Vessel Off-Hire Revenue Loss, Charter Deduction & Recovery Tool

Time Charter Hire • Off-Hire Phases • Partial Hire • Bunker Deductions • Extra Expenses • Owner Incident Cost • LOH Insurance • Other Recoveries • Net Exposure

Vessel Off-Hire Revenue Loss, Charter Deduction & Recovery Tool

Turn an off-hire incident into a charter statement-of-account and owner recovery view. Simple mode estimates suspended hire, owner-account bunkers, incident cost, Loss of Hire recovery and net unrecovered loss. Advanced mode breaks the event into individual phases with different hire-payable percentages, bunker/expense deductions and claim status, then adds LOH waiting-period logic, other recoveries, settlement timing, continuing vessel OPEX and a full deduction/recovery ledger.

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Fast off-hire exposure screen: 10 inputs.“Hire payable %” is user-entered because off-hire depends on the actual charter wording, causation and time lost. Enter 0% for a full suspension, 100% for fully on-hire, or an agreed/assumed partial percentage for a planning scenario.

HireGross exposure & charter deduction

IncidentBunkers + owner direct cost

RecoveryLOH + other reimbursement

Off-Hire Exposure Snapshot

Daily charter hireCurrency/day under the time charter.

Total event durationHours from the beginning to end of the modeled event.

Hire payable during event% of normal hire assumed payable during the modeled period.

Owner-account bunkers consumedtonnes attributed to owner under the modeled charter treatment.

Bunker valueCurrency/tonne.

Incremental owner incident / repair costMillion. Excludes normal continuing vessel OPEX.

LOH insured daily amountCurrency/day.

LOH waiting periodDays before indemnity begins. Enter actual policy basis.

LOH indemnity limitMaximum indemnity days available for this screen.

Other expected recoveriesMillion from H&M, warranty, third party or other sources.

Charter / Owner Cash Basis

Daily charter hireCurrency/day.

Continuing vessel OPEXCurrency/day. Shown as cash burn while off-hire but not treated as incremental economic loss.

Recovery discount rateAnnual %, used only to present-value delayed recoveries.

Loss of Hire Insurance Screen

Insured daily amountCurrency/day.

Waiting / deductible periodDays. User-entered policy term.

Maximum indemnity daysDays.

LOH recovery percentage% of modeled insured amount expected to be recovered.

Expected LOH settlement delayMonths after incident, for recovery PV only.

Incident / Off-Hire Phase Ledger

Model the incident in phases. Hire deduction is calculated from duration × daily hire × (1 − hire payable %). Owner-account bunkers, additional charterer deductions and owner incident costs are entered separately. “Claim status” is informational and lets you see how much exposure is agreed, under review or disputed.

Use	Phase / event	Hours	Hire payable %	Owner bunker t	Bunker value / t	Other charter deduction M	Owner incident cost M	Claim status	LOH eligible

Other Recovery Sources

Use this register for H&M contribution, warranty/vendor claims, charterer/third-party reimbursement, General Average contribution or other expected recoveries. The tool reduces each gross claim by the entered deductible/retention, applies the expected recovery percentage, then discounts it for the entered collection delay.

Use	Recovery source	Gross claim M	Deductible / retention M	Expected recovery %	Collection delay months	Status

Claims / Evidence Checks

Charter off-hire clause reviewedListed event, causation, “time lost” wording, partial performance and rider clauses are reviewed against the actual contract. Incident start / end times evidencedLogs, notices, engine-room records, port records and communications support each modeled phase. Hire statement reconciledNormal hire, partial hire and charter deductions match the charter payment basis and actual statement of account. Bunker treatment confirmedOwner/charterer bunker responsibility, quantities and contractual valuation basis are checked separately. Extra-expense entitlement reviewedPort, tug, agency, canal, deviation and other claimed deductions are not assumed recoverable solely because hire is suspended. LOH policy trigger confirmedCovered peril, waiting period, insured daily amount, indemnity limit and exclusions are checked against the actual policy. Other insurance / warranty recoveries supportedDeductibles, contribution, subrogation and recovery probability are based on actual cover or claim evidence. Disputed deductions tracked separatelyAgreed, under-review and disputed amounts remain visible rather than being treated as one settled number.

Contract / claims boundary: this tool is a commercial claims and cash-impact model, not legal advice or a coverage determination. Whether a vessel is off-hire, the precise period “thereby lost,” partial hire entitlement, bunker responsibility, permissible set-off, extra expenses and insurance recovery all depend on the actual charterparty, policy wording, facts and governing law.

Technical basis: off-hire under a time charter is a contractual allocation of hire and does not automatically make every related expense deductible. The actual clause, qualifying event, loss of time, vessel performance, causation and rider wording control. Loss of Hire insurance is also policy-specific; waiting periods and indemnity-day limits vary. This tool therefore makes hire-payable percentages, bunker/expense deductions and recovery terms user-entered rather than hard-coding legal entitlement.

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