Break-Even Freight Rate
Minimum USD/t that makes a voyage cash-positive: (voyage costs + OPEX × days) / B/L tonnes.
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Formula, assumptions, and limits
| Symbol | Meaning | Unit |
|---|---|---|
| Voyage direct costs | USD | |
| Daily OPEX | USD/d | |
| Round voyage days | d | |
| Cargo tonnes | t |
Source: Stopford - Maritime Economics
In short
Minimum USD/t that makes a voyage cash-positive: (voyage costs + OPEX \u00d7 days) / B/L tonnes.