Common use of Calculation of Fuel Consumption Compensation (P/F) Clause in Contracts

Calculation of Fuel Consumption Compensation (P/F). If during the Performance Period the AFC is greater than the total guaranteed fuel consumption as computed according to the guarantees specified in section Error! Reference source not found. and Schedule I of this Charter, Owner shall pay to Charterer performance compensation for fuel (P/F) calculated as follows: ***** where: ABC = the weighted average cost per ton of all fuel oil (purchased by Charterer and consumed by the Vessel) during the relevant Performance Period based on GAAP. TGFC = the total guaranteed fuel consumption (in tons) for the Performance Period for all Passages, calculated by summing the GFC for all such Passages during the Performance Period. where: GFC = the guaranteed fuel consumption as specified in Schedule I of this Charter in tons (calculated by interpolation on a straight-line basis) for the AAS for all Passages in the Performance Period, as the case may be, multiplied by the number of days (or proportionate parts thereof excluding periods of Off-Hire during which Owner paid for fuel oil and boil-off gas) steamed for each Passage.

Calculation of Fuel Consumption Compensation (P/F). If during the Performance Period the AFC is greater than the total guaranteed fuel consumption as computed according to the guarantees specified in section Error! Reference source not found. 16.2 and Schedule I of this Charter, Owner shall pay to Charterer performance compensation for fuel (P/F) calculated as follows: ***** where: ABC = the weighted average cost per ton of all fuel oil (purchased by Charterer and consumed by the Vessel) during the relevant Performance Period based on GAAP. TGFC = the total guaranteed fuel consumption (in tons) for the Performance Period for all Passages, calculated by summing the GFC for all such Passages during the Performance Period. where: GFC = the guaranteed fuel consumption as specified in Schedule I of this Charter in tons (calculated by interpolation on a straight-line basis) for the AAS for all Passages in the Performance Period, as the case may be, multiplied by the number of days (or proportionate parts thereof excluding periods of Off-Hire during which Owner paid for fuel oil and boil-off gas) steamed for each Passage.