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(*) ELENI P is employed in the Baumarine spot pool that is managed by Klaveness, a major global charterer in the drybulk market.
Summary Fleet Data:
3 months, 3 months, Year Year ended ended ended ended December December December December 31, 2011 31, 2012 31, 2011 31, 2012 --------- --------- --------- ---------FLEET DATAAverage number of vessels (1) 16.00 15.00 16.00 15.21Calendar days for fleet (2) 1,472.0 1,380.0 5,840.0 5,566.0Scheduled off-hire days incl. laid-up (3) 29.4 28.8 139.6 44.9Available days for fleet (4) = (2) - (3) 1,442.6 1,351.2 5,700.4 5,521.1Commercial off-hire days (5) 136.8 2.6 184.8 208.4Operational off-hire days (6) 6.4 11.8 18.8 33.1Voyage days for fleet (7) = (4) - (5) - (6) 1,299.4 1,336.8 5,496.8 5,279.7Fleet utilization (8) = (7) / (4) 90.1% 98.9% 96.4% 95.6%Fleet utilization, commercial (9) = ((4) - (5)) / (4) 90.5% 99.8% 96.8% 96.2%Fleet utilization, operational (10) = ((4) - (6)) / (4) 99.6% 99.1% 99.7% 99.4%AVERAGE DAILY RESULTSTime charter equivalent rate (11) 12,099 9,510 11,525 10,155Vessel operating expenses excl. drydocking expenses (12) 5,242 5,381 5,490 5,401General and administrative expenses (13) 524 654 511 658Total vessel operating expenses (14) 5,766 6,035 6,001 6,058 --------- --------- --------- ---------Drydocking expenses (15) 213 611 539 290 --------- --------- --------- ---------
(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.
(5) Commercial off-hire days. We define commercial off-hire days as days waiting to find employment.
