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1.0 Introduction
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As the name of the Module describes, LTTC is for Long Term Time Charter. Below is a visualization of how the two differ from each other in terms of their structure.
2.0 Differences
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Scenario 01: You are time chartering out your vessel to a charterer for 1.5 years. During these 1.5 years, there are many voyages the vessel will service. Your charterer is operating 20 spot voyages within this 1.5 years. You like to keep a record of your charterer’s full itinerary (Delivery/ Load/ Discharge/ Fuelling/ Redelivery Ports).
Suggestion 01: You will have an extensive list of the itinerary in this long TC period, which makes users you and VMS challenging a challenge to manage if you are using in a TC Voyage. Rather than having the full itinerary in a single TC Voyage, split them up into multiple LTTCs. In this case, you may use LTTC. Each LTTC created represents a complete voyage (Load to Discharge).
Scenario 02: You are time chartering out your vessel to a charterer for 1 one Time Charter Trip (TCT). Your charterer will redeliver your vessel upon completion of one Spot Voyage.
Suggestion 02: You may create TC Voyage.
Scenario 03: You are time chartering out your vessel to a charterer for 2 years. During this period, you have no interest in keeping track of the vessel’s full itinerary. You only have the interest in indicating to record the Delivery/Redelivery port and its ROB as a form of recordROBs.
Suggestion 03: Though there can be multiple spot voyages stretched across the 2 years, you are only keen to record the Delivery and Redelivery ports. You do not have to rely on LTTC. You only needed to use TC Voyage.
Items | TC Voyage | TC Out |
Usage | For short TC period generally less than 1 year. | For TC period generally more than 1 year. |
Voyage Structure | The entire TC period is within the same Voyage | The entire TC period is consisting with several TC Out LTTC Voyages. For example, there could be 10 TC Out LLTC voyages within the long term TC period. |
TCE | Covers only one TC Voyage | Covers multiple TC Out LTTC Voyages |
TCE Interface | Located on the Voyage Page | Located inside the "TC Out“ fixture |
Hire Invoice | Created from Revenue> TC Invoicing. Refer to TC Voyage Invoicing | Created from TC Out fixture> Financial. Under Financial, ‘Period’ needs to setup as a base which includes the main periodic invoice items such as Hire, CVE and Commission. Invoices are created from the period setup. Refers to Screenshot 02. Adhoc items such as BOD/BOR, Offhires are needed to input manually. Unlike ‘TC Voyage’, they do not pull data from the voyage. |
Voyage Number | Follows same voyage sequencing number. | Each of the TC Out voyage LTTC voyages follows same voyage sequencing number. |
Module Type Name | TC Voyage | LLTC |
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