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Voyage Estimator

Marine

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Shubham Kumar
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212 views4 pages

Voyage Estimator

Marine

Uploaded by

Shubham Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Voyage Estimator

Solverminds Solutions & Technologies Pvt. Ltd.


1. Introduction
Introduction
Voyage Estimator is the most advanced decision support solution to
evaluate the accuracy of voyages. It calculates profitability based on
the estimated figures. The ship owner / charterer can estimate the
voyage for different vessel for the differen t cost.

The estimation calculation is done based on the Business Plan,


Schedules, Load and Discharge Ports, Proforma details including
Vessel Cost, Commodity, Cargo Capacity, Vessel Speed, Bunker
Consumptions, Port Expense and the Average Type and Size of Ship
under the same market conditions. Voyage Estimation is used to
compare the revenue with the total costs of the same voyages for the
different vessel and to find which vessel is the most profitable.

2. Why do we need Voyage Estimator?


Voyage estimation is vital to the profitability of liner
business. So why rely on manual methods, spreadsheets
or over-complex systems when you could be using an
automated system? Voyage estimator is not only faster
and more accurate but also makes it simple to compare
all the options.

Voyage estimator minimizes the manual intervention to


reduce the error and provides quick information about
the proforma detail with total moves, productivity,
distance, speed, bunker type, canal crossing and pilotage
details in single click, which is fetched from the proforma
schedules for the particular service. Multiple ports can be
included in single proforma. Based on the proforma
parameters; the vessel departure date is estimated from
the arrival date.

The accuracy of total voyage expenses can be achieved by providing the exact port expenses cost, bunkering
cost, port and pilotage (cost calculates from the bunker rate for the current year), charterer hire amount, canal
crossing cost, and insurance cost (if applicable) from the database in a single screen. The multiple vessels can
be added for comparing the vessel expense variation. From the costs estimation, charterer / ship owner can
plan for optimal sized ships, which can reduce the overall voyage cost.
The ship owner / charterer can estimate the total
revenue from cargo details or data as received from
cargo owners. Freight rate can be calculated for
different charge basis example metric ton, kilos, pounds,
lane meter (based on surface allocated on the ship) &
revenue per ton (depends on volume or weight
whichever is higher in value) of each cargo. The users can
also select the different terms of shipment such as Free
In / Out, CY / CY and Stowage, Liner, Free In & FAS (Free
Along Side), Free In & Free Out, Liner In, Free out, Free In
& Liner Out for commodities.

The cargo handling cost is defined based on the port cost


and the activity involved such as loading / discharging.
Demurrage (leaving beyond agreedship time to stay in
port) / Despatch (leaving before agreed ship time to stay
in port) cost of ship is calculated by the system.

For the ship owner / charterer who need to make the right voyage estimation decisions and make the optimal
use of their fleet, Voyage Estimator provides a quick and intuitive system to compare different vessel and help
ship owners / operators to fix the most profitable voyages.

3. How better results can be achieved with


Voyage Estimator?
Accurate voyage estimation is very important to every ship owner
and charterer. Voyage estimator can improve the accuracy of
estimation and improve the customer satisfaction by
understanding the following concepts.

Estimation of daily operating costs, individual operation


cost and route calculation
Provision added for planning the bunker ports related to
both bunker cost and cargo maximization
Comparisons with different vessels for the voyage
The cargo freight rate charges calculation based on the
various parameters as metric ton, kilos, pounds, lane
meter and revenue per ton
Financial summary with voyage details, revenue, cargo
handling cost, vessel cost, voyage result and KPI (Key
Performance Index) for Profit and loss analysis

Estimation analyzes any combination of vessels, cargoes, load, and discharge operations on a voyage and /
or Time Charter (TC) basis. The estimator allows unlimited numbers of ports and cargoes per voyage and
displays all key information on a single screen.
4. Impacting the Bottom Line
When dealing with estimates, the voyage analyst team
deals with issues of accuracy in cost estimation. The high
accuracy of estimation is reached with voyage estimator,
which calculates the multiple consecutive voyages and
combinations and analyzes the outcome of voyages,
potential profit or loss before arrangements of
transportation.

Solverminds is the leading software provider for Liner


companies and developed the Voyage estimator solution;
the solution helps in better planning, chartering decisions,
increased operator productivity, higher fleet utilization and
automated invoicing and streamlined processes between
chartering, operations, and accounting.

5. Unique Features
Accurate voyage estimation
Different cargo and vessel combinations and seeing commercial outcome
Ability to calculate the expense for every port based on the bunker type
The cargo freight rate charges calculation based on the various parameters such as metric tons, kilos,
pounds, lane meter and revenue per ton
The cargo handling charge calculation based on the various terms such as Free In/Out, Free In/Out and
Stowage, Liner, Free In & FAS, Free In & Free Out, Liner In, Free out, Free In & Liner Out
Provision added to calculate the Demurrage / Despatch cost

5. How to achieve better resluts?


Integrated system with proforma service and bunker management modules to reduce the manual
intervention of the information
Ability to view financial summary with various cost and KPI (Key Performance Index) for profit and
loss analysis
Canal transit times and cost calculation (Panama &Suez)

© Copyright. All rights Reserved. Solverminds Solutions & Technologies Pvt. Ltd.

[email protected] | www.solverminds.com

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