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1.0 Introduction
When a user operates a Time Charter Out voyage, there could be two types of preferences on how to manage the voyage on VMS. The preference dictates which Module Type to create as a voyage. There are two types of Time Chartering Out: TC Voyage or Long Term Time Charter Long Term Time Charter (LTTC) otherwise known as TC Out.
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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).
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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 LTTC Voyages. For example, there could be 10 LLTC voyages within the long term TC period. |
TCE | Covers only one TC Voyage | Covers multiple 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. 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 LTTC voyages follows same voyage sequencing number. |
Module Type Name | TC Voyage | LLTC |
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