Rate discount for older ship on a given fixture - often 0.5-1 % per year above 15 y.
Formula
$$ D = (\text{age} - 15) \cdot 0.7% $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $Age$ | Years since keel laying | years | cert |
| $Discount$ | Age-related rate reduction | % | market practice |
Sources
- Clarksons Sale & Purchase.