You are the owner of a 60,000 dwt bulk carrier (speed 12 knots) which is about to discharge in Brisbane. You have been offered 57,500 tonnes of wheat from Brisbane to Alexandria (via Suez) at $20.0 per tonne. The distance between Brisbane and Alexandria is 17,568 miles. 7 days laytime to load, and 7 days laytime to discharge. Allow for one day delay for the transit of the Suez Canal. Brokerage and address commission are ignored for this question.
Daily operating costs $4,500, daily finance costs $3,500.
Port costs: Brisbane $75,000 Alexandria $50,000 Suez charges: $17,550 Consumption: 32.5 tons FO per day steaming 2.5 tons DO per day in port and at sea You will need to bunker at Brisbane. Prices are reported to be $250 per ton for DO and $140 per ton for FO.
a) Calculate the cost per ton of cargo and total cost of the voyage. Show your workings. Marks are given for a correct explanation and method of working. (50 marks)
b) Would you accept this cargo or a six-month time charter at $10,000 a day? Give reasons for your answer, which should include an assessment of the current and expected future freight market for dry bulk. (50 marks)
