Monthly payment-advance (MPA) calculation for a time-charter given daily hire rate - the hire billing cycle.
Formula
$$ MPA = H_d \cdot d $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $H_d$ | Daily hire rate | USD/day | CP fixture |
| $d$ | Days in cycle | days | CP clause |
Sources
- BIMCO NYPE 2015.