Common use of Basis of Calculation for Fuel Consumption Clause in Contracts

Basis of Calculation for Fuel Consumption. (a) For each Voyage the guaranteed fuel consumption shall be calculated by multiplying the maximum daily consumption as determined pursuant to Article 3 by the duration of the Voyage calculated on the assumption that the Vessel steamed at the Guaranteed Speed. In calculating both the guaranteed fuel consumption and the actual fuel consumption Restricted Periods pursuant to Article 2(e) shall be excluded. Subject as hereinafter provided, there shall be a saving of fuel for that Voyage equal to the amount by which the guaranteed fuel consumption exceeds the actual fuel consumption and an excess consumption for that Voyage equal to the amount by which the actual fuel consumption exceeds the guaranteed fuel consumption. Such saving or excess shall be adjusted to take into account the Restricted Periods by dividing such saving or excess by the number of miles over which the fuel consumption has been calculated and multiplying by the same number of miles plus the miles steamed during the Restricted Periods in order to establish the total saving or excess in fuel consumption for the Voyage. (b) If on any Voyage the Vessel has to steam faster than the Service Speed or slower than the Minimum Speed pursuant to Charterers’ orders, or in order to achieve the SAT (provided this is not attributable to any failure of performance by the Vessel), the Vessel shall be deemed to have complied with the fuel consumption guarantees for the duration of such Voyage. (c) Owners’ warranties relating to speed and fuel consumption shall not apply to the period between the end of one Voyage and the start of the next Voyage as described in Article 4. (d) As soon as practicable after receipt of the necessary voyage returns, Charterers shall furnish Owners with their calculations determining fuel consumption on each Voyage. (e) At the conclusion of the charter period or annually (whichever occurs first) (the “Performance Period”), the quantities of excess fuel used and the quantities of fuel saved on all voyages in the Performance Period shall each be added up. The total of fuel saved for the Performance Period shall then be subtracted from the total of excess fuel used for the Performance Period and if the balance is positive Charterers shall deduct from hire due under Clause 11 an amount calculated by multiplying the net excess quantity of fuel consumed for the Performance Period by the weighted average price paid by the Charterers for fuel oil for the Vessel over the Performance Period in question. If the balance is zero or negative, Owners shall be deemed to have complied with their Fuel consumption obligations for the Performance Period.

Basis of Calculation for Fuel Consumption. (a) For each Voyage the guaranteed fuel Fuel consumption shall be calculated by multiplying the maximum daily consumption as determined pursuant to Article 3 by the duration of the Voyage calculated on the assumption that the Vessel steamed at the Guaranteed Speed. In calculating both the guaranteed fuel Fuel consumption and the actual fuel Fuel consumption Restricted Periods pursuant to Article 2(e) shall be excluded. Subject as hereinafter provided, there shall be a saving of fuel Fuel for that Voyage equal to the amount by which the guaranteed fuel Fuel consumption exceeds the actual fuel Fuel consumption and an excess consumption for that Voyage equal to the amount by which the actual fuel Fuel consumption exceeds the guaranteed fuel Fuel consumption. Such saving or excess shall be adjusted to take into account the Restricted Periods by dividing such saving or excess by the number of miles over which the fuel Fuel consumption has been calculated and multiplying by the same number of miles plus the miles steamed during the Restricted Periods in order to establish the total saving or excess in fuel Fuel consumption for the Voyage. (b) If on any Voyage the Vessel has to steam faster than the Service Speed or slower than the Minimum Speed pursuant to Charterers’ Charterer’s orders, or in order to achieve the SAT Scheduled Arrival Time (provided this is not attributable to any failure of performance by the Vessel), the Vessel shall be deemed to have complied with the fuel Fuel consumption guarantees for the duration of such Voyage. (c) Owners’ Owner’s warranties relating to speed and fuel Fuel consumption shall not apply to the period between the end of one Voyage and the start of the next Voyage as described in Article 4. (d) As soon as practicable after receipt of the necessary voyage returns, Charterers Charterer shall furnish Owners Owner with their calculations determining fuel Fuel consumption on each Voyage. (e) At the conclusion of the charter period Charter Period or annually (whichever occurs first) (the “Performance Period”), the quantities of excess fuel Fuel used and the quantities of fuel Fuel saved on all voyages in the Performance Period shall each be added up. The total of fuel Fuel saved for the Performance Period shall then be subtracted from the total of excess fuel Fuel used for the Performance Period and if the balance is positive Charterers Charterer shall deduct from hire Hire due under Clause 11 13 an amount calculated by multiplying the net excess quantity of fuel Fuel consumed for the Performance Period by the weighted average price paid by the Charterers Charterer for fuel oil Fuel Oil for the Vessel over the Performance Period in question. If the balance is zero or negative, Owners Owner shall be deemed to have complied with their its Fuel consumption obligations for the Performance Period.