Shipping Vessels Portfolio Financial Model (Excel XLSX)

Ships, boats and other recreational vessels are owned by a large number of individuals who often purchase them as assets. Usually they do not use these vessels for shipping goods or for ferrying passengers, instead they often lend them out to third party organizations who use them for a variety of purposes. In maritime legal terms, this lending process is known as chartering.

This Financial Model presents an investment scenario of a Shipping Vessels Portfolio including a fleet of up to 20 Ships, which are purchased and then leased using a Time Charter Method.

A time charter is a time-bound agreement under which the shipowner leases a vessel to a charterer for a fixed period of time, and they are free to sail to any port and transport any cargo. Under a Time Charter agreement, the charterer controls the ship but the maintenance of the vessel falls under the purview of the owner.

The model includes purchase and disposition assumptions for up to 20 ships, financing assumptions (Debt & Equity Share), Operating Assumptions (Time Charter Fee, Operating Expenses and Ships Service Costs) and portfolio valuation assumptions.

Outputs of the model include Financing Debt Schedules, Ships Quarterly Operations Analysis, Quarterly and Annual Cash Flow per Ship, Total Portfolio Annual Cash Flow & Returns, Partnerships Cash Flow and a professional Executive Summary presenting portfolio performance and key metrics.

The structure of the template follows Financial Modeling Best Practices principles and is fully customizable.

Inputs:
•  Portfolio and Reporting Assumptions including Timing, Partnership Distribution, Portfolio Expenses (Asset Management Fees, ships Purchase & Disposition Fees)
•  Ships Portfolio supporting up to 20 different ships (incl. Ship type, LDT, etc.)
•  Ships Acquisition & Disposition Assumptions (Purchase Price, Closing Fees, Ship Life, Scrap Price, Selling Costs)
•  Ships Revenue & Costs Assumptions (Time Charter Fee, Operating Expenses, Dry Dock & Special Surveys Timing and Costs)
•  Financing Assumptions per Ship (Loan to Value, Interest Only period, Interest Rates, Loan Term, Lender Fees)

Outputs:
•  Debt Schedule per Ship
•  Operations Analysis per Ship (Timing, Revenue, Opex, Service Costs, Net Cash Flow)
•  Quarterly Cash Flow per Ship including Acquisition, Operating Cash Flow, Debt Service, Cash Proceeds from Ship Sale and Unlevered and Levered Cash Flow
•  Annual Cash Flow & Returns per Ship (roll up of quarterly cash flow into annual periods used to evaluate the overall investment of each ship)
•  Portfolio Annual Cash Flows (Unlevered, Levered) & Returns (IRR, MOIC)
•  Partnership Cash Flows (a standard 4-tier IRR hurdle waterfall model to distribute proceeds between investors)
•  Executive Summary presenting portfolio performance and key metrics.

Detailed instructions on the use of the model are included in the Excel file.

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