30 Dampier - Japan Dampier/Japan 18m 167,500 16 3,470 3,470 19.6 1.0 4.8 0.8 0.0 26.1 14.5/15.0

B31 Tubarao - Beilun/Baoshan Tubarao/Beilun.Baoshan 165,000 16 10,874 4,974 45.1 2.3 9.5 2.3 0.0 59.1 14.5/15.0

B32 Dampier - Beilun/Baoshan Dampier/Beilun.Baoshan 167,500 16 3,371 3,500 19.4 1.0 7.5 2.8 0.0 30.7 14.5/15.0

B33 Saldanah Bay - Beilun/Baoshan Saldanha /Beilun.Baoshan 166,000 16 7,775 6,138 39.4 2.0 7.6 2.8 0.0 51.8 14.5/15.0

B61 Narvik - Rotterdam 168,000 16 1,140 1,140 6.4 0.3 6.0 0.5 0.0 13.3 14.5/15.0

B62 Nouadhibou - Rotterdam 143,000 16 2,229 2,229 12.6 0.6 6.0 0.5 0.0 19.7 14.5/15.0

B63 Goa - Beilun/Baoshan 166,000 16 4,497 4,668 25.9 1.3 11.5 2.3 0.0 41.0 14.5/15.0

B64 Port Cartier - Rotterdam 151,800 16 2,901 2,901 16.4 0.8 6.0 0.8 0.0 24.0 14.5/15.0


B40 Queensland - Rotterdam Hay Pt./Rotterdam 148,500 16 13,633 3,943 50.1 2.5 9.4 1.0 0.0 63.0 14.5/15.0

B41 Queensland - Japan Hay Pt./Japan 17m 157,000 16 3,943 3,943 22.3 1.1 8.0 1.8 0.0 33.2 14.5/15.0

B42 Richards Bay - Rotterdam R.Bay/Rotterdam 159,500 16 7,054 7,341 40.7 2.0 8.9 1.5 0.0 53.1 14.5/15.0

B43 Bolivar - Rotterdam Bolivar/Rotterdam 156,700 16 4,500 4,500 25.4 1.3 9.9 1.0 0.0 37.6 14.5/15.0

B65 Banjarmasin - Rotterdam Indonesia/Rotterdam 159,500 16 11,872 2,690 41.6 2.1 11.5 0.5 0.0 55.7 14.5/15.0

B66 Baltimore - Rotterdam 124,600 16 3,665 3,665 20.7 1.0 8.5 1.0 0.0 31.2 14.5/15.0

B16 Hampton Roads - ARA H.Rds/ARA 72,980 19 3,539 3,539 21.5 1.1 4.1 1.0 0.0 27.6 14.0/13.5

B18 Roberts Bank - Japan Roberts Bank/Japan 64,000 20 4,275 4,275 25.9 1.3 7.1 0.5 0.0 34.8 14.0/13.5

B19 New South Wales - Cont Newcastle/Cont 62,375 20 12,762 4,320 51.3 2.6 4.9 1.0 0.0 59.8 14.0/13.5

B20 Newcastle - Japan Newcastle/Japan 63,000 20 4,287 4,287 26.0 1.3 6.7 1.0 0.0 35.0 14.0/13.5

B41 Bolivar - ARA Bolivar/ARA 60,000 20 4,359 4,359 26.4 1.3 4.6 1.0 0.0 33.3 14.0/13.5

B42 Richards Bay - Rotterdam Richards B./Rott 60,000 20 7,057 3,606 32.1 1.6 4.3 1.3 0.0 39.3 14.0/13.5

B43 Roberts Bank - Rotterdam Roberts Bank/Rott 57,000 20 8,904 4,426 40.2 2.0 5.4 0.5 1.0 49.1 14.0/13.5

B67 US Gulf - ARA USGulf/ARA 69,900 19 4,854 4,854 29.4 1.5 8.0 1.0 0.0 39.9 14.0/13.5

B68 Richards Bay - Spanish Med. 63,000 20 6,140 4,757 33.0 1.6 7.0 1.3 0.0 42.9 14.0/13.5

B69 Indonesia - Rotterdam Indonesia/Rotterdam 60,000 20 9,225 2,345 34.7 1.7 7.0 0.5 1.0 44.9 14.0/13.5

B70 Maracaibo - Rotterdam 50,000 20 4,427 4,427 26.8 1.3 4.5 0.5 0.0 33.2 14.0/13.5

B71 Gdansk - Rotterdam 60,000 20 869 869 5.3 0.3 5.5 0.5 0.0 11.5 14.0/13.5

B72 Ventspils - Rotterdam 63,000 20 1,088 1,088 6.6 0.3 5.5 1.0 0.0 13.4 14.0/13.5

B73 Murmansk - Rotterdam 63,000 20 1,731 1,731 10.5 0.5 5.5 1.3 0.0 17.8 14.0/13.5

B74 US Gulf - Morocco 62,500 20 4,520 4,520 27.4 1.4 8.0 1.0 0.0 37.8 14.0/13.5

B48 Hampton Roads - ARA H.Rds/ARA 67,000 18 3,539 3,539 21.5 1.1 4.1 1.0 0.0 27.6 13.5/14.0


B50 New South Wales - Cont Newcastle/Cont 66,000 18 12,762 4,320 52.2 2.6 4.9 1.0 0.0 60.8 13.5/14.0




B54 Roberts Bank - Rotterdam Roberts Bank/Rott 58,000 18 8,904 4,426 40.7 2.0 5.4 0.5 1.0 49.6 13.5/14.0

B75 US Gulf/ARA - ARA USGulf/ARA 67,000 18 4,854 4,854 29.4 1.5 8.0 1.0 0.0 39.9 13.5/14.0

B76 Richards Bay - Spanish Med. 67,000 18 6,140 4,757 33.1 1.7 7.0 1.3 0.0 43.0 13.5/14.0

B77 Indonesia - Rotterdam Indonesia/Rotterdam 70,000 18 9,225 2,345 35.5 1.8 7.0 0.5 1.0 45.7 13.5/14.0

B78 Maracaibo - Rotterdam 54,000 18 4,427 4,427 26.8 1.3 4.5 0.5 0.0 33.2 13.5/14.0

B79 Gdansk - Rotterdam 68,000 18 869 869 5.3 0.3 5.5 0.5 0.0 11.5 13.5/14.0

B80 Ventspils - Rotterdam 70,000 21 1,088 1,088 6.5 0.3 5.5 1.0 0.0 13.3 14.0/14.0

B81 Murmansk - Rotterdam 65,000 21 1,731 1,731 10.3 0.5 5.5 1.0 0.0 17.3 14.0/14.0

B82 US Gulf - Morocco 65,000 21 4,520 4,520 26.9 1.3 8.0 1.0 0.0 37.3 14.0/14.0

B83 US Gulf - Japan USGulf/Japan(HSS) 49,000 22 9,213 4,854 41.4 2.1 16.0 0.0 1.0 60.4 14.0/14.5

Capesize - Modern (Coal)

Supramax - Modern (Grain)

Route Name in SIW (Issue No. 804 onwards)

Capesize - Early 1990s (Iron Ore)

Capesize - Early 1990s (Coal)

Capesize - Modern (Iron Ore)

Panamax - 1980s (Coal)




Annex 2(e) - Bulkcarrier Voyage Details (2002-2008)




B2 Tubarao - Rotterdam 145,000 14 5,025 5,025 31.0 1.6 6.0 1.0 0.0 39.6 13.5/13.5

B3 Tubarao - Japan 145,000 14 11,331 5,025 50.5 2.5 7.0 1.0 0.0 61.0 13.5/13.5

B5 W.Australia - Rotterdam 145,000 14 11,536 3,500 46.4 2.3 6.0 0.8 0.0 55.5 13.5/13.5

B6 W.Australia - Japan 145,000 14 3,470 3,470 21.4 1.1 4.8 0.8 0.0 28.0 13.5/13.5

B22 Tubarao - Beilun/Baos 145,000 14 10,874 4,974 48.9 2.4 9.5 2.3 0.0 63.2 13.5/13.5

B23 W.Australia - Beilun/Baos 145,000 14 3,371 3,500 21.2 1.1 7.5 2.8 0.0 32.6 13.5/13.5

B24 Saldanha Bay - Beilun/Baos 145,000 14 7,775 6,138 42.9 2.1 7.6 2.8 0.0 55.5 13.5/13.5

B7 H.Rds/R.Bay - Japan 132,000 14 15,126 3,539 57.6 2.9 9.0 1.8 0.0 71.2 13.5/13.5


B9 Queensland - Rotterdam 135,000 14 13,633 3,943 54.2 2.7 9.4 1.0 0.0 67.4 13.5/13.5

B10 Queensland - Japan 138,300 14 3,943 3,943 24.3 1.2 8.0 1.8 0.0 35.4 13.5/13.5


B25 Bolivar - Rotterdam 136,000 14 4,500 4,500 27.8 1.4 9.9 1.0 0.0 40.1 13.5/13.5

B26 Rizhao - Rotterdam 140,000 14 14,139 484 45.1 2.3 11.9 1.0 0.0 60.3 13.5/13.5

B27 Tubarao - Rotterdam Tabarao/Rotterdam 167,500 13 5,025 5,025 28.4 1.4 6.0 1.0 0.0 36.8 14.5/15.0

B28 Tubarao - Japan Tubarao/Japan 18m 166,000 13 11,331 5,025 46.5 2.3 7.0 1.0 0.0 56.8 14.5/15.0

B29 W.Australia - Rotterdam Dampier/Rotterdam 166,000 13 11,536 3,500 42.9 2.1 6.0 0.8 0.0 51.8 14.5/15.0

B30 W.Australia - Japan Dampier/Japan 18m 167,500 13 3,470 3,470 19.6 1.0 4.8 0.8 0.0 26.1 14.5/15.0

B31 Tubarao - Beilun/Baoshan Tub/Beilun.Baoshan 165,000 13 10,874 4,974 45.1 2.3 9.5 2.3 0.0 59.1 14.5/15.0

B32 W.Australia - Beilun/Baoshan Dampier/Beilun.Bao. 167,500 13 3,371 3,500 19.4 1.0 7.5 2.8 0.0 30.7 14.5/15.0

B33 Saldanha Bay - Beilun/Baoshan Saldanha/Beilun.Boa. 166,000 13 7,775 6,138 39.4 2.0 7.6 2.8 0.0 51.8 14.5/15.0

B34 H.Rds/R.Bay - Japan 159,274 13 15,126 3,539 53.3 2.7 9.0 1.8 0.0 66.7 14.5/15.0


B36 Queensland - Rotterdam Hay Pt./Rotterdam 148,500 13 13,633 3,943 50.1 2.5 9.4 1.0 0.0 63.0 14.5/15.0

B37 Queensland - Japan Hay Pt./Japan 17m 165,000 13 3,943 3,943 22.3 1.1 8.0 1.8 0.0 33.2 14.5/15.0

B38 Richards Bay - Rotterdam R.Bay/Rotterdam 161,500 13 7,054 7,341 40.7 2.0 8.9 1.5 0.0 53.1 14.5/15.0

B39 Bolivar - Rotterdam Bolivar/Rotterdam 156,700 13 4,500 4,500 25.4 1.3 9.9 1.0 0.0 37.6 14.5/15.0

B40 Rizhao - Rotterdam Rizhao/Rotterdam 150,000 13 14,139 484 42.0 2.1 11.9 1.0 0.0 57.0 14.5/15.0

B12 New Orleans - Rott. (Lights) 57,700 16 4,829 4,829 29.3 1.5 14.0 0.0 0.0 44.7 14.0/13.5

B13 New Orleans - Rott. (HSS) 54,500 17 4,829 4,829 29.3 1.5 14.0 0.0 0.0 44.7 14.0/13.5

B14 New Orleans - Japan 54,500 17 9,213 4,854 42.4 2.1 16.0 0.0 1.0 61.5 14.0/13.5

B15 NOPAC - Japan 54,500 17 4,667 4,667 28.3 1.4 14.0 0.0 0.0 43.7 14.0/13.5

B16 Hampton Rds - ARA 72,980 16 3,539 3,539 21.5 1.1 4.1 1.0 0.0 27.6 14.0/13.5

B18 Roberts Bank - Japan 64,000 17 4,275 4,275 25.9 1.3 7.1 0.5 0.0 34.8 14.0/13.5

B19 NSW - Continent 62,375 17 12,762 4,320 51.3 2.6 4.9 1.0 0.0 59.8 14.0/13.5

B20 Newcastle - Japan 63,000 17 4,287 4,287 26.0 1.3 6.7 1.0 0.0 35.0 14.0/13.5

B41 Bolivar - ARA 60,000 17 4,359 4,359 26.4 1.3 4.6 1.0 0.0 33.3 14.0/13.5


B43 Roberts Bank - Rotterdam 57,000 17 8,904 4,426 40.2 2.0 5.4 0.5 1.0 49.1 14.0/13.5

B44 New Orleans - Rott. (Lights) USGulf/Rott(Lights) 55,500 15 4,829 4,829 29.3 1.5 14.0 0.0 0.0 44.7 13.5/14.0

B45 New Orleans - Rott. (HSS) USGulf/Rott(HSS) 62,500 15 4,829 4,829 29.3 1.5 14.0 0.0 0.0 44.7 13.5/14.0

B46 New Orleans - Japan USGulf/Japan(HSS) 56,700 15 9,213 4,854 42.9 2.1 16.0 0.0 1.0 62.0 13.5/14.0

B47 NOPAC - Japan Nopac/Japan 56,700 15 4,667 4,667 28.3 1.4 14.0 0.0 0.0 43.7 13.5/14.0

B48 Hampton Rds - ARA H.Rds/ARA 67,000 15 3,539 3,539 21.5 1.1 4.1 1.0 0.0 27.6 13.5/14.0


B50 NSW - Continent Newcastle/Cont 66,000 15 12,762 4,320 52.2 2.6 4.9 1.0 0.0 60.8 13.5/14.0




B54 Roberts Bank - Rotterdam Roberts Bank/Rott. 58,000 15 8,904 4,426 40.7 2.0 5.4 0.5 1.0 49.6 13.5/14.0

Route Name in SIW (Issue No. 503 - 803)

Capesize - Early 1990s (Iron Ore)

Capesize - Early 1990s (Coal)

Panamax - 1990s (Grain)


Capesize - Modern (Iron Ore)

Capesize - Modern (Coal)


Panamax - 1980s (Grain)



Annex 2(f) - Bulkcarrier Voyage Details (Pre-2002)




B1 Narvik - Rotterdam Narvik/Rotterdam 145,000 11 1,128 1,128 12.8 13.5/13.5

B2 Tubarao - Rotterdam Tubarao/Rotterdam 145,000 11 4,974 4,974 38.7 13.5/13.5

B3 Tubarao - Japan Tubarao/Japan 17m 145,000 11 11,525 4,974 62.2 13.5/13.5

B4 Nouadhibou - Rotterdam Nouadhibou/Rott. 130,000 11 2,229 2,229 20.9 13.5/13.5

B5 W.Australia - Rotterdam W.Aust/Rotterdam 145,000 11 11,329 3,682 56.1 13.5/13.5

B6 W.Australia - Japan W.Aust/Japan 17m 145,000 11 3,682 3,682 31.6 13.5/13.5

B7 H.Rds/R.Bay - Japan H.Rd.R.Bay/Japan 16m 132,000 11 15,247 3,544 71.6 13.5/13.5

B8 Hampton Roads - Rotterdam H.Rds/Rotterdam 122,000 11 3,544 3,544 30.5 13.5/13.5

B9 Queensland - Rotterdam Q'land/Rotterdam 135,000 11 13,633 3,943 67.0 13.5/13.5

B10 Queensland - Japan Q'land/Japan 17m 138,300 11 3,943 3,943 35.6 13.5/13.5

B11 Richards Bay - Rotterdam R.Bay/Rotterdam 137,000 11 7,054 3,606 55.9 13.5/13.5

B12 US Gulf - Rott. (Lights) USGulf.Rott(Lights) 57,700 12 4,854 4,854 45.9 14.0/13.5

B13 US Gulf - Rott. (HSS) USGulf/Rott(HSS) 54,500 13 4,854 4,854 45.9 14.0/13.5

B14 US Gulf - Japan USGulf/Japan(HSS) 54,500 13 9,213 4,854 63.0 14.0/13.5

B15 Nopac - Japan Nopac/Japan 54,500 13 4,500 4,500 46.6 14.0/13.5

B16 Hampton Rds - ARA H.Rds/ARA 72,980 12 3,544 3,544 29.6 14.0/13.5

B17 US Gulf - ARA USGulf/ARA 69,900 12 4,854 4,854 39.9 14.0/13.5

B18 Roberts Bank - Japan Roberts Bank/Japan 64,000 13 4,275 4,275 35.2 14.0/13.5

B19 NSW - Continent NSW/Cont 62,375 13 12,762 7,114 72.9 14.0/13.5

B20 Newcastle - Japan Newcastle/Japan 63,000 13 4,287 4,287 63.3 14.0/13.5

B21 Richards Bay - Spanish Med. R.Bay/Sp.Med 63,000 13 6,464 4,757 43.9 14.0/13.5

Panamax Coal

Route Name in SIW (Pre-Issue No. 503)

Capesize Ore

Capesize Coal

Panamax Grain



Annex 3(a) - Tanker Vessel Details

Applicable Speed Cons. in Port, mt.

CRS Avg. CRS Laden Ballast Cst380 MDO Cst380 MDO

No Ship Type Dwt YoB. Voyages Knots Knots Laden Ballast

1 ULCC 337,699 1975 13.0 13.0 145.0 118.0 0.0 404.0 0.0

2 VLCC (modern, d/h) 300,000 2000/01 T39-47, T79-T81. 15.0 15.0 87.5 74.0 0.0 150.0 0.0

3 VLCC (early 1990s, s /h) 275,000 1990/91 T7-T11, T35-T38, 14.0 14.5 84.0 69.0 0.0 133.0 0.0

T76-T78.

4 Suezmax (modern, d/h) 150,000 1998/99 T49-T51, T83. 15.0 15.0 65.0 60.0 0.0 100.0 0.0

5 Suezmax (early 1990s, s /h) 140,000 1990/91 T12-T14, T82. 14.0 14.0 60.0 55.0 0.0 106.0 0.0

6 Aframax (modern, d/h) 106,000 1999/00 T60-T67, T87-T89. 14.5 14.5 50.0 50.0 0.0 67.0 0.0

7 Aframax (early 1990s, s /h) 96,000 1990/91 T52-T59, T84-T86. 13.5 13.5 41.0 39.0 0.0 80.0 18.0

8 "LR2" (Aframax) Products 106,000 late '90s T72. 14.5 14.5 50.0 50.0 0.0 67.0 0.0

9 "LR1" (Panamax) Products 70,000 early '00s T24. 15.0 15.0 45.0 45.0 0.0 43.0 0.0

10 "MR" Handy (Clean) 39,000 1988 13.5 14.5 24.0 24.0 1.0 28.0 2.5

11 "SR" Handy (Clean) 23,500 1989 14.0 13.5 20.4 19.4 0.0 20.0 6.0

12 Dirty Products 70,000 2000 T68-T71, T90. 15.0 15.0 45.0 45.0 0.0 43.0 0.0

13 "MR" Handy (modern, d/h) 47,000 1999 T25-T27, T32, 14.0 14.0 32.0 32.0 0.0 23.5 0.0

T73, T92.

14 "MR" Handy (modern, d/h) 37,000 1999 T28-T31, T74-T75, 14.0 14.0 30.0 30.0 0.0 25.0 0.0

T91.

15 "SR" Handy (early 1990s) 29,000 early '90s T33-T34. 14.5 15.0 32.5 32.5 0.0 21.5 0.0

1 ULCC 337,699 1975 T1. 13.0 13.0 145.0 118.0 0.0 404.0 0.0

2 VLCC (modern, d/h) 300,000 2000/01 T39-T47. 15.0 15.0 87.5 74.0 0.0 260.0 0.0

3 VLCC (early 1990s, s /h) 275,000 1990/91 T7-T11, T35-T38. 13.5 13.5 58.0 58.0 2.5 280.0 0.0

4 Suezmax (modern, d/h) 150,000 1998/99 T49-T51. 14.0 15.0 52.5 50.0 0.0 195.0 18.0

5 Suezmax (early 1990s, s /h) 140,000 1990/91 T12-T13, T48. 13.0 13.5 41.0 41.0 2.0 240.0 2.0

6 Aframax (modern, d/h) 106,000 1999/00 T60-T67. 14.5 14.5 49.0 40.0 0.0 116.0 0.0

7 Aframax (early 1990s, s /h) 89,636 1990/91 T52-T59. 13.5 14.5 39.0 39.0 2.5 106.0 0.0

8 "LR2" (Aframax) Products 106,000 late '90s T72. 15.0 15.0 50.0 50.0 5.0 20.0 6.0

9 "LR1" (Panamax) Products 70,000 early '00s T24. 13.0 13.0 30.0 30.0 2.0 20.0 4.0

10 "MR" Handy (Clean) 39,000 1988 T25-T32, T73-T75. 13.5 14.5 24.0 24.0 1.0 28.0 2.5

11 "SR" Handy (Clean) 23,500 1989 T33-T34. 14.0 13.5 20.4 19.4 0.0 20.0 6.0

12 Dirty Products 73,000 2000 T68-T71. 13.0 13.0 25.0 19.0 3.0 56.0 3.0

1 ULCC (m id 1970s) 337,699 1975 T1. 14.0 13.5 133.8 92.9 0.0 400.0 0.0

2 VLCC (early 1990s, s /h) 291,640 mid-90s T7-T11. 14.0 13.5 67.9 48.4 0.0 280.0 0.0

3 VLCC (m id 1970s, s /h) 277,746 mid-70s T2-T6. 14.0 13.5 159.5 121.0 0.0 300.0 0.0

4 Suezmax (early 1990s, d/h) 139,497 90s T12-T13. 14.0 13.5 43.8 34.8 0.0 110.0 0.0

5 Aframax (mid 1980s) 89,636 80s T14-T20. 14.0 13.5 35.7 30.5 2.5 96.0 12.0

6 OBO (mid 1980s) 53,700 80s T21-T23. 14.0 13.5 31.8 24.8 2.5 60.0 10.0

7 Clean tanker (late 1980s) 83,955 Late '80s T24. 14.0 13.5 28.9 26.9 1.5 40.0 3.0

8 Clean tanker (late 1980s) 39,000 Late '80s T25-T27. 14.0 13.5 27.0 24.0 2.0 32.0 5.0

9 Clean tanker (mid 1980s) 29,900 Mid '80s T28-T32. 14.0 13.5 27.2 26.0 2.5 30.0 10.0

10 Clean tanker (late 1980s) 23,400 Late '80s T33-T34. 14.0 13.5 20.4 19.4 0.0 20.0 6.0

Note: The Standard Clarkson Research Ship Types have been selected in conjunction with Clarksons b rokers.

Pre-1997

1997 - 2003

2004 Onwards

Consumption At Sea, mt.Vessel Type Used



Annex 3(b) - Bulkcarrier Vessel Details

Applicable

SpeedC

ons. in Port, mt.

CR

SA

vg.C

RS

LadenB

allastC

st380M

DO

No

YoB.

VoyagesK

notsK

notsLaden

Ballast

16C

apesize (modern)

170,4502000

B27-B33, B

35-B39,

14.515.0

58.058.0

0.03.5

0.0B

61-B66.

17C

apesize149,513

1991B2-B

6, B8-B

11,13.5

13.541.4

33.50.0

1.04.0

B22-B25, B55-60.18

Panam

ax (mid 90s)

70,0001996

B48-B

54, B75-B

79.13.5

14.032.5

30.00.0

2.51.0

19P

anamax (O

BO

)75,395

1982B16, B

67.14.0

13.544.1

36.70.5

2.00.0

20P

anamax

65,2821984

B18-B20, B

41-B43,

14.013.5

33.027.8

1.03.0

2.0B

68-B74.

21P

anamax (2001)

74,0002001

B80-B

82.14.0

14.033.0

28.00.0

2.50.0

22S

upramax

52,4541997

B83.

14.014.5

30.030.0

0.02.0

0.0

13C

apesize (modern)

170,4501999/00

B27-B

40.14.5

15.058.0

58.00.0

3.54.0

14C

apesize (early 1990s)149,513

1990/91B

2-B3, B

5-B11,

13.513.5

41.433.5

0.01.0

4.0B

22-B26.

15P

anamax (m

id 1990s)70,000

1997-98B

44-B54.

13.514.0

32.530.0

0.02.5

1.016

Panam

ax (early 1980s, OBO

)75,395

1982B

12, B16.

14.013.5

44.136.7

5.02.0

0.017

Panam

ax (mid 1980s)

65,2821984

B13-B

15, B18-B

20,14.0

13.533.0

27.81.0

3.02.0

B41-B

43.

11C

apesize (early 1990s)149,513

1990/92B

1-B11.

13.513.5

41.433.5

0.01.0

4.012

Panam

ax (early 1980s, OBO

)75,395

1982B

12, B16-B

17.14.0

13.544.1

36.75.0

2.00.0

13P

anamax (m

id 1980s)65,282

1984B

13-B15, B

18-B21.

14.013.5

33.027.8

1.03.0

2.0

Note: The S

tandard Clarkson R

esearch Ship Types have been selected in conjunction w

ith Clarksons brokers.

Pre-2002

2002 - Feb 2008

March 2008 O

nwards

Consum

ption At Sea, m

t.Vessel Type U

sed

Ship TypeM

DO

Cst380

Dw

t



Annex 3(c) - Timecharter Vessel Details

Specifications of timecharter ships on page 9 of SIW: (a) “CSBC” is China Shipbuilding Corporation of Taiwan style of Capesize built in the

1980s and 1990s of approximately 149,500 dwt. (b) The Handysize dry bulk carrier is a ‘modern’ vessel, between 28-30,000 dwt and fitted

with cranes between 25-30 tonnes. (c) The Handymax is 45,000 dwt, between 5-10 years old. This was 40,000 dwt until Feb-

ruary 2002. (d) The Super Handymax (“Supramax”) is a 52,000 dwt ‘modern’ vessel. Note: 1. ‘Modern’ is taken to mean no more than ten years old. 2. The above specifications are meant to be guidelines only, and not actual ships.

Annex 3(d) - BIFFEX Standard Vessel Details

SpeedMax. Laden Ballast Cst380 (*)/Ifo180(#) MDOage Knots Knots Laden Ballast

Panamax 74,000 7 years 14.0 14.0 32 * 28 * 0.0

Supramax 52,454 10 years 14.0 14.5 30 * 30 * 0.0

Handymax 45,496 15 years 14.0 14.0 29.5 # 29.5 # 0.0

Vessel Type Used Consumption At Sea, mt.

Ship Type Dwt



Annex 4 - Earnings Equations

Tanker Calculations Bulkcarrier Calculations

EARNINGS: (E) EARNINGS: (E)

E = (R-C)/D average earnings $/day E = (R-C)/D average earnings $/day

REVENUE: (R) REVENUE: (R)

V*($*WS/100) freight revenue $ V*F freight revenue $

GRT*OPA OPA costs revenue $

COSTS: (C) COSTS: (C)

(D—dl˜*SM)*L—dfo˜*FO—d$˜ laden fuel oil cost $ ((D—dl˜*SM)+D—dc˜)*L—dfo˜*FO—d$˜ laden FO cost $

(D—db˜*SM)*B—dfo˜*FO—d$˜ ballast fuel oil cost $ (D—db˜*SM)*B—dfo˜*FO—d$˜ ballast FO cost $

(D—dl˜*SM)*L—ddo˜*DO—d$˜ laden mdo cost $ (((D—dl˜+D—db˜)*SM)+D—dc˜)* Total DO cost $

(D—db˜*SM)*B—ddo˜*DO—d$˜ ballast mdo cost $ L—ddo˜*DO—d$˜

P—dfo˜*FO—d$˜ port fuel cost $ (D—dp˜+T)*P—dfo˜*FO—d$˜ port FO cost $

P—ddo˜*DO—d$˜ port mdo cost $ (D—dp˜+T)*P—ddo˜*DO—d$˜ port DO cost $

GRT*OPA OPA premium $ P—d$˜ port charges $

P—d$˜ port charges $ C—d$˜ canal charges $

C—d$˜ canal charges $

VOYAGE TIME: (D) VOYAGE TIME: (D)

(D—db˜+D—dl˜)*SM+D—dp˜ total voyage time days (D—db˜+D—dl˜)*SM+(D—dp˜+T)+D—dc˜ total voyage time days

KEY: KEY:

Earnings: Earnings:

E Earnings $/day E Earnings $/day

R Revenue $ R Revenue $

C Costs $ C Costs $

D Voyage time days D Voyage time days

Revenue: Revenue:

V Cargo Loaded tonnes V Cargo Loaded ton(ne)s

WS Worldscale Rate rate F Freight Rate $/ton or

$ Worldscale Basic $/tonne $/tonne

GRT Vessel grt grt

OPA OPA Premium $/grt

Costs: Costs:

D—dl˜ Days Laden days D—dl˜ Days Laden days

D—db˜ Days Ballast days D—db˜ Days Ballast days

D—dp˜ Days in Port days D—dp˜ Days in Port days

L—dfo˜, B—dfo˜ FO Cons. m.t./day D—dc˜ Canal days days

L—ddo˜, B—ddo˜ DO Cons. m.t./day L—dfo˜, B—dfo˜, P—dfo˜ FO Cons. m.t./day

P—dfo˜, P—ddo˜ Port cons. tonnes L—ddo˜, B—ddo˜, P—ddo˜ DO Cons. m.t./day

FO—d$˜ Cost FO $/tonne FO—d$˜ Cost FO $/tonne

DO—d$˜ Cost DO $/tonne DO—d$˜ Cost DO $/tonne

SM Sea Margin Fixed 5% SM Sea Margin Fixed 5%

P—d$˜ Port Charges $ P—d$˜ Port Charges $

C—d$˜ Canal Charges $ C—d$˜ Canal Charges $

Voyage time: Voyage time:

D Voyage Time days D Voyage Time days

T Turn time days

General General

L Laden L Laden

B Ballast B Ballast

P In port P In port

FO Fuel oil FO Fuel oil

DO Diesel Oil DO Diesel Oil



Note Re Secondhand Price Benchmark Publication (p.8) Following the period of financial market turbulence in September 2008, Clarkson Research Services Limited (CRSL) suspended their publication of second-hand benchmark prices in Shipping Intelligence Weekly (SIW). This action recognised the difficulties in giving a representative benchmark value to the market considering the rapidly changing price levels, low levels of sale and purchase activity, (partly due to the difficulties in securing bank finance), and wide spread of price ideas of sellers and buyers. To this extent, it could have been misleading to give a benchmark index valuation without proper accompanying guidance. Accordingly, as guided in SIW throughout the period of non publica-tion of the benchmark index values, if the reader needed any valuation guidance Clarkson Valuations Limited (CVL) continued to actively provide specific valuations, including for its wide range of exist-ing clients, and remained the leading supplier of valuations to the shipping industry. Additional word-ing was developed to explain the difficulties involved in the valuation process and a regular dialogue was entered into with clients to highlight the complexities and where confidence limits on valuations were wider than normal. CRSL felt this was an important and responsible action to ensure prices produced as benchmark fig-ures, without suitable guidance and explanation, could have been misleading. In January 2010, CRSL resumed its publication of values in SIW – this decision was made on the basis that liqidity had re-turned to all the markets covered and the start year was a clean and convenient point in time to resume. The Sale and Purchase markets had returned to some form of normality with more stable pricing and greater sales volumes. These volumes culminated in December 2009 - the most active month since May 2008 reported across the sectors covered in the benchmark tables. The historical time series in the inter-vening period have been placed on Shipping Intelligence Network (SIN) but users should treat the data with caution and be aware of the periods of uncertainty discussed above.

Annex 5 - Secondhand Price Benchmark Publication

CLARKSONS Methods and Soruces for Voyage Estimations

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Transcript of CLARKSONS Methods and Soruces for Voyage Estimations