IMOS - Linking Bunker Swaps to Voyages

You can link Bunker Swaps to voyages, to show the gain or loss when a Bunker Swap is used to hedge against bunker exposure of contracts.

Linking Bunker Swaps to Contracts

On the Cargo Exposure tab, or on the Time Charter Out Bunker Swaps tab, in the Linked Bunker Swaps table, specify the Bunker Swap lots (per month). Only those that are not linked to any other contract can be selected. They can be linked at any point in the contract, before or after scheduling.

After a Bunker Swap is linked to a scheduled Cargo or TCO, it is no longer considered as exposed in the Trading P&L, because it is included in the P&L of the contract.

Bunker Swaps in the Voyage Details Form and Accruals

• You can see all the linked trades on the Bunker Swap tabs of the Bunkers form. To access a Bunker Swap, right-click its line and click View Bunker Swap.

• When a voyage has a linked Bunker Swap, a Bunker Swaps item is added to the Expenses section of the Voyage P&L, under Bunkers. In this section, the trades are displayed per their lots, and the commission amounts are broken down as well. The Accruals for this item are calculated on the gross Bunker Swaps amount. To accommodate the Bunker Swaps Accruals, add the following Business Rules:
  • MACR:IS-BUNKERSWAPPL - Bunker Swaps - Accruals Income Statement
  • MACR:BS-BUNKERSWAPPL - Bunker Swaps - Accruals Balance Sheet

Trade and Commission Settlements

If a Bunker Swap was linked to a voyage, then a newly created Settlement/Settlement Commission Invoice for that trade is automatically assigned to the vessel/voyage, and after posting, it appears in the Voyage P&L.

If Settlement/Settlement Commission Invoices were already created:

• If they were not posted before linking, they are automatically linked to the vessel/voyage.
• If they were posted before linking, allocation journals are automatically created, to relink the invoices to the voyage. For these journals, add the following Business Rules:
  • BSWJ:BSPCL - Bunker Swaps Allocation (Clearing House)
  • BSWJ: BSPCLR - Bunker Swaps Allocation (Clearing House) - Assigned to Voyage
  • BSWJ:BSPST - Bunker Swaps Allocation (Counterparty)
  • BSWJ:BSPSTR - Bunker Swaps Allocation (Counterparty) - Assigned to Voyage
  • BCMJ:BSPCM - Bunker Swaps Commission Allocation
  • BCMJ:BSPCMR - Bunker Swaps Commission Allocation - Assigned to Voyage