Voyage 1: Santos (BR) → Casablanca (MA) — Wheat in bulk, 27,000–33,000 mt (no tolerance stated)

1 suitable vessel

- Handysize geared bulker about 36–39k DWT, 5H/5H, grain cap about 47,900 m3; TTS 22–25 t/m2; scantling draft about 10.5 m; eco-laden about 13 kn on about 17–19 mt VLSFO/day. Example class/particulars: H38/H39 handysize; refs show 38.5k DWT with grain 47,936 m3, TTS 22 t/m2 and eco/service consumptions; and a 36.2k DWT sister with TPC about 50.9 t/cm. 1 (able). ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

2 recommendation for useless space

- Wheat SF taken at upper bound 1.30 m3/mt; at intake below DWCC vessel uses circa 42,600 m3; unused grain cubic about 5,300 m3. Keep grabs/trim allowance minimal, use full holds (no deep tanks), trim by spouts to reduce voids. If available, pick handysize with grain 45–48k m3 to minimize unused space while still meeting intake.

3 best option for users cargo parcel

- Handysize 36–39k DWT is optimal; Supramax/Ultramax would be under‑utilized and more draft‑constrained at CMN. Handysize option is more effective for wheat into Casablanca’s cereal berths depth. ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))

4 vessel’s estimated draught

- On DWCC: about 10.50 m. ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

5 estimated vessels draught on estimated cargo intake

- Basis capacity vs order cap: min(capacity 47,936/1.30=36,873 mt; DWCC≈DWT−5%=36,575 mt; order cap 33,000 mt) → 33,000 mt. Delta cargo = 36,575−33,000=3,575 mt; TPC≈51 t/cm → Δdraft≈70 cm → Estimated draft ≈ 10.50−0.70 = 9.80 m. ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

6 load ports draught limitation

- Santos navigation channel operational drafts up to 14.5 m on high tide along Sections I–IV; berth-specific within that envelope. Use 14.5 m channel constraint as governing. ([proinde.com.br](https://proinde.com.br/news/operational-drafts-in-the-port-of-santos/?utm_source=openai))

7 estimated intake as per loading draught

- No restriction at 9.80 m → 33,000 mt.

8 disch port draught limitation

- Casablanca cereal/mineral berths maximum depth published about 9.75 m (minerals terminal “Profondeur maximale 9,75 m”); port junction to Strait of Gibraltar 166 nm (for routing). ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))

9 estimated intake as per disch draught

- Δdraft = 9.80−9.75 = 0.05 m ≈ 5 cm; Δcargo ≈ 5×51=255 mt → Intake ≈ 33,000−255 ≈ 32,750 mt.

10 estimated intake

- 32,750 mt (governed by CMN draft).

11 steaming days TCT

- Route (PUB distance): Santos → Strait of Gibraltar 4,378 nm, then → Casablanca 166 nm; total 4,544 nm. At 13 kn → about 14.56 days. Source: PUB distances and junctions.

12 steaming days circle voyage

- Casablanca → Strait of Gibraltar 166 nm → Santos 4,378 nm; total 4,544 nm back; circle ≈ 9,088 nm → about 29.13 days at 13 kn.

13 channel expenses

- Strait of Gibraltar: no canal tolls. 0 USD.

14 PDA

- Not available from open tariff in USD for owners’ vessel/port dues; request PDA from local agents (Santos & Casablanca). If needed, cargo-handling tariffs for CMN cereals exist but are stevedoring/terminal costs, not owners’ dues. ([fr.scribd.com](https://fr.scribd.com/document/861874726/Tarifs-Publics-2025-par-Prestation-DTP-Port-de-Casablanca-0?utm_source=openai))

15 days at ports

- Layterms: SSHEX for dry bulk. Working time per port: 32,750/5,000=6.55 WW days. >5 WW days → add 2 weekend days. Add +2 d uncertainty each port. Per port ≈ 6.55+2+2=10.55 d. Total both ports ≈ 21.10 d. Note: Casablanca subject to swell stoppages (WWD) in Oct–Mar that don’t count as laytime. ([fas.usda.gov](https://www.fas.usda.gov/ocean-freight-tenders/search/24-018b?utm_source=openai))

16 bunker price and estimated expenses

- VLSFO price basis load region Santos: about 511 USD/mt (recent Ship&Bunker). Steaming TCT fuel: 4,544 nm @13 kn → 14.56 d × 19 = 276.64 mt. Port fuel: 21.10 d × 5.5 = 116.05 mt.

TCT bunkers ≈ (276.64+116.05)=392.69 mt × 511 ≈ 200,665 USD. Circle bunkers ≈ (29.13 d × 19 = 554.47; +116.05) 670.52 mt × 511 ≈ 342,636 USD. ([coop.shipandbunker.com](https://coop.shipandbunker.com/prices?utm_source=openai))

17 tc rate

- Handysize 38k 1‑year TC about 12,000 USD/day (01 Oct 2025 update). ([handybulk.com](https://www.handybulk.com/ship-charter-rates/?utm_source=openai))

18 tct (discharging port)

- Hire cost to discharge: (steaming 14.56 + ports 21.10)=35.66 d × 12,000 ≈ 427,920 USD.

19 tc for circle

- Hire to redelivery: (steaming 29.13 + ports 21.10)=50.23 d × 12,000 ≈ 602,760 USD.

21 extra insurance

- No war/piracy HRA on Atlantic route BR–MA; extra war premium n/a. 0 USD.

22 total voyage expenses

- TCT: hire 427,920 + bunkers 200,665 + channels 0 + PDA n/a + war 0 = 628,585 USD (ex PDA). Circle: hire 602,760 + bunkers 342,636 = 945,396 USD (ex PDA).

23 freight pmt

- Freight estimate ex PDA:

• TCT ≈ 628,585 / 32,750 ≈ 19.19 USD/mt.

• Circle ≈ 945,396 / 32,750 ≈ 28.86 USD/mt.

Voyage 2: Halifax (CA) → Casablanca (MA) — Wheat in bulk, 27,000–33,000 mt (no tolerance stated)

1 suitable vessel

- Same Handysize geared bulker about 36–39k DWT (as above). 1 (able). ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

2 recommendation for useless space

- Same as Voyage 1; match grain cubic ~45–48k m3 to minimize voids; Halifax berth depths allow full use; constraint remains CMN 9.75 m. ([porthalifax.ca](https://www.porthalifax.ca/facilities/hpa-facilities/ocean-terminals/?utm_source=openai))

3 best option for users cargo parcel

- Handysize 36–39k DWT remains most effective for Halifax–Casablanca given discharge draft constraint. ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))

4 vessel’s estimated draught

- On DWCC: about 10.50 m. ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

5 estimated vessels draught on estimated cargo intake

- Same vessel and cargo cap; estimated (no port limit) intake 33,000 mt → draft ≈ 9.80 m (calc as above). ([reederei-nord.com](https://www.reederei-nord.com/fleet/bulker/bulker-handysize-2/?utm_source=openai))

6 load ports draught limitation

- Halifax cargo quay depths approx 12.2–16.0 m; channel 20 m+; no constraint at 9.80 m. ([porthalifax.ca](https://www.porthalifax.ca/facilities/hpa-facilities/ocean-terminals/?utm_source=openai))

7 estimated intake as per loading draught

- 33,000 mt.

8 disch port draught limitation

- Casablanca cereal/mineral berths max about 9.75 m. ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))

9 estimated intake as per disch draught

- Δdraft as above ≈ 5 cm; Δcargo ≈ 255 mt → Intake ≈ 32,750 mt.

10 estimated intake

- 32,750 mt.

11 steaming days TCT

- Route (PUB distance): Halifax → Ponta Delgada 1,774 nm → Casablanca 915 nm; total 2,689 nm. At 13 kn → about 8.61 days. PUB distances.

12 steaming days circle voyage

- Casablanca → Ponta Delgada 915 nm → Halifax 1,774 nm; circle 5,378 nm → about 17.23 days at 13 kn.

13 channel expenses

- Strait of Gibraltar/Atlantic: no canal tolls. 0 USD.

14 PDA

- Not available from open tariff in USD for owners’ vessel/port dues; request PDA from local agents (Halifax & Casablanca). ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))

15 days at ports

- Same laytime method: per port ≈ 10.55 d; total both ports ≈ 21.10 d (Casablanca swells may pause WWD). ([fas.usda.gov](https://www.fas.usda.gov/ocean-freight-tenders/search/24-018b?utm_source=openai))

16 bunker price and estimated expenses

- VLSFO price basis Halifax region: no free current public quote; using OilMonster Halifax VLSFO 564 USD/mt (last posted) as regional proxy; Maersk BAF average 509.82 USD/mt indicates 2H‑2025 global level. Steaming TCT: 2,689 nm @13 kn → 8.61 d × 19 = 163.59 mt. Port: 21.10 × 5.5 = 116.05 mt.

TCT bunkers ≈ (163.59+116.05)=279.64 mt × 564 ≈ 157,717 USD. Circle ≈ (17.23×19=327.18; +116.05)=443.23 mt × 564 ≈ 249,982 USD. ([oilmonster.com](https://www.oilmonster.com/bunker-fuel-prices/north-america/halifax/466?utm_source=openai))

17 tc rate

- Handysize 38k 1‑year TC about 12,000 USD/day (01 Oct 2025). ([handybulk.com](https://www.handybulk.com/ship-charter-rates/?utm_source=openai))

18 tct (discharging port)

- Hire to discharge: (8.61+21.10)=29.71 d × 12,000 ≈ 356,520 USD.

19 tc for circle

- Hire to redelivery: (17.23+21.10)=38.33 d × 12,000 ≈ 459,960 USD.

21 extra insurance

- No war/piracy HRA on N. Atlantic CA–MA; 0 USD.

22 total voyage expenses

- TCT: hire 356,520 + bunkers 157,717 + channels 0 + PDA n/a + war 0 = 514,237 USD (ex PDA). Circle: hire 459,960 + bunkers 249,982 = 709,942 USD (ex PDA).

23 freight pmt

- Freight estimate ex PDA:

• TCT ≈ 514,237 / 32,750 ≈ 15.70 USD/mt.

• Circle ≈ 709,942 / 32,750 ≈ 21.67 USD/mt.

Notes and assumptions applied (common to both voyages)

- Cargo: Wheat in bulk; SF used at the upper bound 46 cbf/mt → 1.30 m3/mt as per provided agri stowage table.

- Distances and routing strictly per official nautical distances (via junctions when no direct line listed): Santos↔Strait of Gibraltar 4,378 nm; Gibraltar↔Casablanca 166 nm; Halifax↔Ponta Delgada 1,774 nm; Ponta Delgada↔Casablanca 915 nm.

- Vessel data used for intake/TPC/consumptions are representative handysize designs; TPC about 51 t/cm (36k DWT spec); grain cap 47,936 m3; scantling draft ~10.5 m; eco/service consumptions per published specs. ([sale-ships.com](https://sale-ships.com/ads/handysize-bulk-carrier-for-sale-69/?utm_source=openai))

- Port drafts: Santos channel up to 14.5 m on HT; Halifax berths ~12–16 m; Casablanca cereal/mineral berths ~9.75 m. ([proinde.com.br](https://proinde.com.br/news/operational-drafts-in-the-port-of-santos/?utm_source=openai))

- Bunker prices: Santos VLSFO ~511 USD/mt (Ship&Bunker), Halifax regional VLSFO proxy 564 USD/mt (OilMonster last-posted), with global BAF average 509.82 USD/mt as reasonableness check. ([coop.shipandbunker.com](https://coop.shipandbunker.com/prices?utm_source=openai))

- Laytime basis: SSHEX for dry bulk; weekends added per rule when WW days >5; swell stoppage at Casablanca may occur in Oct–Mar per USDA tender clauses. ([fas.usda.gov](https://www.fas.usda.gov/ocean-freight-tenders/search/24-018b?utm_source=openai))

Conclusion

- Technically suitable unit: Handysize 36–39k DWT geared bulker (1). Both voyages are draft‑feasible on load side; discharge is controlling at Casablanca 9.75 m; estimated intake 32,750 mt on both.

- Cost comparison (ex PDA): Halifax route yields lower steaming and hire exposure; indicative freight floor TCT about 15.70 USD/mt (Halifax) versus 19.19 USD/mt (Santos). Circle equivalents are about 21.67 vs 28.86 USD/mt.

- To firm offers: obtain PDAs at Santos and Casablanca; confirm assigned CMN berth depth; confirm vessel’s actual TPC/LWT/constant and grain cubic; then adjust freight indications accordingly. ([marsamaroc.co.ma](https://www.marsamaroc.co.ma/fr/ports-et-terminaux/port-de-casablanca?utm_source=openai))