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25 Year ShipRyan D. Seelke Ocean Carriers CaseForcasted Operating Cash Flow for New Capesize Vessel (25 Year Life)Discount Rate9%Age of ShipEvent YearCalendar yearExpected Daily Hire RateThe number of Operating daysExpected Annual RevenueDaily Operating CostsAnnual Operating CostsDepreciationCapital Expenditures DepreciationTotal DepreciationNet Income (F-H-I)Discounted Net IncomeOperations Cash FlowDiscounted Operating Cash FlowTotal Op. Cash Flow-202000-112001022002$35,174,444.69132003$20,000357$7,140,000$4,000$1,460,000$1,560,000$1,560,000$4,120,000$3,181,396$5,680,000$4,386,002.17242004$20,200357$7,211,400$4,160$1,518,400$1,560,000$1,560,000$4,133,000$2,927,921$5,693,000$4,033,064.73352005$20,400357$7,282,800$4,326$1,579,136$1,560,000$1,560,000$4,143,664$2,693,097$5,703,664$3,706,990.25462006$18,714357$6,680,898$4,499$1,642,301$1,560,000$1,560,000$3,478,597$2,074,173$5,038,597$3,004,350.50572007$17,283357$6,170,031$4,679$1,707,993$1,620,000$60,000.00$1,680,000$2,782,038$1,521,870$4,462,038$2,440,887.32682008$17,481353$6,170,793$4,867$1,776,313$1,620,000$60,000.00$1,680,000$2,714,480$1,362,306$4,394,480$2,205,441.21792009$17,682353$6,241,746$5,061$1,847,366$1,620,000$60,000.00$1,680,000$2,714,380$1,249,776$4,394,380$2,023,294.738102010$17,886353$6,313,758$5,264$1,921,260$1,620,000$60,000.00$1,680,000$2,712,498$1,145,788$4,392,498$1,855,438.469112011$18,092353$6,386,476$5,474$1,998,111$1,620,000$60,000.00$1,680,000$2,708,365$1,049,580$4,388,365$1,700,635.6710122012$17,428353$6,152,084$5,693$2,078,035$1,630,000$70,000.00$1,700,000$2,374,049$844,057$4,074,049$1,448,465.8011132013$17,628349$6,152,172$5,921$2,161,157$1,630,000$70,000.00$1,700,000$2,291,015$747,280$3,991,015$1,301,783.9812142014$17,831349$6,223,019$6,158$2,247,603$1,630,000$70,000.00$1,700,000$2,275,416$680,910$3,975,416$1,189,629.2113152015$18,036349$6,294,564$6,404$2,337,507$1,630,000$70,000.00$1,700,000$2,257,057$619,648$3,957,057$1,086,362.6714162016$18,243349$6,366,807$6,660$2,431,007$1,630,000$70,000.00$1,700,000$2,235,800$563,130$3,935,800$991,308.9315172017$14,762349$5,151,938$6,927$2,528,248$1,710,000$150,000.00$1,860,000$763,690$176,468$2,623,690$606,264.4716182018$14,932349$5,211,268$7,204$2,629,378$1,710,000$150,000.00$1,860,000$721,890$153,036$2,581,890$547,344.6217192019$15,104349$5,271,296$7,492$2,734,553$1,710,000$150,000.00$1,860,000$676,743$131,620$2,536,743$493,370.3818202020$15,278349$5,332,022$7,792$2,843,935$1,710,000$150,000.00$1,860,000$628,087$112,070$2,488,087$443,951.6319212021$15,454349$5,393,446$8,103$2,957,692$1,710,000$150,000.00$1,860,000$575,754$94,250$2,435,754$398,728.2020222022$14,654349$5,114,246$8,427$3,076,000$1,730,000$170,000.00$1,900,000$138,246$20,762$2,038,246$306,107.3021232023$14,823349$5,173,227$8,764$3,199,040$1,730,000$170,000.00$1,900,000$74,187$10,222$1,974,187$272,006.2522242024$14,993349$5,232,557$9,115$3,327,001$1,730,000$170,000.00$1,900,000$5,556$702$1,905,556$240,871.6523252025$15,166349$5,292,934$9,480$3,460,081$1,730,000$170,000.00$1,900,000-$67,147-$7,787$1,832,853$212,551.9424262026$15,341349$5,354,009$9,859$3,598,485$1,730,000$170,000.00$1,900,000-$144,476-$15,371$1,755,524$186,774.6425272027$13,448349$4,693,352$10,253$3,742,424$1,560,000$0.00$1,560,000-$609,072-$59,450$950,928$92,817.99Forcasted Investment Cash Flow for Capesize Carrier (25 Year Life)Age of ShipEvent YearCalendar YearPrice of ShipPV OutflowsCapital ExpendituresWorking CapitalChange in Working CapitalWCInvestment Cash FlowDiscounted Investment Cash FlowTotal Inv. Cash Flow-202000-$3,900,000-$3,900,000-$3,900,000-$3,900,000-$34,805,887-112001-$3,900,000-$3,577,982-$3,900,000-$3,577,982022002-$31,200,000-$26,260,416$500,000$500,000-$500,000-$31,700,000-$26,681,256132003$0$0$515,000$15,000-$15,000-$15,000-$11,583242004$0$0$530,450$15,450-$15,450-$15,450-$10,945352005$0$0$546,364$15,914-$15,914-$15,914-$10,343462006$0$0$562,754$16,391-$16,391-$16,391-$9,773572007$0$0-$300,000$579,637$16,883-$16,883-$316,883-$173,346682008$0$0$597,026$17,389-$17,389-$17,389-$8,727792009$0$0$614,937$17,911-$17,911-$17,911-$8,2478102010$0$0$633,385$18,448-$18,448-$18,448-$7,7939112011$0$0$652,387$19,002-$19,002-$19,002-$7,36410122012$0$0-$350,000$671,958$19,572-$19,572-$369,572-$131,39611132013$0$0$692,117$20,159-$20,159-$20,159-$6,57512142014$0$0$712,880$20,764-$20,764-$20,764-$6,21313152015$0$0$734,267$21,386-$21,386-$21,386-$5,87114162016$0$0$756,295$22,028-$22,028-$22,028-$5,54815172017$0$0-$750,000$778,984$22,689-$22,689-$772,689-$178,54816182018$0$0$802,353$23,370-$23,370-$23,370-$4,95417192019$0$0$826,424$24,071-$24,071-$24,071-$4,68118202020$0$0$851,217$24,793-$24,793-$24,793-$4,42419212021$0$0$876,753$25,536-$25,536-$25,536-$4,18020222022$0$0-$850,000$903,056$26,303-$26,303-$876,303-$131,60521232023$0$0$930,147$27,092-$27,092-$27,092-$3,73322242024$0$0$958,052$27,904-$27,904-$27,904-$3,52723252025$0$0$986,793$28,742-$28,742-$28,742-$3,33324262026$0$0$1,016,397$29,604-$29,604-$29,604-$3,15025272027$0$0$0-$1,016,397$1,016,397$1,016,397$99,208Total Cash Flow for a 25 Year Capesize CarrierOperating Cash Flow + Investment Cash FlowOp. Cash Flow+Inv. Cash Flow=Net Cash Flow$35,174,444.69+(34,805,887.40)=$368,557
FinalFinal Results$39,000,000 Discounted 27 Years15 Year Option (Net Cash Flow)25 Year Option (Net Cash Flow)
15 Year ShipForcasted Operating Cash Flow for a Capesize Carrier (15 Year Life)Discount Rate9%Disposal Value$5,000,000PV of Disposal$1,155,366Age of ShipEvent YearCalendar yearExpected Daily Hire RateThe number of Operating daysExpected Annual RevenueDaily Operating CostsAnnual Operating CostsDepreciationDepreciatoin of Capital InvestmentTotal DepreciationNet Income (F-H-K)Discounted Net IncomeOperations Cash FlowDiscounted Operating Cash FlowTotal Op. Cash Flow-202000-112001022002$31,979,920132003$20,000357$7,140,000$4,000$1,460,000$1,560,000$0.00$1,560,000$4,120,000$3,181,396$5,680,000$4,386,002242004$20,200357$7,211,400$4,160$1,518,400$1,560,000$0.00$1,560,000$4,133,000$2,927,921$5,693,000$4,033,065352005$20,400357$7,282,800$4,326$1,579,136$1,560,000$0.00$1,560,000$4,143,664$2,693,097$5,703,664$3,706,990462006$18,714357$6,680,898$4,499$1,642,301$1,560,000$0.00$1,560,000$3,478,597$2,074,173$5,038,597$3,004,351572007$17,283357$6,170,031$4,679$1,707,993$1,620,000$60,000.00$1,680,000$2,782,038$1,521,870$4,462,038$2,440,887682008$17,481353$6,170,793$4,867$1,776,313$1,620,000$60,000.00$1,680,000$2,714,480$1,362,306$4,394,480$2,205,441792009$17,682353$6,241,746$5,061$1,847,366$1,620,000$60,000.00$1,680,000$2,714,380$1,249,776$4,394,380$2,023,2958102010$17,886353$6,313,758$5,264$1,921,260$1,620,000$60,000.00$1,680,000$2,712,498$1,145,788$4,392,498$1,855,4389112011$18,092353$6,386,476$5,474$1,998,111$1,620,000$60,000.00$1,680,000$2,708,365$1,049,580$4,388,365$1,700,63610122012$17,428353$6,152,084$5,693$2,078,035$1,630,000$70,000.00$1,700,000$2,374,049$844,057$4,074,049$1,448,46611132013$17,628349$6,152,172$5,921$2,161,157$1,630,000$70,000.00$1,700,000$2,291,015$747,280$3,991,015$1,301,78412142014$17,831349$6,223,019$6,158$2,247,603$1,630,000$70,000.00$1,700,000$2,275,416$680,910$3,975,416$1,189,62913152015$18,036349$6,294,564$6,404$2,337,507$1,630,000$70,000.00$1,700,000$2,257,057$619,648$3,957,057$1,086,36314162016$18,243349$6,366,807$6,660$2,431,007$1,630,000$70,000.00$1,700,000$2,235,800$563,130$3,935,800$991,30915172017$14,762349$5,151,938$6,927$2,528,248$1,710,000$0.00$1,710,000$913,690$211,129$2,623,690$606,264TotalsForcasted Investment Cash Flow for Capesize Carrier (15 Year Life)Age of ShipEvent YearCalendar YearPrice of ShipPV Cash OutflowsCapital ExpendituresWorking CapitalChange in Working CapitalW.C.Ship Scrap PriceDiscounted Ship Scrap PriceInvestment Cash FlowDiscounted Investment Cash FlowTotal Inv. Cash Flow-202000-$3,900,000-$3,900,000-$3,900,000-$3,900,000-$33,232,836-112001-$3,900,000-$3,577,982-$3,900,000-$3,577,982022002-$31,200,000-$26,260,416500,000$500,000-$500,000-$31,700,000-$26,681,256132003$0$0515,000$15,000-$15,000-$15,000-$11,583242004$0$0530,450$15,450-$15,450-$15,450-$10,945352005$0$0546,364$15,914-$15,914-$15,914-$10,343462006$0$0562,754$16,391-$16,391-$16,391-$9,773572007$0$0-$300,000579,637$16,883-$16,883-$316,883-$173,346682008$0$0597,026$17,389-$17,389-$17,389-$8,727792009$0$0614,937$17,911-$17,911-$17,911-$8,2478102010$0$0633,385$18,448-$18,448-$18,448-$7,7939112011$0$0652,387$19,002-$19,002-$19,002-$7,36410122012$0$0-$350,000671,958$19,572-$19,572-$369,572-$131,39611132013$0$0692,117$20,159-$20,159-$20,159-$6,57512142014$0$0712,880$20,764-$20,764-$20,764-$6,21313152015$0$0734,267$21,386-$21,386-$21,386-$5,87114162016$0$0756,295$22,028-$22,028-$22,028-$5,54815172017$0$00-$756,295$756,295$5,000,000$1,155,366$756,295$1,330,125-$33,738,397Total Cash Flow for a 15 year Capesize CarrierOperating Cash Flow + Investment Cash FlowOp. Cash Flow+Inv. Cash Flow=Net Cash Flow$31,979,920.10+(33,232,835.62)=-$1,252,916