Add option for Index Linked Hire Rate to a report

1 votes

We have a TCO contract using index linked hire. We need a report to pull the daily hire rate from TCO contract Pricing tab <Hire Rate> table name <TCOContract.TimeCharterHires.HireRate>. However, daily hire always shows as 0 in the report. We are told from your support member that IMOS does not keep the index-linked hire and it's only calculated when sending invoice. We would like to suggest have an option to pull Index linked hire rate to a report.

Not planned contracts reporting Suggested by: Zheng Weiwei (25 Feb, '21) • Upvoted: 25 Feb, '21 • Comments: 1

Comments: 1

01 Mar, '21
jluby@veson.com Admin
Hi Zheng WeiWei,

The explanation that was provided by the Support team was correct in that we do not capture this in reports because we do not store the value of the forward rates in the database, we only store it when an invoice has been created. Index-linked periods are often not aligned to single pricing periods either and therefore it would not be one hire rate for an index-linked hire period. The complexities of this can be seen in the Show Rate Breakdown report in the Hire Payment screen which displays all the average prices that are used to calculate the rate for a given pricing period.

Because of the complexities around this and the variable nature of these prices out into the future this is not something that we would look to pursue. If you are looking for the historical rates that have been captured on a contract then this information can be found in the VoyagePnls and VoyagePnlDetails data set for the voyages associated with a specific TC Contract.

Thanks,
Josh