Time Charter - MPA & Daily Hire
Monthly payment-advance (MPA) calculation for a time-charter given daily hire rate - the hire billing cycle.
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Formula, assumptions, and limits
| Symbol | Meaning | Unit |
|---|---|---|
| Daily hire rate | USD/day | |
| Days in cycle | days |
Source: BIMCO NYPE 2015
In short
Monthly payment-advance (MPA) calculation for a time-charter given daily hire rate - the hire billing cycle.