Estimated Cargo

To calculate despatch, one should take the estimated cargo – 14,783 tonnes – and divide same by the loading rate of 1500 tonnes daily.  You will be left with almost 10 days.  Loading will take approximately 2 days, and this can be deducted, to leave 8 days.  Should the vessel arrive and load in midweek, then this will be the figure on which to base despatch.  If, however, loading takes place over a weekend, time loading might not count (if it were, for example, SHEX EIU).  The question does not refer to this aspect and also fails to state if despatch is to be calculated on the basis of “all time saved” or on “working time saved”.  Let us suppose the latter and, in the final analysis allow 8 days for despatch at Mauritius. It is now simply a matter in this fourth and final stage of calculating the income and the estimated result.  We are told the freight rate is £14 per tonne which (at the exchange rate of US$1.50 to £1.00) equates to $21. Thus: 14,783 tonnes cargo @ $21 per tonne less 5.5% total commission leaves us with a nett freight of $293,369. From this must be deducted the total expenses of $156,886, leaving a Gross Voyage Surplus of $136,483. This latter figure is then divided by the estimated number of days required to perform the voyage – see the itinerary in Stage 1 – and we have a return of $2,437 gross daily (i.e. before the application of daily vessel running costs). We are not told about running costs in the question, so there is no need to mention them.  If, on the other hand, running costs were featured, it is a task of seconds to deduct daily running costs from the gross daily income so as to arrive at the net daily income. So, voyage alternative one is completed.  Let us now turn to the second part of the question – the voyage via Durban and the Cape of Good Hope. Again, this must be tackled in strict sequence.