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(*) Dates indicate earliest re-delivery of the vessels
Summary Fleet Data:
---------------------------------------------------------------------------- 3 months, 3 months, 9 months, 9 months, ended ended ended ended September September September September 30, 2011 30, 2012 30, 2011 30, 2012----------------------------------------------------------------------------FLEET DATAAverage number of vessels (1) 16.00 15.00 16.00 15.28Calendar days for fleet (2) 1,472.0 1,380.0 4,368.0 4,186.0Scheduled off-hire days incl. laid-up (3) 25.5 13.1 110.2 16.1Available days for fleet (4) = (2) - (3) 1,446.5 1,366.9 4,257.8 4,169.9Commercial off-hire days (5) - 13.5 48.0 205.8Operational off-hire days (6) 4.5 6.6 12.4 21.2Voyage days for fleet (7) = (4) - (5) - (6) 1,442.0 1,346.8 4,197.4 3,942.9Fleet utilization (8) = (7) / (4) 99.7% 98.5% 98.6% 94.6%Fleet utilization, commercial (9) = ((4) - (5)) / (4) 100.0% 99.0% 98.9% 95.1%Fleet utilization, operational (10) = ((4) - (6)) / (4) 99.7% 99.5% 99.7% 99.5%AVERAGE DAILY RESULTSTime charter equivalent rate (11) 11,633 10,246 11,356 10,373Vessel operating expenses excl. drydocking expenses (12) 5,805 5,491 5,573 5,407General and administrative expenses (13) 429 653 507 659Total vessel operating expenses (14) 6,234 6,144 6,080 6,066----------------------------------------------------------------------------Drydocking expenses (15) 377 238 648 184----------------------------------------------------------------------------
(1) Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of calendar days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.
(2) Calendar days. We define calendar days as the total number of days in a period during which each vessel in our fleet was in our possession including off-hire days associated with major repairs, drydockings or special or intermediate surveys or days of vessels in lay-up. Calendar days are an indicator of the size of our fleet over a period and affect both the amount of revenues and the amount of expenses that we record during that period.
(3) The scheduled off-hire days including vessels laid-up are days associated with scheduled repairs, drydockings or special or intermediate surveys or days of vessels in lay-up. We use available days to measure the number of days in a period during which vessels were available to generate revenues.
(4) Available days. We define available days as the total number of days in a period during which each vessel in our fleet was in our possession net of scheduled off-hire days including days of vessels laid-up.
