ཀ ༢ ཏི ཙཙནདྷཱནང་ར, མག

SEORACE SIZE

FLOATING STORAGE COST FOR FUELOIL

INVENTORY COST @ US3/T

STORAGE COST

1. COST OF SHIP

.2.

VLCC

IR2

LRI

Ton

230,000 (30 days)

110,000 (14 days)

70,000 (10 days)

M.HK$

207

99

63

HK$/Annua

14,600,000

23,944,000. 19,719,000

42,000

20,000

13,000

INSURANCE ON OIL

3. LAY UP CCST

2,600,000 2,916,000 2,916,000

17,242,000

26,880,000 22,645,000

INTEREST ON STOCK HK$/Annum 28,980,000

13,860,000 8,820,000

HELD @ 146

TOTAL COST

OF INCREASE OF CIL COST TO BREAKEVEN

COST IN KS per T/day

Note :

HK$/Annum 46,222,000

40,740,000 31,468,000

22.3

41.2

50.0

0.551

1.015

1.232

1. VLCC costs as per Mr. Bremridge estimate. In our vis

the lay-up cost might be higher.

2.

But in general VICC

much cheaper to acquire than IR1/2.

.It is not possible to discharge a VLCC in Hi at either

HEC, CIP or anywhere else (except by use of lighters or other tankers).

LR2 (110,000 Ton) is largest size tenker that can be discharged in t

It will be noted that cost of layup (incl. skeleton crow and some bunkere) de higher then for VICC.

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