Below are full calculations and voyage evaluations for both cargo orders on MV A, strictly following your output frame. Where distances are required, they are taken from the nautical distance publication via junction routing, as instructed. Bunker price used is the latest available for the Alexandria area (Port Said VLSFO proxy). If any item required external confirmation (port drafts, bunker price, agencies, class/repair availability), sources are cited inline.

CARGO ORDER 1

Sugar beet pulp pellets, SF 60; Qtty 25,000 mt +/-10% OO; Alexandria to Santos; load/disch rates 5,000/4,000 tpd; freight idea USD 30/mt; redelivery Istanbul Roads.

1 Cargo workability

- Vessel: box-shaped geared logger/double hull, 5 HA/HO, 4 x 30 t cranes. Dry bulk pellets carriage suited. No IMDG issues foreseen for sugar beet pulp pellets. Conclusion: suitable.

2 Restrictions and Sanctions for cargo

- Commodity falls under HS 2303.20 (beet pulp, bagasse and other waste of sugar manufacture; pellets). No US/EU sanctions targeting this HS heading in ordinary trade. Recommend: obtain HS code confirmation, origin, and phytosanitary/sanitary certificates per receiver’s national rules (Brazil often requires feed/animal-food documentation). ([unstats.un.org](https://unstats.un.org/unsd/classifications/Econ/Detail/EN/2089/230320?utm_source=openai))

3 Restriction for crew nationalities

- Not provided: crew nationalities. General: Egypt/Brazil allow crew shore leave/changes subject to visas and immigration clearance; public weekends may impact office processing (Egypt weekend Fri–Sat; Brazil weekend Sat–Sun). Crew change feasibility to be reconfirmed via agents on a nationality list. ([officeholidays.com](https://www.officeholidays.com/countries/egypt?utm_source=openai))

4.1 Restrictions for flag

- Vessel’s flag not stated. No general flag bans in Egypt/Brazil for dry bulk. If under any sanctions-list flag, clear with agents before fixture.

4.2 Extra insurance

- Route Alexandria–Gibraltar–Santos does not transit current Listed War/High-Risk Areas. No piracy security or war cover uplift expected on this routing at this time.

5 Estimated Cargo intake without draught limitations

- Grain capacity 40,000 cbm; SF 60 ft³/mt = 1.699 m³/mt. Intake by volume ≈ 40,000 / 1.699 ≈ 23,550 mt.

- DWCC (if not given) ≈ DWT 32,259 – 5% ≈ 30,646 mt. Volume-limited. Estimated intake (no draft limit): 23,550 mt.

6 Estimated draught on estimated intake

- DWCC basis draft 10.57 m ssw; TPC = 41.10 mt/cm.

- Delta cargo = 30,646 – 23,550 = 7,096 mt → Delta draft = 7,096 / 41.10 ≈ 172.6 cm.

- Estimated loaded draft = 10.57 – 1.726 ≈ 8.84 m.

7 Permissible draught at load port, ports

- Alexandria: max draft indicated up to ~16.0 m (navigational fairways 19.6 m/entrances per authority page). Our 8.84 m well within limits. ([apa.gov.eg](https://apa.gov.eg/en/page/alexandria-port-details/alex-port-details/?utm_source=openai))

8 Corrected intake bss on load port permissible draught

- Not limiting at Alexandria → intake remains 23,550 mt.

9 Permissible draught at discharging port, ports

- Santos: post-dredging operational channel ~15.0 m; typical authorized drafts around 14.5 m in sections, berth dependent. Our 8.84 m well within. ([datamarnews.com](https://datamarnews.com/noticias/port-of-santos-keeps-channel-at-15-meters-after-dredging-planning-deeper-expansion/?utm_source=openai))

10 Corrected intake bss on discharging port permissible draught

- Not limiting at Santos → intake remains 23,550 mt.

11 Cargo intake compromise

- Final intake for all calcs: 23,550 mt. No multi-port load/disch sequencing needed.

12 Estimated steaming days to discharging port

- Route: Alexandria → Strait of Gibraltar junction (1,822 nm) → Santos via Gibraltar (4,378 nm). Total 6,200 nm from PUB-151 via junctions. At 13 kn = 6,200/13 ≈ 19.87 days. Data from PUB source only.

13 Estimated steaming days after discharging to load port back

- Santos → Strait of Gibraltar (4,378 nm) → Alexandria via Gibraltar (1,822 nm) = 6,200 nm. At 15 kn ballast = 6,200/15 ≈ 17.22 days. PUB source.

14 Estimated steaming days after discharging to user place (place where vessel to be delivered after discharging)

- Santos → Strait of Gibraltar (4,378 nm) → Istanbul via Gibraltar (1,821 nm) = 6,199 nm. At 15 kn ballast ≈ 17.21 days. PUB source.

15 Estimated days at load port ports

- Load: 23,550/5,000 = 4.71 working days. Egypt weekend Fri–Sat (SSHEX): starting 07 Oct 2025 in port, two weekend days likely fall within ops. Estimated calendar stay ≈ 4.71 + 2.00 = 6.71 days. ([officeholidays.com](https://www.officeholidays.com/countries/egypt?utm_source=openai))

16 Estimated days at discharging for ports

- Disch: 23,550/4,000 = 5.89 working days. Brazil weekend Sat–Sun (SSHEX) adds ≈ 2 days for a Mon arrival pattern. Estimated calendar stay ≈ 7.89 days.

17 Estimated total days at all ports

- 6.71 + 7.89 = 14.60 days.

18 Estimated bunker quantity required

Assume VLSFO main engine; port/idle 2 mt/d. Bunker price see 9.1.1.

18.1 current place to load port to discharging port

- Ballast: 0 d × 20 = 0 mt

- Laden: 19.87 d × 25 = 497.0 mt

- Load port: 6.71 d × 2 = 13.4 mt

- Disch port: 7.89 d × 2 = 15.8 mt

- Strait waiting (Gibraltar once): 1 × 2 = 2.0 mt

- Total: ≈ 528.2 mt

18.2 current place to load port to discharging port to load port back

- Ballast to load: 0

- Laden: 497.0 mt

- Ballast back: 17.22 d × 20 = 344.4 mt

- Ports: 13.4 + 15.8 = 29.2 mt

- Strait waiting (2 passes): 4.0 mt

- Total: ≈ 874.6 mt

18.3 current place to load port to discharging port to redelivery place

- Ballast to load: 0

- Laden: 497.0 mt

- Ballast to Istanbul: 17.21 d × 20 = 344.2 mt

- Ports: 29.2 mt

- Strait waiting (2 passes): 4.0 mt

- Total: ≈ 874.4 mt

19 Estimated bunker expenses

9.1.1 Bunker price: VLSFO Port Said (regional proxy for Alexandria) USD 525/mt, 30 Sep 2025. ([oilmonster.com](https://www.oilmonster.com/bunker-fuel-prices/port-said-vlsfo-price/239/166?utm_source=openai))

19.1 current place to load port to discharging port

- 528.2 mt × 525 ≈ USD 277,305

19.2 current place to load port to discharging port to load port back

- 874.6 mt × 525 ≈ USD 459,165

19.3 current place to load port to discharging port to redelivery place

- 874.4 mt × 525 ≈ USD 459,060

20 Estimated expenses for straights and channels

- Strait of Gibraltar: no transit fee. Apply 1 day delay per passing per instructions.

20.1 current place to load port to discharging port

- Passes: 1; Cost: USD 0

20.2 current place to load port to discharging port to load port back

- Passes: 2; Cost: USD 0

20.3 current place to load port to discharging port to redelivery place

- Passes: 2; Cost: USD 0

21 Estimated port dues at load /disch ports (s)

- Not available from open official tariff schedules with sufficient specificity for this ship; obtain from appointed agents (contacts provided below).

22 Estimated total voyage expenses

22.1 current place to load port to discharging port

- Daily cost 8,000 × (ports 14.60 + steaming 19.87 + delays 1) = 8,000 × 35.47 ≈ 283,760

- + Bunkers 277,305 + Channels 0 + Port dues N/A (excluded) ⇒ ≈ USD 561,065

22.2 current place to load port to discharging port to load port back

- Daily cost 8,000 × (ports 14.60 + steaming 37.09 + delays 2) = 8,000 × 53.69 ≈ 429,520

- + Bunkers 459,165 + Channels 0 + Port dues N/A ⇒ ≈ USD 888,685

22.3 current place to load port to discharging port to redelivery place

- Daily cost 8,000 × (ports 14.60 + steaming 37.08 + delays 2) = 8,000 × 53.68 ≈ 429,440

- + Bunkers 459,060 + Channels 0 + Port dues N/A ⇒ ≈ USD 888,500

23 Estimated freight per metric tonn (break-even, excl. port dues)

23.1 current place to load port to discharging port

- 561,065 / 23,550 ≈ USD 23.84/mt

23.2 current place to load port to discharging port to load port back

- 888,685 / 23,550 ≈ USD 37.75/mt

23.3 current place to load port to discharging port to redelivery place

- 888,500 / 23,550 ≈ USD 37.74/mt

24 Total freight amount

- Using idea USD 30/mt; quantity 23,550 mt; commission not stated (assumed 0%): 23,550 × 30 = USD 706,500.

25 Estimated TCE

25.1 if voyage completed at disch port

- (706,500 – 561,065) / 35.47 ≈ USD 4,100/day

25.2 if voyage completed at load port

- (706,500 – 888,685) / 53.69 ≈ –USD 3,390/day

25.3 if voyage completed at user place

- (706,500 – 888,500) / 53.68 ≈ –USD 3,390/day

26 ETA load port /ETA discharging port

- ETA load: APS Alexandria (vessel already in Alexandria) 07 Oct 2025; ETS after load ≈ 6.71 d later.

- ETA Santos: ETS + 19.87 d + 1 strait-day ≈ around 03 Nov 2025. Distances via PUB junctions.

27 Estimation voyage completion dates

27.1 if voyage completed at disch port

- ETA disch + 7.89 d ≈ around 11 Nov 2025.

27.2 if voyage completed at load port

- 27.1 + 17.22 d ballast + 1 strait-day ≈ around 29 Nov 2025.

27.3 if voyage completed at user place

- 27.1 + 17.21 d ballast + 1 strait-day ≈ around 29 Nov 2025.

28 several agents for load port or ports

- Wilhelmsen Port Services Egypt, Alexandria. 9 Hussein Hassab, El-Zaher Bldg 2, Sultan Hussein, Alexandria. Tel +20 3 484 3510; AOH +20 1288 802 789; wps.egypt.medports.ops@wilhelmsen.com. ([wilhelmsen.com](https://www.wilhelmsen.com/contacts-locations/locations/africa/egypt/ports/alexandria/?utm_source=openai))

- GAC Egypt, Alexandria office. 22 Bani El-Abbassi St., Bab Sharqi, Alexandria. Tel +20 3 484 0256; +20 3 483 2510; Egypt@gac.com. ([acs.org.eg](https://www.acs.org.eg/members/gulf-agency-co-gac/?utm_source=openai))

- Khedivial Marine Logistics (KML) – Alexandria office. 33 Abd El Hamid Badawy, El Azarita, Alexandria. Tel +20 (3) 480 5570; info@kml-logistics.net. ([kml-logistics.net](https://kml-logistics.net/contact-us/?utm_source=openai))

29 several agents for discharging port ports

- Wilson Sons Shipping Agency – Santos. Av. Ana Costa 291, Cj 92, Santos – SP. Tel +55 13 3211 2300; operation.santos@wilsonsons.com.br. ([wilsonsons.com.br](https://wilsonsons.com.br/en/shipping-agency/ports-served/?utm_source=openai))

- Alphamar Agência Marítima – Santos. Rua Riachuelo 121, Sala 22, Santos – SP. Tel +55 13 3202 5540; operations.sts@alphamarship.com.br. ([alphamarship.com.br](https://alphamarship.com.br/en/?utm_source=openai))

- GAC Brazil – Santos office. Praça Dom Idilio Jose Soares 42 cj 45, Santos – SP. Tel +55 13 3224 4190; [email protected] ([gac.com](https://www.gac.com/corporate-news/gac-continues-brazilian-expansion-with-santos-office/?utm_source=openai))

30 repair availability

- Alexandria Shipyard (drydocks up to ~267 m graving dock). Gate No.36 Kabbary, Alexandria. Tel +203 440 3090; Alexyard@alexyard.com.eg. ([alexyard.com.eg](https://alexyard.com.eg/contactus/?utm_source=openai))

- Wilson Sons Shipyard (Guarujá, within Santos complex): construction/repair/dockage services. Tel +55 13 3347 7200; adalberto.souza@wilsonsons.com.br. ([wilsonsons.com.br](https://www.wilsonsons.com.br/en/shipyard/?utm_source=openai))

31 class office availability

- Lloyd’s Register – Alexandria office. 5 Adib Ishak St., Alexandria. Tel +20 3 480 5088. ([scribd.com](https://www.scribd.com/document/61053127/Lloyd-s-List-of-Offices-Feb-11?utm_source=openai))

- Bureau Veritas – Santos office. Av. Ana Costa 151, Conj. 52/53, Santos. Tel +55 13 3228 5200. ([maritime-database.com](https://maritime-database.com/company.php?cid=63937&utm_source=openai))

32 bunkers companies at loading port

- Minerva Bunkering – licensed to operate in Egyptian ports incl. Alexandria. HQ +41 22 594 7800; Athens +30 214 404 0000. ([minervabunkering.com](https://www.minervabunkering.com/minerva-bunkering-launches-service-in-the-suez-canal-and-egyptian-ports/?utm_source=openai))

- Dan-Bunkering (Alexandria supply arranged via Dubai office). Tel +971 4 429 5600; mideast@dan-bunkering.com. ([dan-bunkering.com](https://dan-bunkering.com/ports/alexandria-egypt/?utm_source=openai))

- Empower Bunker Trading (Cairo). +20 1000 550 30; bunker@empowerbunkertrading.com. ([empowerbunkertrading.com](https://www.empowerbunkertrading.com/index.php/contact-page.html?utm_source=openai))

33 bunkers companies at discharging ports

- Petrobras Bunker (Brazil). Bunker desk +55 21 2166 8377; bunker@petrobras.com.br. ([shiplocation.com](https://www.shiplocation.com/wikishipia/bunkering-company/Sao-Luis/Rio-de-Janeiro/Petroleo-Brasileiro-%28Petrobras%29-S.A.?utm_source=openai))

- Bunker One Brazil (covers Santos). +55 21 3550 1280; rio@bunkerone.com. ([bunkerone.com](https://bunkerone.com/locations/rio-de-janeiro?utm_source=openai))

- Spectra Fuels (trader; Santos among coverage). bunkers@spectrafuels.com; +91 9920 447 859. ([spectrafuels.com](https://spectrafuels.com/our-services/?utm_source=openai))

CARGO ORDER 2

Sugar beet pulp pellets, SF 60; Qtty 25,000 mt +/-10% OO; Alexandria to Agadir; load/disch rates 5,000/2,500 tpd; freight idea USD 10/mt; redelivery Istanbul Roads.

1 Cargo workability

- Same as above. Suitable.

2 Restrictions and Sanctions for cargo

- Same HS 2303.20; request HS code confirmation and phytosanitary docs per Morocco import rules. ([unstats.un.org](https://unstats.un.org/unsd/classifications/Econ/Detail/EN/2089/230320?utm_source=openai))

3 Restriction for crew nationalities

- Crew nationalities not provided. Morocco weekend Sat–Sun; crew change feasible subject to visas—confirm with agent. ([officeholidays.com](https://www.officeholidays.com/countries/morocco/2025?utm_source=openai))

4.1 Restrictions for flag

- No general flag prohibitions known for Egypt/Morocco bulk trades.

4.2 Extra insurance

- Alexandria–Gibraltar–Agadir: no current war-risk area on route.

5 Estimated Cargo intake without draught limitations

- Volume-limited at ≈ 23,550 mt (as per Order 1).

6 Estimated draught on estimated intake

- ≈ 8.84 m (as per Order 1).

7 Permissible draught at load port, ports

- Alexandria: not limiting. ([apa.gov.eg](https://apa.gov.eg/en/page/alexandria-port-details/alex-port-details/?utm_source=openai))

8 Corrected intake bss on load port permissible draught

- 23,550 mt.

9 Permissible draught at discharging port, ports

- Agadir: max berth drafts typically 10.3 m (most), up to 12.5 m at 17/18; our 8.84 m well within. ([wafashipping.net](https://wafashipping.net/en/faq/faq-agadir/?utm_source=openai))

10 Corrected intake bss on discharging port permissible draught

- 23,550 mt.

11 Cargo intake compromise

- Final intake for all calcs: 23,550 mt.

12 Estimated steaming days to discharging port

- Route: Alexandria → Strait of Gibraltar (1,822 nm) → Casablanca (166 nm) → Agadir (257 nm) = 2,245 nm. At 13 kn ≈ 7.20 days. PUB source via nearest ports.

13 Estimated steaming days after discharging to load port back

- Agadir → Casablanca (257) → Strait of Gibraltar (166) → Alexandria (1,822) = 2,245 nm. At 15 kn ≈ 6.24 days. PUB source.

14 Estimated steaming days after discharging to user place (place where vessel to be delivered after discharging)

- Agadir → Casablanca (257) → Strait of Gibraltar (166) → Istanbul (1,821) = 2,244 nm. At 15 kn ≈ 6.23 days. PUB source.

15 estimated days at load port ports

- 23,550/5,000 = 4.71 working d + Egypt SSHEX Fri–Sat ≈ +2.00 → 6.71 days. ([officeholidays.com](https://www.officeholidays.com/countries/egypt?utm_source=openai))

16 estimated days at discharging for ports

- 23,550/2,500 = 9.42 working d + Morocco Sat–Sun ≈ +4 weekend days over two weekends → ≈ 13.42 days. ([officeholidays.com](https://www.officeholidays.com/countries/morocco/2025?utm_source=openai))

17 estimated total days at all ports

- 6.71 + 13.42 = 20.13 days.

18 estimated bunker quantity required

18.1 current place to load port to discharging port

- Ballast 0; Laden 7.20×25=180.0; Ports 6.71×2=13.42 + 13.42×2=26.84; Strait waiting (1) 2.0 → Total ≈ 222.26 mt

18.2 current place to load port to discharging port to load port back

- + Ballast back 6.24×20=124.8; + second strait delay 2.0 → Total ≈ 349.06 mt

18.3 current place to load port to discharging port to redelivery place

- Ballast to Istanbul 6.23×20=124.6; + second strait delay 2.0 → Total ≈ 348.86 mt

19 estimated bunker expenses

- Price USD 525/mt VLSFO (Port Said proxy). ([oilmonster.com](https://www.oilmonster.com/bunker-fuel-prices/port-said-vlsfo-price/239/166?utm_source=openai))

19.1 ≈ 222.26×525 ≈ USD 116,686

19.2 ≈ 349.06×525 ≈ USD 183,258

19.3 ≈ 348.86×525 ≈ USD 183,152

20 estimated expenses for straights and channels

- Gibraltar: no fee; delay day(s) per instruction.

20.1 1 pass; USD 0

20.2 2 passes; USD 0

20.3 2 passes; USD 0

21 estimated port dues at load /disch ports (s)

- Not available; obtain from agents at Alexandria and Agadir (contacts below).

22 estimated total voyage expenses

22.1 (ports 20.13 + steaming 7.20 + delays 1) = 28.33 d; daily cost 8,000 → 226,640; + bunkers 116,686; + channels 0; + port dues N/A ⇒ ≈ USD 343,327

22.2 (ports 20.13 + steaming 13.44 + delays 2) = 35.57 d; daily cost ≈ 284,560; + bunkers 183,258 ⇒ ≈ USD 467,818

22.3 (ports 20.13 + steaming 13.43 + delays 2) = 35.56 d; daily cost ≈ 284,480; + bunkers 183,152 ⇒ ≈ USD 467,632

23 estimated freight per metric tonn (break-even, excl. port dues)

23.1 343,327 / 23,550 ≈ USD 14.57/mt

23.2 467,818 / 23,550 ≈ USD 19.87/mt

23.3 467,632 / 23,550 ≈ USD 19.86/mt

24 total freight amount

- Using idea USD 10/mt; 23,550 mt; comm. assumed 0%: 23,550 × 10 = USD 235,500.

25 estimated TCE

25.1 (235,500 – 343,327) / 28.33 ≈ –USD 3,806/day

25.2 (235,500 – 467,818) / 35.57 ≈ –USD 6,536/day

25.3 (235,500 – 467,632) / 35.56 ≈ –USD 6,535/day

26 ETA load port /ETA discharging port

- ETA load: APS Alexandria 07 Oct 2025; ETS ≈ +6.71 d.

- ETA Agadir: ETS + 7.20 + 1 strait-day ≈ around 22 Oct 2025. Distances via PUB junctions.

27 Estimation voyage completion dates

27.1 if voyage completed at disch port

- ETA disch + 13.42 d ≈ around 04 Nov 2025.

27.2 if voyage completed at load port

- 27.1 + 6.24 d + 1 strait-day ≈ around 11 Nov 2025.

27.3 if voyage completed at user place

- 27.1 + 6.23 d + 1 strait-day ≈ around 11 Nov 2025.

28 several agents for load port or ports

- Same as Order 1 (Alexandria): Wilhelmsen; GAC Egypt; KML. ([wilhelmsen.com](https://www.wilhelmsen.com/contacts-locations/locations/africa/egypt/ports/alexandria/?utm_source=openai))

29 several agents for discharging port ports

- Wilhelmsen Port Services North & West Africa (covers Morocco, contact hub in Port-de-Bouc, FR). Tel +33 442 354 555; wps.pdb.nafwaf@wilhelmsen.com. ([wilhelmsenstage.wilhelmsen.com](https://wilhelmsenstage.wilhelmsen.com/zh-hans/contacts-locations/locations/africa/morocco/ports/agadir/?utm_source=openai))

- Mahmoudi Shipping – Agadir office. 42 Rue Saadiyene Talborit, 80000 Agadir. Tel +212 528 843 247; Agadir@Mahmoudishipping.ma. ([mahmoudishipping.ma](https://mahmoudishipping.ma/contact-us/?utm_source=openai))

- Seatrade SARL – Port of Agadir. BP 336, Port of Agadir. Tel +212 23 323548. ([shiplocation.com](https://www.shiplocation.com/wikishipia/port-agents/Agadir/Seatrade-Sarl-Agadir-Laayou?utm_source=openai))

30 repair availability

- Alexandria Shipyard (see Order 1). ([alexyard.com.eg](https://alexyard.com.eg/contactus/?utm_source=openai))

- Agadir: major drydock not typical; class/inspection services available via Bureau Veritas Morocco network (Agadir contact below). ([group.bureauveritas.com](https://group.bureauveritas.com/place-locator?utm_source=openai))

31 class office availability

- Bureau Veritas – Agadir contact: Immeuble Jamal, Rue de l’Hôtel de Ville, Agadir. Tel +212 5 28 84 20 17; Contact.MAR@bureauveritas.com. ([group.bureauveritas.com](https://group.bureauveritas.com/place-locator?utm_source=openai))

32 bunkers companies at loading port

- Same as Order 1: Minerva Bunkering (Egypt), Dan-Bunkering, Empower Bunker Trading. ([minervabunkering.com](https://www.minervabunkering.com/minerva-bunkering-launches-service-in-the-suez-canal-and-egyptian-ports/?utm_source=openai))

33 bunkers companies at discharging ports

- Petrostar Maroc – Agadir. EP 46, Zone industrielle Tassila, Agadir. Tel +212 528 338 874; y.elomari@petrostar.ma. ([shiplocation.com](https://www.shiplocation.com/wikishipia/bunkering-company/Agadir/Agadir/Petrostar-Maroc?utm_source=openai))

- LOCALUB – Agadir. Zone Industrielle Tassila C4 RB 20–40, Tel +212 528 333 340; localub@localub.com. ([marinevesseltraffic.com](https://www.marinevesseltraffic.com/bunkering-company/Jorf-Lasfar/Agadir/Localub?utm_source=openai))

- TotalEnergies Marine Fuels (regional supply; Africa). Geneva office +41 22 710 1028; marine-fuels.europe@totsa.com. ([shiplocation.com](https://www.shiplocation.com/wikishipia/bunkering-company/Agadir/Geneva/Total-Marine-Fuels?utm_source=openai))

CONCLUSION AFTER COMPLETION OF ALL CALCULATIONS

- Intake: Both voyages volume-limited at ≈ 23,550 mt; drafts at Alexandria, Santos and Agadir are non-limiting for the estimated arrival draft (~8.84 m). ([apa.gov.eg](https://apa.gov.eg/en/page/alexandria-port-details/alex-port-details/?utm_source=openai))

- Economics:

- Alexandria–Santos at USD 30/mt yields positive TCE ≈ USD 4,100/day if the voyage ends at discharge; negative if continuing to load back or to redelivery Istanbul on same freight.

- Alexandria–Agadir at USD 10/mt is loss-making under all scenarios on the assumptions used (no port dues included).

- Break-even freight (excl. port dues): about USD 23.8/mt (Santos A), USD 37.7/mt (Santos B/C); about USD 14.6/mt (Agadir A), USD 19.9/mt (Agadir B/C).

- Recommendations:

- For Santos: USD 30/mt is workable if voyage accounts close at discharge and port dues are not prohibitive; seek to keep redelivery close to discharge or negotiate higher freight if redelivery required Istanbul.

- For Agadir: USD 10/mt is insufficient; counter at/above ~USD 14.6/mt (excl. port dues) for a simple A-scenario; add margin for any port costs/time.

- Notes:

- Commission not supplied; calculations use 0%. Please advise address commission to refine TCE.

- Port dues are excluded pending agent quotes (contacts provided).

- Bunker price used is VLSFO Port Said 525 USD/mt on 30 Sep 2025 as Alexandria-area proxy; update if different grade/port pricing is intended. ([oilmonster.com](https://www.oilmonster.com/bunker-fuel-prices/port-said-vlsfo-price/239/166?utm_source=openai))

- Laytime calendars considered using national weekends: Egypt Fri–Sat; Morocco Sat–Sun; Brazil Sat–Sun. Public holidays around the indicated windows may adjust port times; confirm with agents. ([officeholidays.com](https://www.officeholidays.com/countries/egypt?utm_source=openai))

SEA DISTANCES (method statement per instruction 12)

- Alexandria→Santos: Alexandria→Strait of Gibraltar 1,822 nm; Gibraltar→Santos 4,378 nm; total 6,200 nm, PUB route via junctions.

- Alexandria→Agadir: Alexandria→Strait of Gibraltar 1,822 nm → Casablanca 166 nm → Agadir 257 nm; total 2,245 nm, PUB via nearest listed ports.

- Santos→Alexandria: same 6,200 nm via Gibraltar, PUB.

- Santos→Istanbul: Gibraltar 4,378 nm + Gibraltar→Istanbul 1,821 nm = 6,199 nm, PUB.

- Agadir→Alexandria: Agadir→Casablanca 257 nm + Casablanca→Gibraltar 166 nm + Gibraltar→Alexandria 1,822 nm = 2,245 nm, PUB.

- Agadir→Istanbul: 257 + 166 + 1,821 = 2,244 nm, PUB.

If you wish, I can rerun all economics with:

- Your exact address commission (%),

- A specific bunker grade/price at Alexandria (or stem at load/disch),

- Any port cost indications received from your preferred agents.