Overview: Delivery (Y) and Redelivery (Z) are Time Charter Out specific port functions used to mark the exact contractual handover times of the vessel. They synchronize time, fuel, and hire calculations between Voyage Manager and Time Charter forms and must be correctly placed in the itinerary to maintain contract linkage and accurate P&L.
How are Delivery (Y) and Redelivery (Z) used by IMOS?
Delivery (Y): Specifies the moment the vessel is delivered under a Time Charter Out. Redelivery (Z): Specifies the moment the vessel is returned under a Time Charter Out. These functions are necessary for OVTO or TCTO voyages to sync time and fuel between Voyage Manager and Time Charter contracts.
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Y = Delivery: Starts the TC hire period operationally; establishes initial bunkers and timing context.
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Z = Redelivery: Ends the TC hire period operationally; finalizes bunkers and timing for settlement.
These functions are distinct from cargo operations. Even if delivery/redelivery occur at the same physical ports as load/discharge, keep Y/Z in the itinerary to preserve the contract link. Both the arrival and departure time and bunkers at the Y/Z ports should be the same. Add L/D ports separately for cargo handling.
Why about Time Charter In voyages (OVOV/TCOV)?
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Hire timing: Commencement date of the first voyage starts hire; completion date of the last voyage ends hire. No Delivery (Y) or Redelivery (Z) port is required.
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If a vessel is delivered to a different location than the load port, then the first port should be a Commencing (C) port and the departure time is used for delivery. Otherwise, the first port can be changed to the load (L) port, and the arrival time will be used for delivery.
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If the vessel is redelivered to a different location than the last discharge port, then the arrival time at a Terminating (T) port can be used for redelivery. Otherwise, the departure time from the final port, such as last discharge (D) port, will be used for redelivery.
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Bunkers: Initial Bunker Qtys within Voyage Bunkers will be used for delivery bunkers, and can be split into multiple bunker lots as required. As per Hire Timing, the arrival bunkers at the Terminating (T) port, or the departure bunkers of the last port will be used for redelivery bunkers.
If it is essential to use the delivery (Y) and redelivery (Z) functions for TCOV and OVOV voyages. While it is not required, it is still possible. Operators would need to be manually update both the arrival and departure time and bunkers to be the same.