Philippine Merchant Marine Academy

Graduate School, Manila

QUIZ 2

CAPT. ARMANDO B. MORALES, MSBM

JHEFFERSON E. JULIAN

13 APRIL 2024
 Philippine Merchant Marine Academy
Graduate School, Manila

PRO FORMA BUDGET ESTIMATE (Estimate 1million)

Deadweight 45,516 Bulk Carriers, Class NK
Flag: Panama
Worldwide Trading

Crew cost 32%

Crew Salaries and Wages: $180,000.00
Travel: $40,000.00
Manning and Support: $60,000.00
Medical Insurance: $20,000.00
Victualing: $20,000.00
Total: $320,000.00

Stores and consumables including lubricants 11%

General Store: $50,000.00
Cabin stores including drinking water: $30,000.00
Lubricants: $30,000.00
Total: $110,000.00

Maintenance and repairs 16%

Maintenance: $80,000.00
Spares: $50,000.00
Navigation and communication service: $30,000.00
Total: $160,000.00

Insurance 30%
Hull and Machinery including War Risk: $150,000.00
P & I: $150,00.00
Total: $300.00

General Cost and Administration 11%

Overhead: $40,000.00
Sundries: $20,000.00
Communication expense: $35,000.00
Owner’s Port Cost: $15,000.00
Total: $110,000.00

Manning Fee $12,000 x 12: $ 144,000.00

Annual Dry docking Allowance: $175,000.00

Grand Total (Per Annum): $1,319,000.00

Operating cost per day: $3,613.70