Sheet1

Economical speed based on fuel oil price and market

Input in yellow area according to ship a Variables
TC equivalent at service speed* 10,000
Bunker price 630
Distance return 13,308
Assumption:
Operation costs 12,000
Bunker consumption at 14.5 knots* - laden 92
Bunker Fuel consumption ballast knot - 15.5 knots 85
Cargo size - tonnes 280,000
Emission factor HFO to CO2 3.1
Calculated optimal speed
Economical speed laden 9.1
Economical speed ballast knots 9.7

TC equivanlent laden at opt speed 28,322

TC equivanlent laden -charterers' cap costs 20,390
Economical speed ballast knots at opt 26,621
Increase TC result pe 135% 17,472
Speed basis at 90%MCR laden 14.5
Speed basis at 90%MCR ballast 15.5
Oil price 105
** Assumed capital costs 5%

TC equivalent Bunker consumption

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TCE TCE
Speed Laden Ballast Laden Ballast
7.0 26,287 23,768 431 326
7.5 27,131 24,683 496 375
8.0 27,761 25,437 566 428
8.5 28,163 26,019 642 485
9.0 28,322 26,417 722 546
9.5 28,225 26,621 807 610
10.0 27,857 26,620 897 678
10.5 27,204 26,403 992 751
11.0 26,251 25,960 1,093 827
11.5 24,985 25,280 1,198 906
12.0 23,390 24,351 1,309 990
12.5 21,454 23,164 1,425 1,078
13.0 19,161 21,707 1,547 1,170
13.5 16,497 19,969 1,673 1,266
14.0 13,448 17,941 1,805 1,366
14.5 10,000 15,610 1,943 1,470
15.0 6,138 12,967 2,086 1,578
15.5 1,849 9,794 2,235 1,690
16.0 -2,882 6,699 2,389 1,807
16.5 -8,070 3,052 2,549 1,928
17.0 -13,728 -950 2,715 2,053
17.5 -19,871 -5,319 2,886 2,183
18.0 -26,513 -10,065 3,063 2,317
18.5

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$/day tonnes CO2 emission

TC Equivalent, Emission and Operation costs
40,000

32,000

24,000

16,000

CO2 emission
8,000
TCE Laden
TCE Ballast
Operation costs
TCE w. cap costs**

0
7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15

Reduction CO2 emission per tonne-mile 12 versus 14 knots -27%

**

Bunker cost Net freight Days

Emission Tonne miles

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Laden Ballast Laden Ballast Laden Ballast Emission Tonne miles

271,323 205,223 1,365,059 ### 1,194,125 41.6 41.6 2,354 1,863,120,000
312,537 236,397 1,369,746 ### 1,198,225 39.0 39.0 2,711 1,863,120,000
356,814 269,887 1,374,432 ### 1,202,325 36.7 36.7 3,095 1,863,120,000
404,184 305,716 1,379,119 ### 1,206,425 34.6 34.6 3,506 1,863,120,000
454,673 343,906 1,383,806 ### 1,210,525 32.8 32.8 3,944 1,863,120,000
508,312 384,477 1,388,493 ### 1,214,625 31.2 31.2 4,409 1,863,120,000
565,127 427,451 1,393,180 ### 1,218,725 29.7 29.7 4,902 1,863,120,000
625,149 472,850 1,397,867 ### 1,222,825 28.4 28.4 5,423 1,863,120,000
688,405 520,696 1,402,554 ### 1,226,925 27.2 27.2 5,971 1,863,120,000
754,924 571,009 1,407,241 ### 1,231,025 26.1 26.1 6,548 1,863,120,000
824,734 623,812 1,411,928 ### 1,235,125 25.1 25.1 7,154 1,863,120,000
897,864 679,127 1,416,614 ### 1,239,225 24.2 24.2 7,788 1,863,120,000
974,343 736,974 1,421,301 ### 1,243,325 23.3 23.3 8,452 1,863,120,000
1,054,199 797,375 1,425,988 ### 1,247,425 22.5 22.5 9,144 1,863,120,000
1,137,460 860,352 1,430,675 ### 1,251,525 21.8 21.8 9,867 1,863,120,000
1,224,155 925,926 1,435,362 ### 1,255,625 21.1 21.1 10,619 1,863,120,000
1,314,313 994,120 1,440,049 ### 1,259,725 20.5 20.5 11,401 1,863,120,000
1,407,962 1,064,954 1,444,736 ### 1,263,825 19.9 19.9 12,213 1,863,120,000
1,505,130 1,138,450 1,449,423 ### 1,267,925 19.3 19.3 13,056 1,863,120,000
1,605,847 1,214,630 1,454,110 ### 1,272,025 18.8 18.8 13,930 1,863,120,000
1,710,140 1,293,515 1,458,797 ### 1,276,125 18.3 18.3 14,834 1,863,120,000
1,818,038 1,375,127 1,463,483 ### 1,280,225 17.8 17.8 15,770 1,863,120,000
1,929,570 1,459,488 1,468,170 ### 1,284,325 17.4 17.4 16,738 1,863,120,000
17.0 17.0

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tonnes CO2 emission

ts
15,000

A vessels income is calculated based

The net freight is a function of World

12,000
Net freight= Grossfreight -commision

9,000 x = speed

f(x) = time charter as a function of spe

6,000
f(x) = Net freight/days(x)-Bunkercost(

The netfreight is based on a basis spe

3,000

Net freight/day(x) = TCbasis*x/vo+BC

0
0 14.0 15.0 16.0 17.0
Speed

Capital cost

Emission/Tonn
e miles

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Emission/Tonn (Vx/Vbas
e miles Tonne miles Speed % is)^3 Laden
0.0013 584,618 48% 0.12 12,000 12236 310083.27
0.0015 506,669 52% 0.15 12,000 14128
0.0017 438,463 55% 0.18 12,000 15800
0.0019 378,282 59% 0.22 12,000 17236
0.0021 324,788 62% 0.26 12,000 18422
0.0024 276,924 66% 0.30 12,000 19345
0.0026 233,847 69% 0.35 12,000 19990
0.0029 194,873 72% 0.40 12,000 20343
0.0032 159,441 76% 0.45 12,000 20390
0.0035 127,091 79% 0.52 12,000 20117
0.0038 97,436 83% 0.58 12,000 19509
0.0042 70,154 86% 0.65 12,000 18552
0.0045 44,971 90% 0.73 12,000 17233
0.0049 21,653 93% 0.82 12,000 15536
0.0053 0 97% 0.90 12,000 13448
0.0057 -20,159 100% 1.00 12,000 10954 832,143
0.0061 -38,975 103% 1.10 12,000 8041
0.0066 -56,576 107% 1.21 12,000 4694
0.0070 -73,077 110% 1.33 12,000 899
0.0075 -88,578 114% 1.45 12,000 -3359
0.0080 -103,168 117% 1.58 12,000 -8093
0.0085 -116,924 121% 1.71 12,000 -13318
0.0090 -129,915 124% 1.86 12,000 -19048

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s income is calculated based on WS taking into account cargo, volume, bunker cost, voyage cost , port cost, etc.

freight is a function of World scale points and based on a certain speed V0. At that speed the vessel has an est

ht= Grossfreight -commision

me charter as a function of speed

et freight/days(x)-Bunkercost(x)-Voyage cost/day(x)

reight is based on a basis speed basis consumption and basis voyage cost and can be written as

ht/day(x) = TCbasis*x/vo+BCbasis*BP*x/v0+Voyage cost/day(x)

where

v0 = basis speed should be chosen as the speed at 90 %MCR

TCbasis = Time charter based on v0

BCbasis = Bunker consumption based on v0
BP = Bunker price
day(x) = factor for number of days of voyage

The bunker consumption is varying as a function of the speed with a exponent of power of 3 and can b

Bunkercost(x)/day(x) = BP*BCbasis*(x/v0)^3

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by combining these equation you will get the following equation

f(x) = TCbasis*x/vo+BCbasis*BPx/v0+Voyage cost/day(x)- BP*BCbasis*(x/v0)^3 - Voyage cost/day(x)

f(x) = TCbasis*x/vo+BCbasis*BP*x/v0- BP*BCbasis*(x/v0)^

The derived function is

f(x)’ = TCbasis/vo+BP*BCbasis/v0- BP*BCbasis*3*x^2/v0^3

By setting this function to zero the theoretical economical speed will be found.
f(x)’= 0
x = SQRT( (TCbasis+BP*BCbasis)/(3* BP*BCbasis)*v0^2)

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voyage cost , port cost, etc. Based on the WS for a specific voyage a net freight is calculated. The target with this

speed the vessel has an estimated bunker consumption BCbasis. The actual bunker consumption is will vary with

SQRT

e written as

nent of power of 3 and can be written as :

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v0)^3 - Voyage cost/day(x)

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lculated. The target with this exercise is to optimise the income per day as a function of speed.

consumption is will vary with the chosen speed.

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