Home > Chartering FAQs > How is Daily Cost determined on the Speed Comparison Analysis form?

On the Speed Comparison Analysis form, Daily Cost is an average of the Hire Rate found on the Time Charter (TC) contract linked to the Estimate.

Example

The TC In Hire Rate is $4,000 for the first 10 days and $10,000 for the next 10 days:

If the Estimate commences exactly at the start of the hire period (04/01/17 12:00), then the average Daily Cost is calculated to be $7,000 for the 20 voyage days:

[($4,000 * 10 Days) + ($10,000 * 10 Days)] / 20 Total Days = $7,000/Day