A Time Charter (TC) In scrubber vessel is using 3.5 high-sulfur fuel (HSF at $300/MT) and, per the owner’s request, a scrubber premium is applicable on delivery bunkers and on each bunker lifting. The premium is $40/MT, it is included in the Hire Statement, and it also affects the consumption of each lifted quantity.
Also the premium is payable to Owner via a Periodic or Special TC Hire invoice and it will be displayed in the Statement of Accounts and/or Hire Statement
Include the Premium in the Delivery Bunkers
On the TC In Bunkers tab, set the price of the delivery bunkers as $340/MT ($300/MT fuel price + $40/MT premium).
Notice also that, in the Voyage P&L, the consumption price of the delivered HSF is $340/MT:
Include Premium on Lifted Bunkers
When HSF is lifted during the voyage, the base fuel price is $310/MT.
After the original Bunker Invoice is received from the bunker vendor, a second Bunker Invoice for the same lifting will be created to reflect the premium price. For this second invoice, in the Address Book, you must do one of the following:
Create the vessel owner as a bunker vendor.
Create a new placeholder bunker vendor.
On the Voyage Bunkers form, right-click the lifting line and then click Create Bunker Invoice:
On the invoice, select the owner or placeholder as the bunker vendor, add a new row, and select the fuel HSF. Leave the Inv Qty as 0.000 and enter Oth Cost the premium amount multiplied by the Opr Qty. In the following example, Oth Cost is $40/MT x 400 MT = $16,000:
Depending on your accounting principles, you may choose to either:
Leave this invoice unsettled.
Create a placeholder bank to settle this invoice.
Open the Voyage P&L and view the consumption cost of the lifted quantity: $310/MT (fuel price) + $40/MT (premium) = $350/MT
Include Premium in Hire Invoice and Hire Statement
Create a dedicated Operation Ledger code
2. Setup the business rule under TCIP
3. Create a TC Hire Payment by selecting a Misc. Adjustment item (the premium must not impact the voyage PnL since it is already included via the additional bunker invoice). In the code of the invoice line select the Operation Ledger code for Scrubber Premium
4. Observe the Premium item under Adjustments in the Hire Statement