Minimum USD/t that makes a voyage cash-positive: (voyage costs + OPEX × days) / B/L tonnes.
Formula
$$ R_\text{BE} = \frac{C_\text{voyage} + \text{OPEX} \cdot t}{Q} $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $C_\text{voyage}$ | Voyage direct costs | USD | DA / bunker bill |
| $OPEX$ | Daily OPEX | USD/d | OPEX calc |
| $t$ | Round voyage days | d | schedule |
| $Q$ | Cargo tonnes | t | BL |
Sources
- Stopford - Maritime Economics.