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When lifting bunkers in a TCTO voyage, multiple parties can be involved in the transaction.
Scenario | Paid By | For Account | Description on the Voyage Manager Bunkers tab | |||
Operator | Operator | Paid by Operator | ||||
Operator | TCO Charterer | Supplement to Delivery | ||||
TCO Charterer | Operator | For Operator's Account Table of Contents | | |||
Scenario 4: TCO for TCO style | none | | TCO Charterer | TCO Charterer | - | |
Operator | TCI Owner | For TCI Owner's Account Table of Contents | | |||
Scenario 6: TCI for Operator style | none | | TCI Owner | Operator | Supplement to Delivery toc | |
TCI Owner | TCI Owner | Paid by TCI Owner 1 | 1 | |
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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.
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Paid By | For Account | Description on the Voyage Manager Bunkers tab |
Operator | Operator | Paid by Operator |
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The logic is as follows: The Operator has paid the bunkers at lifted price outside the TC Out contract, but the Operator is still buying all bunkers from the TCO Charterer on redelivery @ CP price, including the bunkers paid by the Operator. Hence, the Operator deducts the money from the bill to the TCO Charterer.
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Operator for TCO
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 Manager Bunkers tab |
Operator | TCO Charterer | Supplement to Delivery |
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In addition to the cost on delivery and redelivery, a line appears for IFO Supplement to Delivery with the amount lifted for the TCO Charterer and paid by the Operator at the price of selling: 600 USD/MT (IFO price from the TC Out contract)
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TCO for Operator
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 Manager Bunkers tab |
TCO Charterer | Operator | For Operator's Account |
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The logic is as follows: The payable redelivery quantity @ CP price should be less than the total quantity redelivered because part of the redelivered quantity already belongs to the Operator when the TCO Charterer gets the lifting. Subsequently, the Operator settles this amount at the buying price with the Charterer (line 4).
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TCO for TCO
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 IMOS user in this scenario; knowing this only affects the projected redelivery amount.
Paid By | For Account | Description on the Voyage Manager Bunkers tab |
TCO Charterer | TCO Charterer | - |
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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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Operator for TCI
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 Manager 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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Similarly, the Operator subtracts the Owner’s Account (600 MT) from redelivery bunker quantity from TCI payment @ CP price and separately claims via Owner’s Account Paid by Charterer @ selling price.
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TCI for Operator
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 Manager Bunkers tab |
TCI Owner | Operator | Supplement to Delivery (TCI) |
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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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TCI for TCI
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 Manager Bunkers tab |
TCI Owner | TCI Owner | Paid by TCI Owner |
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