Company contracts with ship to Spot or term purchase of petroleum Voyage undertake voyage from load port to or petroleum products. Charter discharge port. Generally used when sourcing Specific cargo terms including and products from supplying voyage charter party. locations where good vessel Cost determined on lumpsum or liquidity available for ongoing benchmark (see discussion on requirements. Worldscale) - includes all ship costs including port costs (both ends). Owner responsible for providing vessel and operation. Company contracts with ship to Term purchase of petroleum of Contract of undertake series of voyages from petroleum or petroleum products. the load port to the discharge port. Reduced or poor vessel liquidity for (COA) Ship owner provides suitable vessel ongoing cargo requirements. on required timing for each voyager with agreed notice. Specific cargo terms including voyage charter party. Cost determined on lump sum (per voyage) or benchmark (see discussion on Worldscale in 6.1) - includes all ship costs including port costs both ends. Owner responsible for vessel operation. Company contracts with ship owner Limited or no liquidity of vessels Time to provide specific vessel for required to perform task. Charter specified period. Company has specific operational Company directs where the vessel needs requiring it to control is to go. deployment. Company pays time charter fee ($ Common in coastal operation where 000s per day) covering cost of domestic refining used to supply vessel and crew. seaboard markets. Company responsible for ship fuel and port costs. Owner responsible for vessel operation, insurances and certification. Ship owner provides specific vessel Limited or no liquidity of vessels Demise or for (typically) long period. required to perform task. bareboat charter Company acquires full control but is Company has specific operational responsible for all operation requiring it to control (including surveys for maintenance deployment. of class) and insurances. Common in coastal operation where Company responsible for crewing. domestic refining used to supply seaboard markets. Documentation
Voyage Charter Company contracts with ship to undertake voyage from load port to discharge port. Specific cargo terms including voyage charter party. Cost determined on lumpsum or benchmark (see discussion on Worldscale) - includes all ship costs including port costs (both ends). Owner responsible for providing vessel and operation. Spot or term purchase of petroleum or petroleum products. Generally used when sourcing and products from supplying locations where good vessel liquidity available for ongoing requirements. Contract of (COA) Company contracts with ship to undertake series of voyages from the load port to the discharge port. Ship owner provides suitable vessel on required timing for each voyager with agreed notice. Specific cargo terms including voyage charter party. Cost determined on lump sum (per voyage) or benchmark (see discussion on Worldscale in 6.1) - includes all ship costs including port costs both ends. Owner responsible for vessel operation. Term purchase of petroleum of petroleum or petroleum products. Reduced or poor vessel liquidity for ongoing cargo requirements. Time Charter Company contracts with ship owner to provide specific vessel for specified period. Company directs where the vessel is to go. Company pays time charter fee ($ 000s per day) covering cost of vessel and crew. Company responsible for ship fuel and port costs. Owner responsible for vessel operation, insurances and certification. Limited or no liquidity of vessels required to perform task. Company has specific operational needs requiring it to control deployment. Common in coastal operation where domestic refining used to supply seaboard markets. Demise or bareboat charter Ship owner provides specific vessel for (typically) long period. Company acquires full control but is responsible for all operation (including surveys for maintenance of class) and insurances. Company responsible for crewing. Limited or no liquidity of vessels required to perform task. Company has specific operational requiring it to control deployment. Common in coastal operation where domestic refining used to supply seaboard markets. Documentation
aust-maritime-petroleum-supply-chain-report-2013.docx