Page Comparison

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• You will choose a washout vessel. The purpose of creating and selecting a specific washout vessel is that it allows us to easily manage and reference these washout contracts going forward, along with helping to manage any trading impact.

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• You will create the relet from the Cargo contract instead of the Estimate.

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1. Open an unscheduled Cargo.

2. Click the Relet toolbar button and then click Link to New VC In.

   

3. On the VC In form, complete the following fields:

   1. Owner: This should be the same as the Charterer in the Cargo contract because you are closing out the agreement with that counterparty.

   2. Nominated Vessel: Choose the washout vessel for your specific trading desk.

   3. Depending on the Freight Type:

      • L: Lumpsum, which is a flat, agreed-upon settlement amount.

      • F: Frt Rate, which will result in the agreed washout amount.
        Example: If the original freight rate for the Cargo was $25/MT for 30,000 MT, and the settlement amount is $600,000, then the washout rate is $5/MT.

      • Any other form of freight.

   4. Status: Set to Confirmed.

4. Save the VC In.

5. Schedule the voyage.

6. Financially close the voyage.