The journey of a vessel doesn't end when it's redelivered to its owner. In fact, a whole new set of challenges begins as the owner sets out to find business that suits the vessel and meets their requirements. One of the most formidable tasks is locating the perfect cargo. To navigate these waters, shipowners weigh a myriad of factors that can make or break a deal, and advanced tools like AI-powered voyage estimators, market analysers, voyage risk analysers and smart laytime calculators are transforming the process.
"Finding the right cargo for an open vessel is one of the most formidable tasks in shipping, a dozen variables pulling in different directions at once."
Factors considered by shipowners
Every one of these considerations plays a role in the success of a deal, and they rarely point the same way:
- Distance of cargo: The proximity of cargo to the vessel's redelivery point drives logistics and operational efficiency.
- Properties of the cargo: The nature of the cargo matters, different vessels suit different cargoes, considering perishability, hazard or special handling.
- Value of the cargo: The financial side is crucial; owners assess value to weigh potential profit against risk.
- Cargo quantity & stowage factor: Understanding volume and stowage is essential for optimal loading and discharge.
- Draft restrictions at the port: Water depth affects draft; the vessel's draft must align with load and discharge port limits.
- Business availability at discharge port: Owners assess whether onward business exists at the discharge port or if the vessel must relocate.
- Ease of business with the charterer: Timely payments, minimal claims and quick demurrage clearance make for a smooth relationship.
- Ballast distance to load port: The distance the vessel sails in ballast before loading is key to planning and cost.
- Passage through canals: Canal transit adds financial and logistical considerations that must be factored in.
- Piracy risk & insurance coverage: Navigating piracy-prone areas requires appropriate cover and a clear view of the associated costs.
- Cost of hiring armed guards: Security costs matter, especially when transiting higher-risk regions.
- Requirement of cranes & grabs: Some cargo needs specialised gear; its availability at both ports is vital.
- Weather factors: Monsoons, typhoon seasons and sea conditions bear on the safety of both vessel and cargo.
