Age Premium - Old Ship Rate Discount
Rate discount for older ship on a given fixture - often 0.5-1 % per year above 15 y.
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Formula, assumptions, and limits
| Symbol | Meaning | Unit |
|---|---|---|
| Years since keel laying | years | |
| Age-related rate reduction | % |
Source: Clarksons Sale & Purchase
In short
Rate discount for older ship on a given fixture - often 0.