Consider the case of **Handysize bulk carrier vessel** with the following specifications:

•** About 33,00 DWT**

**• Grain/Bale: 46,000/45,000 (m3)**

**• 1,625,000/1,590,106 cubic feet (1 cubic foot = 0.0283)**

The ship has the option to load the following three alternative cargoes:

**1. Iron ore SF: 14 cubic feet per ton / 0.40 m3 per ton**

Since iron ore is bulk, we will use the grain capacity: grain capac- ity in cubic meters/stowage factor in m’ per ton = 46,000/0.40 =115,000 tons.

DWT is 33,000, therefore the maximum weight the ship can carry is 33,000 tons, not 115,000. There is sufficient space to load 115,000 tons, but weight capacity does not allow it (DWT constraint). In any case, the maximum that can be loaded is DWT capacity.

**2. Grain in bags SF: 45 cubic feet per ton/1.30 m3 per ton **

Since grain is in bags we will use the bale capacity: bale capacity in cubic meters/stowage factor in m3 per ton = 45,000/1.30 = 34,615 tons.

The DWT is 33,000 tons, thus the maximum load for the ship is the DWT. The ship can load 33,000 tons because there is capacity for 34, 615 tons.

**3. Woodchips SF: 90 cubic feet per ton/2.50 m3 per ton**

Since the woodchips are bulk, we will use the grain capacity: grain capacity in cubic meters/stowage factor in m3 per ton = 46,000/2.50= 18,400 tons.

DWT is 33,000 tons. In this case, the ship could have lifted 14,600 more tons, but there is not enough space (space constraints). In terms of space, the ship can only load 18,400 tons.

The content of an order for a voyage charter will contain the following parameters:

• Charterer’s name and domicile

• Cargo description

• Loading and discharging ports

• Laycan

• Loading and discharging rates and terms

• Any restrictions regarding type or size of ship

• C/P form on which the charterer wishes to base the terms and conditions

• Commissions to be paid by the owner

Here is an example of a voyage order.

• Acct: South Africa Minerals, Richards Bay, South Africa

• 25,000 Mt. Ore Harmless in Bulk SF 22-23

• Richards Bay/Bourgas or Iskenderun Chopt

• Second half March

• 5,000 PWWD SHINC/4,000 PWWD SHIKC

• Max 20 years old

• GENCON

• 2.5 percent TTL

The example of a voyage order indicates that the charterer, South Africa Minerals, domiciled in Richards Bay, South Africa, is interested in chartering a ship to transport 25,000 metric tons of the ore Ferromanganese in harmless bulk form and with stowage factor of

22-23 cubic feet per ton from Richards Bay to any port in the range Bourgas/Bulgaria to Inskenderun/Turkey at the charterer’s option. The trip should begin in the second half of March, the required loading and discharging rates are 5,000 tons and 4,000 tons respectively per weather working day, and Sundays and holidays are included in the calculation of laytime. The ship is to be a maximum of twenty years old, and the Gencon charter party will be used. A total (TTL) of 2.5% commission will be paid.