IMOS - Head Fixture

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Creating a Time Charter In contract for a vessel with ownership type OV defaults the Contract Type to be Own Vessel, with the owner and the company from the Vessel form. A contract of type Own Vessel is a Head Fixture.

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A Head Fixture contract is similar to a Time Charter In contract, but with the following differences:

• Status selections also include Under Construction, Purchased - Not Delivered, and Sold.

• It has a Share In Contract field, with a percentage value that defaults to 100.

• There is no Brokers table.

• It has Purchase and Sale tabs; on each, the counterparty, payment terms, broker information, and other relevant data can be recorded.

• On the Sale tab, the Delivery Date defaults to the Est Redelivery of the contract.

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• The Own Vessel check box on the Exposure tab is automatically selected, and the exposure is the same as any Own Vessel Contract. For statuses Under Construction, Purchased - Not Delivered, and Sold, the contract is not in exposure.

• A Head Fixture contract has an ID of XXX-OVYYYY, where XXX is the Vessel Code and YYYY is a global sequential number.

• It is not possible to create a Head Fixture for a vessel that already has an active Head Fixture.

• When creating a new OV** Voyage, you can link a Head Fixture contract. For the first linked voyage, the bunker prices and quantities are retrieved, and for the rest of the voyages, the daily cost is calculated according to the Hire specified in the contract.

• Head Fixture contracts can be found in the TC In List. You can filter the list by the Contract Type column. Other Head Fixture-related columns:

  • Department

  • Min/Max Less/More Days

  • Vessel Head Owner: The Vessel Owner’s Parent Company, which can be entered on the Address Properties panel.

  • Others, all with prefix HF