On the Bunkers tab of a Time Charter (TC), a Bunkers on Consumption check box appears. Depending on the contract type, it serves different purposes.

Time Charter In

When you select Bunkers on Consumption for a TC In:

• TC bunker adjustment is the difference between the owner bunker cost and TC contract bunker cost.

  • You do not know the vessel's FIFO, therefore the owner's cost is unknown. You calculate redelivery adjustment as for the duration of the TC In.

  • You start your FIFO and by the time of redelivery, so you know your cost of bunkers on board.

Time Charter Out

As the TC owner for TC Out contracts, you know the delivery and redelivery quantity and price. As a result, on the TC Out Bunkers tab, you can select the Bunkers on Consumption to calculate delivery and redelivery adjustments.