Relets

Short Description

A relet can be defined as the act of sub-chartering a cargo to other owners to transport. A relet always covers the entire voyage of a relet cargo.

In case of a single cargo voyage that is relet, bunker prices should be set to zero in a calculation as the cargo will be transported by another vessel. However, in cases of voyages with multiple cargoes, where not all cargoes are relet, bunker prices should be included as the voyage will still transpire. It is also possible to relet a part of a cargo, however the relevant cargo must first be split in two: one stating quantity to be relet, the other the remainder of the total cargo. Thereafter a relet can be performed on a part of the cargo, but before a cargo has been split.

Chapter Contents:

Long Description

To relet a cargo (or parcel)

1. Go to Modules > Voyage Estimate. The Voyage Estimate window will open.
   Note: The most recent calculation will by default display. If no previous calculation has been made - the view will be empty. 
2. Open the voyage charter calculation to add a relet to. Its fields will display. 
3. Enter required prerequisites before creating a relet: a vessel, its speed and fuel consumption details and one booked cargo (cargo details is for the Charterer).
   
4. In the Cargoes field click the cargo to be relet - it will highlight. 
5. Either
   
   1. click Relet
      
      
       
   2. or go to the Cargo menu and from the drop-down select Relet.
      
      
       
6. The Relet Cargo? pop-up will open.
   
   
    
7. Click Yes. The pop-up will close and a copy of the cargo will appear as a row below the cargo it is copied from and holds the same data as the cargo it was copied from - except the cargo reference number (unique for each cargo) and the inclusion of the Relet/Tranship/Preship symbol (Reference column of the Cargo field) identifying the copied cargo as a relet. All data in the Cargo panel (Main Calculation field) is also identical, except the Charterer, Broker and Broker Commission fields that are blank. 
   Note: Created relets will ALWAYS sort under the cargo being relet.
   
   Example:
   
   
    
8. In the Cargo panel (Main Calculation field):
   
   1. Enter the vessel owner that will transport the cargo under Charterer.
   2.  Enter the broker under Broker.
   3. Change the freight rate and other terms to those agreed upon with the Owner (of the vessel that will transport the cargo). 
   4. Enter the total of all broker commissions in per cent under Comm (Commissions). 
      Note: Broker commissions should be specified if an estimate is to be made into an Actual Voyage (fixture). Usually performed after calculation completion, prior to freezing.
       
9. In the Fuel panel set all bunker prices to 0 (zero).
   Note: In case of multiple cargoes where not all cargoes are relet, enter bunker prices as the voyage will still transpire.
10. Cargo has been relet. The relet cargo will also show in the Laytime Calculations module. The freight and other items payable to the Owner will show in the Accounts Payable module.
     

1. To edit a relet:
   
   1. Go to Modules > Voyage Estimate. The Voyage Estimate window will open.
   2. Open applicable voyage calculation with the relet to be edited - it will display.
   3. In the Cargoes field, click the relet row to be edited - it will highlight and its associated fields (Cargo panel, Cargo Ports field) will display.
   4. Edit the relet row and/or the relet associated fields as applicable.
   5. The estimate will recalculate and update. All changes will auto-save.
       
2. To delete a relet:
   
   1. Go to Modules > Voyage Estimate. The Voyage Estimate window will open.
   2. Open applicable voyage calculation with the relet to be deleted- it will display.
   3. In the Cargoes field, click the relet row to be deleted - it will highlight and its associated fields (Cargo panel, Cargo Ports field) will display.
   4. Either 
      
      1. click Remove
         
         
          
      2. or go to the Port Call menu and from the drop-down select Remove.
         
         
          
   5. A pop-up will open asking to confirm removal.
   6. Click Yes. The pop-up will close and the selected row will delete.
   7. The estimate will recalculate and update. All changes will auto-save.

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