Break-Even Freight Rate

Minimum USD/t that makes a voyage cash-positive: (voyage costs + OPEX × days) / B/L tonnes.

CharteringOPEX

Voyage costsUSDDaily OPEXUSD/dayRound-voyage daysdB/L quantityt

Total voyage cost: 1,288,000USD

Break-even rate: 9.91USD / t

Changing the inputs requires JavaScript. The calculator above shows its default inputs and result. The formula, symbols, and regulatory sources are shown in the Formula section below.

Formula, assumptions, and limits

R_\text{BE} = \frac{C_\text{voyage} + \text{OPEX} \cdot t}{Q}

Symbol	Meaning	Unit
$C_\text{voyage}$	Voyage direct costs	USD
$OPEX$	Daily OPEX	USD/d
$t$	Round voyage days	d
$Q$	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.

Learn the theory Baltic Dry Index and Freight Indices