Brokerage commission on sale & purchase / charter - typically 1 % for S&P, 1.25 % for charter, split among brokers.
Formula
$$ C = V \cdot r $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $V$ | Deal value | USD | S&P agreement |
| $r$ | Commission rate | % | market practice |
Sources
- ICS Shipbroker Institute Code.