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Establishment of a shipping company. Business ideas. Company products and services

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Course project in the discipline "Management"

"Business plan for a shipping company"

Executive Summary

General description of the company

Company products and services

Marketing - plan

Organization and management

Staff

Financial plan

Initial data

Economic performance of courts for 1 year of the project

Economic performance of courts for the 2nd year of the project

Economic performance of courts for the 3rd year of the project

Economic performance of courts for the 4th year of the project

Economic performance of courts for the 5th year of the project

Calculation of the payback period of investments

Calculation of the profitability index

Net present value calculation

Internal rate of return

Loan repayment scheme

Financial operations

Executive Summary

Based on market research by FSU's marketing department, it has been concluded that there are excellent prospects for HANDYMAX and PANAMAX type vessels in the next few years on ore shipping lines between Australian and Japanese ports. The management of the company decided to establish a subsidiary Anchor Marine ltd, which will be entrusted with the implementation of the opportunities that have opened up. On the initial stage FSU is investing $25,000,000 in the project.

It is planned that Anchor Marine ltd will provide cargo flows of coal in the amount of 800 to 1300 thousand tons per year. The company will be able to annually carry out a sufficient volume of transportation based on voyage charters. Options are being considered for leasing part of the fleet on a time charter basis, which can also bring good profits.

Anchor Marine ltd is a subsidiary of FSU and can rightfully inherit the reputation of a parent company that has been offering its services to the world market for over 50 years and is one of the leading shipping companies in the world. The company's management is confident that using the experience of FSU and having 25,000,000 US dollars of initial capital, as well as having received the necessary loan, the company will be able to organize the purchase of the required tonnage and promptly put it on the line.

As a result of the development of the business plan, the following economic indicators of the project were obtained:

From the analysis of the business plan, it was concluded that in the next 5 years the company will be able to provide all potential cargo flows, having established itself as a conscientious carrier and reliable partner.

Company goal: ensuring the transportation of coal in large quantities on a certain line with highest quality, as well as the development effective business plan and how to repay a bank loan.

General description of the company

Currently, there is a high demand for coal transportation in the market, so the company's management " Anchor Marine ltd”is confident that, using the experience of FSU and having $ 25 million in initial capital, having received the necessary loan, the company will purchase the necessary vessels and equipment, and create the appropriate working capital.

Company " Anchor Marine ltd» registered at:

48 Bedford Square

Phone: +44 207 908 4550

Fax: +44 207 637 4057

Analytical department of the company Anchor Marine ltd» conducted an analysis of the market situation, which showed that in the next 5 years there are good prospects for the operation of bulk carriers with a deadweight of 60 thousand tons. (PANAMAX) and a deadweight of 40 thousand tons. (HANDYMAX).

Company products and services

The main activity of the company " Anchor Marine ltd» it is planned to transport coal.

Marketing - plan

Due to the fact that over the past year there has been a trend towards increasing the volume of coal purchases, it can be said that the services of bulk bulk carriers will be in demand, since the arrival of new ships in the world tonnage will not be so significant to satisfy all transportation needs. Therefore, the company Anchor Marine ltd» relies on ten-year ships, as they have the shortest payback period and will allow you to get the most profit.

In order to take one of the leading positions in the maritime transportation market, the company will deliver cargo to the most short time and safe, application modern technologies and management methods will strengthen the company's position in the field of shipping.

Organization and management

Company Management Scheme " Anchor Marine ltd" as follows.

The organization is built in such a way as to ensure maximum interaction between the subject and the object of management. The goals of management are: obtaining maximum profit; increasing the competitiveness of the company.

Staff

The staff consists of experienced professionals who have proven themselves in other companies, as well as promising young professionals.

Employees are trained in advanced training centers, as well as internships.

Employees are hired from probationary period, only those who have proven their competence remain in the company. The basis for promotion is productive work in the previous position, continuous professional development.

The staff of the company is the main capital, as it ensures the competitiveness of the company.

Capital

The initial capital of the company Anchor Marine ltd» is 25 million USD.

With initial capital and a loan of USD 23 million, the company will have sufficient capital to purchase 3 HANDYMAX bulk carriers aged 5 years at USD 9 million, 1 HANDYMAX bulk carrier aged 10 years at USD 7 million and 1 PANAMAX bulk carrier at age 5 years at a price of 14 million USD per vessel.

Financial plan

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons

Market price of the vessel, mln.$
Operating period, days
Average ekpl. speed, miles / day

Time charter rate for 1st year
Vessel price at the moment approx. project $

Indices of change in economic inputs

The name of indicators	Indices of changes in indicators by years

Time charter rate
Freight rate
Travel expenses
Operating costs

1. Type of cargo
2. Average lane distance
3. Ballast run, miles
4. Intensity of processing t/s

loading
unloading

loading
unloading
5. Freight rate, $


6. Expenses for the flight, $








7. Operating costs USD/day

exploitationperformance indicators of courts

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons

Running, parking and total flight time;

Number of vessel voyages per year;

Carrying capacity of the ship per year.

1. Calculation of net income.

-When the vessel is operating on a voyage charter.

where -gross freight - income for the flight;

Voyage costs - travel expenses;

Operating (running) costs - operating (current) costs for the flight;

Result on time-charter basis (time-charter equivalent) - result on time-charter basis (time-charter equivalent) for the flight;

Cargotones - the amount of cargo transported per flight;

Freight rate - freight rate (average per flight);

Fuel costs - fuel costs for the flight;

Port charges - expenses for port calls per flight;

Canal costs - costs for the passage of channels per flight;

Crewing costs - expenses for the maintenance of the crew for the flight;

Incurance - insurance costs for the flight;

Maintenance and repairs - expenses for maintenance and repair per flight.

Net income for the year when the vessel operates on a voyage charter:

where is the net income from the operation of the vessel for the year;

Number of ship voyages per year (may be non-integer);

Daily operating (current) expenses;

Operational period of the vessel per year;

Flight time.

-When the vessel is operating on a time charter:

where - time-charter rate - time charter rate.

The figures represent the net annual income of one vessel operating on a voyage or time charter and the number of vessels operating on these charters in the relevant year.

In order to bring the value of money to one period, the CF received in each year is discounted:

where is the discounted net income of the t-year;

d- discount rate %;

t- settlement year.

Economic performance of courts for 1 year of the project

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons


Flight charter









Time charter




For the project as a whole

Economic performance of courts for the 2nd year of the project

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons


Flight charter









Time charter




For the project as a whole

Economic performance of courts for the 3rd year of the project

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons


Flight charter









Time charter




For the project as a whole

Economic performance of courts for the 4th year of the project

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons


Flight charter









Time charter




For the project as a whole

Economic performance of courts for the 5th year of the project

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons


Flight charter









Time charter




For the project as a whole

Calculation of the payback period of investments

Where - the average annual discounted income;

Investments in the project being evaluated, made at the initial stage.

Vessel payback period

Indicators	Indicator Options
Vessel type	PANAMAX DW=60, thousand tons	HANDYMAX DW=40, thousand tons

Payback period of the project

Where - investments made at the initial stage;

The average discounted net income over the life of the project.

PbP= 5,22 of the year

Calculation of the profitability indexRR

RR is the reciprocal of PbP

Efficiency criterion ==0.12

Net present value calculation

Project NPV = NPV1+NPV2+ NPV3+ NPV4+ NPV5 = 40371714,31

NPV1= (10749721.92 - 2300000) / 1.12 = 7544394.57 = 7544394.57

NPV2= (10876075.75 - 2300000 + (8449721.92)*0.08) /1.12^2 = 7375680.41

NPV3= ((15297201.99- 9960000.00- 15000000) + (17701775.43)*0.08)//1.12^3 = -5869806.83

NPV4=(14770728.71 - 9194000.00 - 7000000 + 9455119.46*0.08) /1.12^4 = -423802.68

NPV5=(13083315.46 + 67600000 - 8448000.00 + 8788257.73*0.08) /1.12^5 = 79745248.84

Internal rate of return

=(10749721,92/(1+29,67/100)+10876075,75/(1+29,67/100)^2+15297201,99/(1+29,67/100)^3+14770728,71/(1+29,67/100)^4+(13083315,46+67600000)/(1+29,67/100)^5)-48000000

IRR=29,67 %

shipping planning payback profit

Repayment of a credit

	loan balance		interest

Financial operations

Availability of capital	net income	Debt repayment	Fleet Acquisition	Fleet sale	Accumulated amount in the bank

Conclusion on the course work

Analyzing the tasks set and the calculations performed, we can be convinced of the full viability of the project with a payback period of 5.2 years.

We believe that even with the existing cargo turnover this project will bring stable high profits, therefore, after the reporting five-year plan, the project should not be curtailed, on the contrary, increasing and expanding the sales markets for its services and improving the quality of the service provided will ensure a high rise in profits.

However, we cannot talk about a 100% state of the coal transportation market in five to ten years, therefore our calculations are given as a fully completed business plan with a clear implementation period and bringing a certain profit for the estimated fifth year of existence.

We hope that the above calculations will interest you and we will have fruitful cooperation.

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Business plan for the creation of the Gaz Line shipping company, one of the world's first CNG ship operators

At present, there are real prerequisites for the appearance in the near future of Russian CNG vessels with the inscription "Gas Line" on board.

The country has sufficient research and production potential for the development of a new breakthrough technology for transporting natural gas, and shipyards have sufficient experience and production capabilities for the construction of competitive CNG vessels. At the same time, the design and construction of the first CNG ships can be completed in 5-6 years.

This means that for a systematic production activities The first two CNG vessels will be able to start transporting compressed natural gas by the Gaz Line shipping company in 2012, at the same time as foreign CNG vessel operators. The shipping company Gaz Line will thus enter the new and promising compressed gas transportation market as one of the first operators of CNG ships and will be able to enjoy the benefits of being a first mover in the future. ()

The operation of the first two CNG vessels will provide the Gaz Line shipping company with a consistently high level of profitability and financial reliability. With the predicted stable high level of world prices for natural gas internal norm return on investment will exceed 25-30%.

With the expansion of the scale of the business of the shipping company "Gaz Line" and the replenishment of the fleet of CNG vessels, the internal rate of return on investment will reach 30-35%. The discounted payback period of investments (since the laying of the first CNG ships) will be 7-8 years.

In the unlikely most adverse conditions falling world prices for natural gas to the level of 2002-2003. (125-130 US dollars/thousand m3) the internal rate of return of investments will be more than 10%. (

MINISTRY OF TRANSPORT OF THE RUSSIAN FEDERATION
Federal Agency of Sea and River Transport
Federal State Educational Institution
higher professional education
“Marine State Academy named after Admiral F.F. Ushakov"

Department of Economics and Management

"Development of a business plan for a shipping company"

Guidelines for the implementation of course work
in the discipline "Planning at the enterprise"
for cadets of the 4th year of full-time and part-time studies of the specialty 080502.65 "Economics and management at the enterprise (transport)"

Novorossiysk
2010
These guidelines for the course work were prepared by Ph.D. in Economics, Associate Professor of the Department of Economics and Management Ksenzova N.N.

Approved at a meeting of the department "EM", protocol No. ____ dated "___" ______ 2010

PURPOSE AND COMPOSITION OF THE COURSE WORK

Guidelines for the implementation of the course work "Development of a business plan for a shipping company" are compiled in accordance with the program of the course "Planning at the enterprise".
The basis of the manager's work is making the right decisions and organizing work to implement them. Therefore, the purpose of the course work is to teach cadets the means and methods of making planned decisions, to form the skills and abilities to develop strategic, tactical and business plans.
The main objective of the course work is to develop an investment business plan for a shipping company to acquire a fleet in order to develop a given cargo flow.
An explanatory note to the course work should be formatted as follows.
Title page, drawn up in accordance with Appendix 1 to the course work.
Design assignment, drawn up in accordance with Appendix 2 to the course work. The number of the task (option) is determined by the last three digits of the number of the cadet's ticket (record book).
Introduction. In the introduction on 2-3 pages, it is necessary to substantiate the relevance of the chosen topic of the course work, highlight the role and place of business planning in the development of the company's business, answer the questions:
Why do you need a business plan?
Who draws up the business plan and where?
- what is included in the business plan?
Design part represents the main sections of the investment business plan of a shipping company.
Conclusion, in which brief analysis the results obtained and the main conclusions on the selection of the optimal investment business plan for a shipping company.
List of used literature includes sources and literature used by the author when writing a term paper.
All sections of the explanatory note must have a title, numbering and be arranged in a certain sequence.
All pages, formulas, tables and diagrams must be numbered; pages must have a frame in accordance with GOST. Term paper must be designed in accordance with the requirements of normative control for the design of term papers.
The text of the settlement and explanatory note should include all the necessary calculations, justifications and explanations for the calculations, with references to the sources used. Detailed calculations with explanations are given for one option, and all the others are given in tabular form.
Calculations can be performed using a PC and software (EXCEL).

The role of a business plan in the formation of company resources

The business planning process is a consistent presentation of the key points of the project, convincing the partner or investor of its profitability and the need to participate in it.
Not all companies have enough money to purchase their fixed assets. Firms around the world use borrowed capital to build their resources. However, no one in the world will give money unless there is a serious justification for the reliability of the investment of capital and the possibility of its return at a certain time and with agreed percentages.
In order to prove to a potential lender or investor the effectiveness of the proposed capital placement option, a business plan is developed. A business plan can be developed not only as a document for attracting additional investments, but also as a document for developing a concept and strategy for business development, or as a tool for evaluating the company's performance over a certain period. In the course work, the business plan is considered in all its functions.
In the shipping business, business plans are developed mainly for creditors - large banks in order to obtain investments for the construction or purchase of a fleet.
Typically, the following loan conditions are stipulated: the currency in which the loan is granted; loan amount; the percentage at which the loan is granted; loan repayment period. Bank interest rates R(%) for different clients are not the same and are calculated by the formula:
R = r + x,
where r - prime rate - the base rate set for the best (reliable) clients;
х is an additional rate depending on the client's reputation. It is usually 0.5-2%.
Banks evaluate a company seeking a loan according to the following parameters (they are called "4S", which corresponds to the Russian "4D"):
character - business reputation firms;
Cash flow - cash flow;
Collateral - additional collateral;
Contribution - share of equity.
All these elements in the business plan provided to the bank must be shown very clearly and convincingly.

Formulation of the problem

A large shipping company …..SHIP (tentative name) decided to create a subsidiary shipping company, for which it allocated 20 million USD for the acquisition of fixed assets (vessels) and the creation of working capital.
Based on the market analysis, it was concluded that within the next five years (and possibly for a longer period) there are expected to be quite good opportunities for the operation of bulk carriers of dwt? 60 thousand tons (PANAMAX) and deadweight? 40 thousand tons (HANDYMAX). It is quite likely that the company will be able to carry out a large amount of work annually on the basis of voyage charters (Voyage charter), there are also quite good prospects for the effective chartering of these vessels on a Time-charter basis on a 12-month basis.
Considering that the company is a subsidiary of the reputable shipping company …..SHIP, it is possible to obtain a loan for the purchase of a fleet from one of the banks serving the long-term needs of shipowners in the amount of up to 50% of the cost of purchased vessels with a loan repayment period of 1 to 5- years at 10% per annum. At the same time, a grace period for repayment of the loan can be stipulated, in which during the first two years or only during the first year, the loan is not repaid, but only interest is paid.
On the tonnage market, there is an opportunity to buy both ships only after construction, as well as ships that were in operation at the age of 5 and 10 years. It is assumed as an assumption that new vessels can be delivered to the buyer without delay.
The main characteristics of the ships are given in table. 1, and the indices of changes in freight rates, voyage and operating costs - in table. 2 (Table 2 shows chain growth factors).
The project applies a discount rate equal to the loan rate.
It is assumed in the course work that the potential volume of the company's transportation work on a voyage charter can be: 1100 thousand tons per year for grain cargo, for coal - 1200 thousand tons per year and for ore - 1300 thousand tons per year.
The project is designed for 5 years, after which the company can either continue to work in the relevant market segment, or change the profile of its activities by selling the existing vessels at the market price.

Table 1.

The main characteristics of the purchased vessels

Indicators	Indicator Options
Vessel type	PANAMAX Dw=60 thousand tons			HANDYMAX Dw=40 thousand tons
Age	New	5 years	10 years	New	5 years	10 years
Market price of the vessel, million USD	34-36	22-24	16-18	22-24	14-16	11-13
Operating period, days	360	355	350	360	355	350
Average operating speed, miles/day	330	320	310	330		55000	36000
Time charter rate for the 1st year, USD/day	15500	15000	14500	11000	10500	10000
Vessel price at the end of the project, million USD	25-27	16-18	11-13	16-18	11-13	8-10

table 2
Indices of change in source data

Name indicator	Indices of changes in indicators by years
Name indicator	1	2	3	4	5
Time charter rate	1,0	1,03	1,23	1,07	1,10
Freight rate	1,0	1,2	1,13	1,06	1,09
Travel expenses	1,0	1,04	1,09	1,11	1,17
Operating expenses	1,0	1,02	1,06	1,06	1,08

The developed project is evaluated at two levels:
the management of the company (Board of Directors) - to approve the direction of the company's activities in accordance with the developed project;
bank management - if necessary, obtaining a bank loan for the implementation of the project.
The effectiveness of the project is evaluated according to the following components of the vector criterion:
- net discounted income;
- payback period of investments;
- rate (index) of profitability of investments;
- net present value at the time of completion of the project;
is the internal rate of return.
The last two indicators are of interest not to the bank, but to the management of the company itself, since it can take the increase in its net present value as the company's strategy.

Business plan structure

The work is carried out in accordance with the requirements for the preparation of business plans and includes:
Title page. It should be concise and attractive, it should not be overloaded with unnecessary information. It indicates: the name of the company - the initiator of the project; purpose of the business plan; specific investor business plan; address, telephones and fax, surname and name of the director of the company and the compiler of the document; date and place of drawing up the business plan.
Table of contents. The table of contents should present a clear structure of the main sections of the business plan. As a rule, it is given enlarged, without excessive detailing. The table of contents should include not only the names of sections, but also the page numbers from which these sections begin.
Summary. It is an extremely brief summary of the essence of the business proposal, it sets out all the ideas of the business plan from setting a goal to a summary of the financial justification for the project. The summary is written in such a way as to interest a potential investor and convince him of the feasibility and effectiveness of the presented project.
Typically, a resume contains the following elements:
the name of the project and the purpose of the business plan;
brief information about the company;
essence of the project;
the total amount of investment in the project, the need for investment;
main financial results and evaluation of the project's effectiveness.
The summary is presented first immediately after the table of contents, but is written last after the development of all other sections of the business plan. The resume should be no more than 1-2 pages; the main requirements for writing it are clarity, conciseness, persuasiveness.
General description of the company. The purpose of this section is to give a general description of the company and help the potential investor to get a clear idea of the company he is interested in as an investment object or as a possible business partner. The volume of this section should not exceed 1-2 pages. General structure company descriptions should contain answers to the following key questions:

Basic information about the company. Specify:

- full name of the company;

- organizational and legal form;

- type of ownership;

- ownership structure;

- location and legal address of the company;

- mailing address, email address, Web site;

- profile and main activities of the company;

- characteristics of the legal documents required for the types of activities under consideration (necessary licenses, permits, by whom and when issued, their validity periods).

2. History of the company. Specify:

- date of foundation;

- main steps;

- stage of business development at the moment.

3. Current business organization. Described:

- the composition of the members of the management team, their shares in the capital;

- the size of the authorized capital in the company.

4. Brief description of the company's infrastructure. Specify:

- main buildings and premises;

- production capacity;

- company assets.

5. The main factors that will lead the company to success. Among the potential distinctive competencies can be (the distinctive competencies of the company are a set of unique characteristics or abilities that create special value for the consumer (charterer)):

- effective systems for the provision of services for the transport of goods;

- company personnel;

- geographic location of the company, etc.

Industry analysis. The purpose of this section is to provide an analysis of the state of affairs in the maritime transport industry. To do this, it is necessary to collect and analyze information about the industry.
In order for investments in business to be effective, it is necessary to take into account both industry and regional features of the business: how and in what direction the industry (region) develops, in what conditions the company will conduct business. The main questions that are considered as part of the industry analysis:

General description of the industry and its size. Defined:

- dynamics of traffic volumes in the industry and other industry characteristics;

- industry growth and development trends.

2. The largest enterprises in the industry.

3. Regional structure of production. Described:

- general characteristics of the region;

- distribution of transport enterprises in the region.

4. Development of sea transportation of goods in foreign navigation. Given:

- volumes of cargo transportation by types of navigation and types of transported cargo;

- main cargo flows and their characteristics;

- assessment of the prospects for the development of maritime transport in the industry and the region.

5. The main characteristics of the enterprises of the industry - potential competitors. Specify:

- nomenclature and volumes of transported goods;

- areas in which they work;

- competitiveness of companies;

- pricing policy in the field of shipping;

- the state of the material base;

- Profitability of production.

The company's products and services. The description of the lines and directions on which the company's fleet operates is given, the characteristics of the proposed transport service are given. Lines and directions of transportation are formed on the basis of individual initial data corresponding to the number of the work option. They are selected based on data analysis app. 3. It is necessary to justify whether the company's fleet will operate on a voyage or time charter, in what years and why. When developing the section, knowledge of the Geography of maritime navigation is used.
Marketing plan. The state of the market, potential opportunities for its growth are described, the expected actions of competitors are evaluated. Proposals are being developed for using a loan to enter a specific line or develop cargo traffic with the justification of specific transportation prices or a pricing strategy, options for advertising and other actions to promote the service, etc.
Management and organization. The commercial success or failure of the project depends on the quality of management. Therefore, in this section, the organizational structure of the company's management should be given and its advantages should be noted, a description of the composition of the management team that will ensure the implementation of the business plan is given. The potential investor should get an idea of who will be in charge and how the authority will be distributed among the members of the management team. When writing a section, you can use the literature on management theory.
Capital. Bankers are much more willing to give money to those who have it and who know how to handle it. It must be shown that the company itself finances a part of the project under consideration (contribution), owns sufficient capital and for effective work and to pay off debt. In the section it is necessary to show how the company intends to dispose of its capital over the years of the project period (using the net income received, buying and selling ships, keeping the accumulated amounts in the bank). In the latter case, the company receives 10% per annum for the storage of funds.
Financial plan. This section is the final and most important. Lenders trust only numbers and know how to analyze them. Therefore, the section performs scrupulous calculations of the company's net income by years, analyzes the process of reaching the break-even point of the project, the possibility of repaying the debt and paying interest on the loan. All calculations are carried out with discounting at the accepted discount rate. The methodology for substantiating the financial plan is given in sec. four.

Methodology for substantiating the financial plan

The most significant point in the calculation of the financial plan is the choice of methodology, according to which the project indicators will be justified. The methodology should be adapted to the requirements of the investor who is the potential lender of the project and to whom the business plan will be submitted for consideration. No investor will even consider the submitted business plan if the financial justification is made according to a methodology unknown to him.
In fact, the methodology for substantiating the effectiveness of a business plan comes down to finding a vector:
X = (DCF, PbP, RR, NPV, IRR) (1)

where DCF- discounted cash flow - net discounted income;

PbP– payback period – payback period of investments;

RR- rate of return - profitability index;

NPV- net present value - net present value;

IRR– internal rate of return – internal rate of return.

The term paper considers a variant of the methodology for justifying the effectiveness of investments, adapted for shipping companies that own a fleet for the transport of bulk cargo (coal, ore, grain, oil, etc.). hallmark of such companies is that the company can either manage its own fleet, operating on a voyage charter, or charter part of the tonnage on a time-charter basis.
The key issue in the methodology for substantiating the effectiveness of investments is the degree to which the level of future income and expenses associated with the implementation of the project is justified. It is especially difficult to predict the level of freight rates for the carriage of goods on voyage charters and the level of time charter rates.
Justification of the level of values that make up the initial data and standards remains the most difficult task in the development real business plans, and students need to understand this. During course design, this part of the work is not required from cadets (students). It is believed that the level of initial data and standards is already justified at the preliminary stage.
The investment justification methodology is as follows.
Preliminarily, the calculation of the voyage time, the number of voyages of each standard size of the vessel per year and its annual carrying capacity is made according to well-known formulas. The results are summarized in table. 3.

Table 3
Operational performance of ships

?Q
where t X , t st , t R - running, parking and total flight time;
r- the number of ship voyages per year (rounded to the nearest whole number
the other side, since the records of the work of the courts are kept according to the sent
flights);
?Q - carrying capacity of the ship per year.
Next is the calculation of economic indicators.

Calculation of net income CF

- When the vessel is operating under a voyage charter:

CF v = (GF v - VC v )-OC v ; (2)

TCE v = GF v - VC v - result on the time charter base for the flight; (3)

where GF v - gross freight - income per voyage, determined by the product of the freight rate for the loading of the vessel on the voyage minus the brokerage commission, while the percentage of the brokerage commission for grain cargo is 4.0%, for coal - 3.8%, for ore - 3.5% ;

VC v – voyage costs - voyage costs (fuel costs, por-

shipping and channel fees, etc.);

OC v - operating (running) costs - operating (current) costs

etc.................

Basically, shipping companies are divided into several types. The first and most common type is the transportation of goods. Next come companies operating in the field of servicing marine vehicles, oil marine companies. Well, there is also a company that rents a floating hotel for employees of other companies.

This is the last type of business I wanted to talk about. Although other types of shipping companies also deserve attention. In any case, you first need to buy the ship itself. Ships are on the secondary market starting from 1 million dollars. Plus, add funds for repairs, re-equipment, and certification of the ship's systems. It turns out to be quite a large amount. The list of certificates and permits easily exceeds 50. These include permission for radio communications, going to sea for a vessel, sailing under the flags of the country where you are going to open this species business. And much more.

Of course, there are already firms that solve many issues when opening a shipping company. Such firms specialize in "turnkey" work. You enter into an agreement supposedly for consulting services for a fairly substantial amount with deductions every month for the entire period of the company's operation. That is, in fact, such a company becomes your "roof". They usually provide protection from the misfortunes of petty government inspectors.

Just like that, without having a good client base Of course, no one opens this type of business. But this is a very profitable business. Cargo transportation and other services in the maritime business are very promising to create. The development of marine oil fields The demand for such services is constantly growing.

For example, take a floating hotel. Such a hotel should have everything - a gym, a dining room, recreation areas, showers, a toilet and others. mandatory conditions. At the same time, 1 ship is not enough here. We need at least 3 more ships. 1st ship will deliver provisions to the main ship, 2nd ship will carry out minor repairs and waste disposal. 3 the ship must move the floating hotel from place to place. Well, not 3 ships, so in 2 you can, if you need to save money. Plus, we need large boats or barges to deliver people from ship to workplace and back.

The amount of investment required to create a small local shipping company is about 3-4 million dollars. In the case of creating a global company (sea freight worldwide) will be from 10 million dollars. How do people do to open such a company. Correctly. They take investments, look for investors. Usually, investments are taken for up to 10 years, they are not paid out in the first 3 years, increasing income and creating all conditions for successful work maritime shipping company.

Market conditions challenge shipping companies to improve the process of formation financial results. In this regard, the management of costs and profits by financial responsibility centers (FRC) and the improvement of information support for decision-making, etc. are relevant.

In the process of managing financial results by financial responsibility centers, an important place is occupied by a marginal analysis of the work of the vessel for the planned period and the company as a whole. Marginal analysis of the activities of the courts should include:

structured profit analysis, which includes the calculation contribution margin, the first intermediate marginal profit, the second intermediate marginal profit;
calculation of the break-even point, break-even ratio, profit margin ratios, financial safety margin for individual responsibility centers and the company as a whole.

A structured analysis of the profits of a shipping company will determine the potential profitability of the vessels, the efficiency of the operation of the company's vessels.

The calculation of the break-even point is necessary to determine the minimum volume of traffic for the break-even activity of the shipping company. The margin of financial strength allows assessing the possibility of break-even activity as a result of changes in the volume of traffic, rising costs and, as a result, assessing the change in the position of the shipping company in the relevant market segment. And operating leverage can be viewed as the reciprocal of the financial safety margin.

The contribution of each financial responsibility center to the formation of the company's financial result can be represented graphically (Figure No. 1). For a shipping company, the contribution of each ship to the formation of the company's financial results can be presented on the basis of the following data: the share of income of each ship in the structure of the shipping company's income; coefficient of the second intermediate marginal profit; the share of the marginal profit of each vessel in the structure of the company's marginal profit.

An example of a marginal analysis of the effectiveness of a shipping company that operates three vessels (the center of financial responsibility "C1", "C2" and "C3") is presented in the table below.

Margin analysis of a shipping company

No. p / p	Index	Formula	Central Federal District (thousand rubles)
No. p / p	Index	Formula	Total	C1	C2	C3
1.	Income		11525,3	4129,8	3586,1	3809,4
2.	Share of CFD income in total income, %		100,0%	35,8%	31,1%	33,1%
3.	Travel expenses		1900,1	609,6	633,0	657,5
4.	Current expenses for the maintenance of the vessel and crew (excluding expenses for the administrative apparatus)		1719,8	550,5	646,9	522,4
5.	Management expenses		606,1	227,7	176,8	201,6
6.	Depreciation		2896,6	1102,6	896,1	897,9
7.	Marginal profit	p.1 - p.3	9625,2	3520,2	2953,1	3151,9
8.	First Interim Marginal Profit	p.7 - p.4	7905,4	2969,7	2306,2	2629,5
9.	Second Interim Marginal Profit	p.8 - p.6	5008,8	1867,1	1410,1	1731,6
10.	Operating profit	p.9 - p.5	4402,7	1639,4	1233,3	1530,0
11.	fixed costs		5222,5	1880,8	1719,8	1621,9
12.	Break even ratio	item 11 / item 7	0,54	0,53	0,58	0,51
13.	Break even	item 12 * item 1	6255,2	2206,5	2088,4	1960,2
14.	Margin of financial strength, %	(1 - item 12) * 100	45,7%	46,6%	41,8%	48,5%
15.	Marginal profit ratio, %	(clause 7 / clause 1) * 100	83,5%	85,2%	82,3%	82,7%
16.	Second Interim Marginal Profit Ratio	(clause 9 / clause 1) * 100	43,5%	45,2%	39,3%	45,5%
17.	Marginal profit structure, %		100,0%	36,6%	30,7%	32,7%
18.	Force of influence operating lever	1 / item 14 * 100	2,19%	2,15%	2,39%	2,06%

As a result of calculating the indicators, the following conclusions can be drawn about the efficiency of the functioning of individual courts of the company:

the marginal profit ratio for the CFR "C1" is the largest, therefore, the potential profitability of the first vessel is higher;
CFD "C2" has the highest break-even ratio in the company, which indicates that the efficiency of vessel No. 2 is the lowest compared to the rest of the company's vessels;
the risk of unprofitable activity of the CFR "C2" is the highest in comparison with other courts of the company, and the CFR "C3" is the lowest;
the margin of financial safety for the CFD "C" is 48.5%, therefore, within the break-even operation of the vessel, the revenue can be reduced by 48.5%;
CFO "C2" has the greatest operating leverage in comparison with other courts. In the event of a deterioration in market conditions, the loss of profit on this vessel will be the largest (23.9% with a decrease in revenue by 10%, compared to 21.5% and 20.6% for C1 and C3, respectively).
the strength of the operating leverage for the FRC "C3" is 2.06 times, therefore, in the event of an increase in income (for example, with an increase in the freight rate) by 10%, the ship's profit will increase by 20.6%. In the event of a deterioration in market conditions, the risk of loss of profits of CFR C3 is the lowest in comparison with other vessels of the company;
in the event of an increase in freight rates, the terms of the general contract should be fulfilled by the third vessel “C3”, in case of negative trends in freight rates, it is advisable to use the second vessel, since profit losses will be greatest when chartering on the open freight market;
in general, the break-even ratio for the company is 0.54, which indicates the efficiency of the company as a whole and is confirmed by a financial safety margin of 45.7%. The high margin ratio also speaks to the high potential profitability of the company's vessels.

Figure 1. The contribution of the results of the operation of ships in the formation of the financial result of the shipping company

As can be seen from the above figure, "C2" has the smallest contribution to the formation of the profit of the shipping company in comparison with "C1" and "C3". At the same time, C3, having the highest marginal profit ratio, is inferior to C1 in terms of the share of marginal profit and the share of income. Thus, we can say that "C1" has the greatest contribution to the formation of the financial result of the shipping company.

Operating profit management is based on information about the income of the courts and the company, the amount of fixed, variable costs and their ratio.

As a result of improving the process of formation of financial results, managers of the shipping company can take effective management decisions in terms of costs, revenues and profits, aimed at achieving the strategic and current goals of the shipping company.

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