The document compares transporting cargo from Gibraltar to Shanghai via the ports of New Orleans or Morehead. Transporting via New Orleans would take 65.12 days at a cost of $3,024,938, earning a profit of $1,325,185.22. Transporting via Morehead would take 62.53 days at a cost of $2,860,039, earning a profit of $1,295,304.29. While transporting via New Orleans earns a higher profit, it takes 2.59 more days and has $164,899 higher costs than transporting via Morehead.

1. Comparison: Morehead vs. NOLA
(Both Locations)
 Vessel Name: Guoyuan 5 – 65,298 ton dwt, built1985
 Loading: 55,000 tons cargo,10,000 mt/day, 8.56 days sshex (Saturday, Sunday & Holidays excluded)
 Discharging: 55,000 tons cargo, 10,000 mt/day, 8.56 days sshex
 Sea Margin: / Wdays from Gibraltar to New Orleans or Morehead : 5%
/ Wdays from New Orleans or Morehead to Shanghai : 5%
(Both Locations)
Ballast Laden Load Port Discharge Port
IFO cons 31 mt/d 31 mt/d 3 mt/d 3 mt/d
MDO cons 2 mt/d 2 mt/d 2 mt/d 2 mt/d
Speed 13.5 nm/hr 13 nm/d
Comparison Analysis
Summary New
Orleans
Morehead New
Orleans
Morehead
NTC $20,000
USD/d
$20,000 USD/d - -
Cargo $55.00
USD/mt
$52.00 USD/mt $3.00 more/mt $3.00 less/mt
Total Duration 65.12 days 62.53 days 2.59 more days 2.59 lessdays
Total Net Freight $2,911,562.50 $2,752,750 $158.812.50 more $158,812.50 less
NTCE $20,348.94/d $20,715.55/d $366.61/d less $366.61/d more
P&L $1,325,185.22 $1,295,304.29 $29,880.93 more $29,880.93 less
Time Breakdown
Sequence
New
Orleans
Morehead New Orleans Morehead
Gibraltar to Port (ballast) 14.45 d 11.04 d 3.41 more days 3.41 less days
at Port (loading) 8.56 d 8.56 d - -
Port to Shanghai (laden) 33.40 d 34.21 d .81 less days .81 more days
at Shanghai (discharging) 8.56 d 8.56 d - -
Sum 64.96 d 62.36 d 2.6 more days 2.6 less days
Extra Time

2. Comparison Analysis
Fixed Costs
Sequence
New Orleans Morehead New
Orleans
Morehead
New Orleans (Loading) $150,000 $80,000 $70,000 more $70,000 less
Shanghai (discharging) $80,000 $80,000 - -
Sum $230,000 $160,000 - -
Misc Cost
misc cost $50,000 $50,000 - -
canal cost $150,000 $150,000 - -
Sum $200,000 $200,000 - -
Total $430,000 $360,000 $70,000 more $70,000 less
Bunkers New Orleans Morehead New
Orleans
Morehead
IFO: (1,537.37t @ $670/t)
$1,030,038.52
(1,456.93t @ $670/t)
$976,141.18
$53,897.34 more $53,897.34 less
MFO: (130.25t @ $970/t)
$126,338.76
(125.06t @ $970/t)
$121,304.53
$5,034.23 more $5,034.23 less
Total $1,156,377.28 $1,097,445.71 $58,931.57
more
$58,931.57
less
In port 0.08 d 0.08 d - -
At see 0.08 d 0.08 d - -
Total 65.12days 62.53 days 2.59 more day 2.59 less days

3. Duration New Orleans Morehead New
Orleans
Morehead
Ballast 14.45 days
22.18%
11.04 days
17.66%
3.41 more days
4.52% more
3.41 less days
4.52% less
Laden 33.40 days
51.28%
34.21 days
54.71%
.81 less days
3.43% more
.81 more days
3.43% less
In port/canal 17.11 days
26.28%
17.11 days
27.37%
-
1.09% less
-
1.09% more
Extra 0.17 days
0.26%
0.17 days
0.27%
-
1% less
-
1% more
Total 65.12 days
100%
62.53 days
100%
2.59 more days
-
2.59 less days
-
Costs New Orleans Morehead New
Orleans
Morehead
Bunker $1,156,377
38.23%
$1,097,446
38.37%
$58,931 more
0.14% less
$58,931 less
0.14% more
Com Cgo $113,438
3.75%
$107,250
3.75%
$6,188 more
-
$6,188 less
-
In Port $230,000
7.60 %
$160,000
5.59%
$70,000 more
2.01% more
$70,000 less
2.01% less
Canal $150,000
4.96%
$150,000
5.24%
-
.28% less
-
.28% more
Misc $50,000
1.65%
$50,000
1.75%
-
.1% less
-
.1% more
Vessel $1,325,123
43.81%
$1,295,343
45.29%
$29,780 more
1.48% less
$29,780 less
1.48% more
Total $3,024,938
100%
$2,860,039
100%
$164,899 more
-
$164,899
less
-

4. Calculation New Orleans Morehead New
Orleans
Morehead
Total Net Freight $2,911,562.50 $2,752,750 $158,812.50
more
$158,812.50
less
Total Cost $1,586,377.28 $1,457,445.71 $128,931.57
more
$128,931.57
less
Net Time Charter
Equivalent
NTCE $20,348.94/d $20,715.55/d $366.61/d
less
$366.61/d
more
P&L $1,325,185.22 $1,295,304.29 $29,880.93
more
$29,880.93
less