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When lifting bunkers in a TCTO voyage, multiple parties can be involved in the transaction. For example:
Scenario | Paid By | For Account | Description on the Voyage Bunkers tab |
Operator for Operator | Operator | Operator | Paid by Operator |
Operator for TCO | Operator | TCO Charterer | Supplement to Delivery |
TCO for Operator | TCO Charterer | Operator | For Operator's Account |
TCO for TCO | TCO Charterer | TCO Charterer | - |
Operator for TCI | Operator | TCI Owner | For TCI Owner's Account |
TCI for Operator | TCI Owner | Operator | Supplement to Delivery |
TCI for TCI | TCI Owner | TCI Owner | Paid by TCI Owner |
For more information about these scenarios, see the following:
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Operator for Operator
Bunkers paid by the Operator for the Operator’s Account are not settled on the TC Out contract.
For a bunker lifting, if the invoice is paid by the Operator, and the bunkers are for the Operator’s Account, the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
Operator | Operator | Paid by Operator |
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The TCO Charter Party shows the quantity and price paid in the Paid by Operator line. The price is not editable because it is a direct reflection from bunker lifting.
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When issuing a bill from the TCO Charter Party, Cost On Delivery and Cost On Redelivery check boxes are highlighted:
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When these check boxes are selected, the invoice shows three lines to settle the delivery and redelivery bunkers:
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Line 1 shows the quantity and price of the bunkers on delivery.
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For a bunker lifting, if the invoice is paid by the Operator but the bunkers are for the TCO Charterer’s Account, the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
Operator | TCO Charterer | Supplement to Delivery |
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The TCO Charter Party shows the quantity and price paid in the Supplement to Delivery line. The price is editable and should be edited to reflect the eventual bunker selling price.
Note: The eventual selling price can be different from the lifting price (autocomplete gives the CP price).
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When issuing a bill from the TCO Charter Party, in addition to Cost On Delivery and Cost On Redelivery, the Supplement to Delivery check box is highlighted:
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When these check boxes are selected, the invoice shows three lines:
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In addition to the cost on delivery and redelivery, a line appears for HSF Supplement to Delivery with the amount lifted for the TCO Charterer and paid by the Operator at the price of selling: 300 USD/MT (HSF price from the TC Out contract)
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For a bunker lifting, if the invoice is paid by the TCO Charterer but the bunkers are for the Operator’s Account, the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
TCO Charterer | Operator | For Operator's Account |
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The TCO Charter Party shows the quantity and CP price in the For Operator’s Account line. The price field is editable and should be recorded as per invoices received from the TCO Charterer. The The price field is the actual buying price from the TCO Charterer.
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When issuing a bill from the TCO Charter Party, in addition to Cost On Delivery and Cost On Redelivery, the For Owner's Account check box is highlighted:
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When these check boxes are selected, the invoice shows four lines:
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Line 1 is used to settle the delivery bunkers.
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For a bunker lifting, if the invoice is paid by the TCO Charterer but the bunkers are for the TCO Charterer’s Account, the lifting does not show on any charter party. This information is not relevant to the Platform user in this scenario; knowing this only affects the projected redelivery amount.
Paid By | For Account | Description on the Voyage Bunkers tab |
TCO Charterer | TCO Charterer | - |
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When issuing a bill from the TCO Charter Party, Cost On Delivery and Cost On Redelivery check boxes are highlighted, both settled at CP price for full Qty:
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When these check boxes are selected, the invoice shows two lines:
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The logic is as follows: The TCO Charterer is responsible for its own bunker consumption throughout the TC Out contract, so it is not important for Operator to know how much the Charterer lifted.
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For a bunker lifting, if the invoice is paid by the Operator but the bunkers are for the TCI Owner’s Account, the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
Operator | TCI Owner | For TCI Owner’s Account |
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The TCO Charter Party is the same as Operator for Operator because the TCO Charterer does not care about the final ownership of the bunkers, so long as it is not for the TCO Charterer.
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The TCI Charter Party shows the quantity lifted and lifted price, in the For TCI Owner’s Account line. The price is editable and should reflect the actual selling price to the TCI Owner.
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When making a payment from the TCI Charter Party, Cost On Delivery, For Owner’s Account, and Cost On Redelivery check boxes are highlighted:
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When these check boxes are selected, the invoice shows four lines:
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Line 1 is used to settle the delivery bunkers.
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For a bunker lifting, if the invoice is paid by the TCI Owner but the bunkers are for the Operator’s Account, the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
TCI Owner | Operator | Supplement to Delivery (TCI) |
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The TCI Charter Party shows the quantity lifted and CP price in the Supplement to Delivery line. The price is editable and should be recorded as your (Operator's) buying price from the TCI Owner.
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When making a payment from the TCI Charter Party, in addition to Cost On Delivery and Cost On Redelivery, the Supplement to Delivery check box is highlighted:
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When these check boxes are selected, the invoice shows three lines:
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In addition to the cost on delivery and redelivery, a line appears for Supplement to Delivery with the Operator paying the invoiced price to the TCI Owner.
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If a bunker is lifted and the invoice is paid by the TCI Owner, the bunkers are for the TCI Owner’s Account, and the following is shown:
Paid By | For Account | Description on the Voyage Bunkers tab |
TCI Owner | TCI Owner | Paid by TCI Owner |
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The TCI Charter Party shows the quantity only in the For Operator’s Account line. The price is neither relevant to the Operator nor editablenor editable.
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When making a payment from the TCI Charter Party, Cost On Delivery and Cost On Redelivery check boxes are highlighted:
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When these check boxes are selected, the invoice shows three lines:
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Line 1 shows the quantity and price of the bunkers on delivery.
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The lifting price does not matter to the Operator. The Operator only knows that 100 MT is for the TCI Owner's Account, hence it is outside the TC In contract.