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22 Jan 2021, 03:00
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Every charter operator of a TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner. (Assume a month has 30 days.): Yes
The median daily rate of a BC vessel is greater than the median daily rate of a TC vessel.: Yes
There is a positive correlation between the duration of the charter contract and the daily operating expenses of the vessel.: No
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
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69% (03:31) correct
31%
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IR Butler Competition 2021 - Participate and Win!
Question # 47, Date : 22-Jan-2021
This question is a part of IR Butler competition 2021. Click here for Details
Question # 47, Date : 22-Jan-2021
This question is a part of IR Butler competition 2021. Click here for Details
Vessel Characteristics | Charter Details | |||||
| Name | Year built | DWT (metric tons) | Daily OpEx (€) | Type | Contract duration (years) | Daily rate (€) |
|---|---|---|---|---|---|---|
| Agamemnon II | 2008 | 51,238 | 6,500 | TC | 3 | 22,000 |
| Agisilaos | 2006 | 36,760 | 5,500 | TC | 1 | 11,850 |
| Aiolos | 2007 | 36,725 | 250 | BC | 8 | 15,000 |
| Akeraios | 2007 | 47,781 | 5,500 | TC | 1 | 12,500 |
| Aktoras | 2006 | 36,759 | 250 | BC | 8 | 15,000 |
| Alexandros II | 2008 | 51,258 | 250 | BC | 10 | 13,000 |
| Alkiviadis | 2006 | 36,721 | 7,000 | TC | 2 | 12,838 |
| Amore Mio II | 2001 | 159,982 | 8,500 | TC | 1 | 25,000 |
| Anemos I | 2007 | 47,782 | 5,500 | TC | 3 | 14,259 |
| Apostolos | 2007 | 47,782 | 5,500 | TC | 2 | 14,000 |
| Arionas | 2006 | 36,725 | 5,500 | TC | 1 | 11,850 |
| Aris II | 2008 | 51,218 | 250 | BC | 10 | 13,000 |
| Aristotelis II | 2008 | 51,226 | 250 | BC | 10 | 13,000 |
| Assos | 2006 | 47,872 | 500 | BC | 5 | 16,825 |
| Atlantas | 2006 | 36,760 | 250 | BC | 8 | 15,000 |
| Atrotos | 2007 | 47,786 | 500 | BC | 5 | 16,825 |
| Avax | 2007 | 47,834 | 5,500 | TC | 1 | 12,500 |
| Axios | 2007 | 47,872 | 5,500 | TC | 1 | 12,591 |
| Ayrton II | 2009 | 51,260 | 6,500 | TC | 2 | 22,000 |
The table contains data on 19 sea-going vessels, including name, year built, deadweight tonnage (DWT, the weight a ship can safely carry), and daily operating expenses (Daily OpEx, euros). The table also indicates several details of the boat’s charter contract, including type (TC or BC), duration of contract (in years), and the daily rate (the per-day rental payment from the charter operator to the owner of the vessel, in euros).
For each of the following statements, select Yes if the statement can be shown to be true with the information provided. Otherwise, select No.
Attachment:
11.jpg [ 213.36 KiB | Viewed 6626 times ]
| Yes | No | |
| Every charter operator of a TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner. (Assume a month has 30 days.) | ||
| The median daily rate of a BC vessel is greater than the median daily rate of a TC vessel. | ||
| There is a positive correlation between the duration of the charter contract and the daily operating expenses of the vessel. |
ShowHide Answer
Official Answer
Every charter operator of a TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner. (Assume a month has 30 days.): Yes
The median daily rate of a BC vessel is greater than the median daily rate of a TC vessel.: Yes
There is a positive correlation between the duration of the charter contract and the daily operating expenses of the vessel.: No
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23 Jan 2021, 05:27
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For each of the following statements, select Yes if the statement can be shown to be true with the information provided. Otherwise, select No.
Every charter operator of a TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner. (Assume a month has 30 days.).....Yes
If charter is to pay more than €600,000 a month in rental fees, the average daily rental fees it needs to pay should be €20,000. There are 6 vessels capable of transporting more thane 50000 metric tons of goods, of which 3 are TC type and 3 are BC type.
Daily rental fee of TC Type vessel:
Agamemnon II = 22000
Amore Mio II = 25000
Ayrton II = 22000
Daily rental fee of BC Type vessel:
Alexandoris II = 13000
Aris II = 13000
Aristotelis II = 13000
So, all the TC type vessels TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner.
The median daily rate of a BC vessel is greater than the median daily rate of a TC vessel.....Yes
There are 11 TC type vessels and 8 BC type vessels.
Daily rate of TC Type vessel:
11850, 11850, 12500, 12500, 12591, 12838, 14000, 14259, 22000, 22000, 25000
Median = 12838
Daily rate of BC Type vessel:
13000, 13000, 13000, 15000, 15000, 15000, 16825, 16825
Median = \(\frac{15000+15000}{2}\) = 15000
There is a positive correlation between the duration of the charter contract and the daily operating expenses of the vessel....No
We can see that there are 3 vessels each (total 6) with a duration of contract 8 & 10 years. The daily operating expenses of these vessels is only €250. There are other vessels with much less duration of contract and higher daily operating expenses.
The correct sequence is Yes, Yes, No
Every charter operator of a TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner. (Assume a month has 30 days.).....Yes
If charter is to pay more than €600,000 a month in rental fees, the average daily rental fees it needs to pay should be €20,000. There are 6 vessels capable of transporting more thane 50000 metric tons of goods, of which 3 are TC type and 3 are BC type.
Daily rental fee of TC Type vessel:
Agamemnon II = 22000
Amore Mio II = 25000
Ayrton II = 22000
Daily rental fee of BC Type vessel:
Alexandoris II = 13000
Aris II = 13000
Aristotelis II = 13000
So, all the TC type vessels TC vessel capable of transporting more than 50,000 metric tons of goods pays more than €600,000 a month in rental fees to the owner.
The median daily rate of a BC vessel is greater than the median daily rate of a TC vessel.....Yes
There are 11 TC type vessels and 8 BC type vessels.
Daily rate of TC Type vessel:
11850, 11850, 12500, 12500, 12591, 12838, 14000, 14259, 22000, 22000, 25000
Median = 12838
Daily rate of BC Type vessel:
13000, 13000, 13000, 15000, 15000, 15000, 16825, 16825
Median = \(\frac{15000+15000}{2}\) = 15000
There is a positive correlation between the duration of the charter contract and the daily operating expenses of the vessel....No
We can see that there are 3 vessels each (total 6) with a duration of contract 8 & 10 years. The daily operating expenses of these vessels is only €250. There are other vessels with much less duration of contract and higher daily operating expenses.
The correct sequence is Yes, Yes, No
19 May 2024, 05:13
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