SECA Investment Tool
Past fuel prices
Total capital expenditures equal approximatively to the initial price of a scrubber
Annual operating days (Days):
Daily fuel consumption (t):
Life time scrubber (y):
Overall project lifespan
Calc interest (% p.a.):
Other additionnal Costs:
Price HFO (€ / t):
Price MGO (€ / t):
Inflation rate (p.a.):
Additional fuel for scrubber (%):
Additional service for scrubber
Predicted CapEx and OpEx for Vessel
Discount rate [%]:
The Weighted Average Cost of Capital (WACC) is the company's weighted cost of capital that, that includes all capital sources: equity and debts. It proxied by Treasury bonds with a maturity of 10 years in the EU zone. The discount rate is used to comput the present value of the estimated cash flows (i.e. Saving-OpEx or the benefit).
Years to apply:
Indexes and Ratios
The net present value (NPV) is a forward-looking measure of the project profitability; it equals the difference between the present value of the cash flows (the benefit) over the project lifespan and the cost of the investment (i.e. CapEx). The value refelects the difference between the discounted saving-OpEx and CapEx.
The internal rate of return (IRR) is the discount rate that equates the present value of cash flows over theentire project lifespan and the initial cost of the investment (i.e. CapEx).
The Modified Internal Rate of Returns (MIRR) is the average annual rate of return that will be earned on investment if the cash flows (i.e. Saving-OpEx) are reinvested at the WACC (i.e. the dicount rate).
The payback period is the expected number of years required to recover the initial investment (i.e. CapEx).
Profitability Index (PI) metrics the relative profitability of the project to the initial investment cost. It is the ratio of the present value of expected net cash flows over the project’s lifespan to the investment cost.
Scrubber costs per savings:
Average fuel costs of OpEx:
Value-at-risk is a statistical measure of the riskiness of financial entities or portfolios of assets. It is defined as the maximum dollar amount expected to be lost over a given time horizon, at a pre-defined confidence level. For example, if the 95% one-month VAR is $1 million, there is 95% confidence that over the next month the portfolio will not lose more than $1 million.
Cash flow diagram
Monte Carlo simulation histogram
The Monte Carlo method simulates large numbers of scenarios for the portfolio and allows VaR estimation by observing the distribution of the resulting paths.
Overview of past fuel prices
Past fuel prices
AVG: 298.0 STD: 82.4
AVG: 321.0 STD: 79.0
AVG: 462.0 STD: 105.3
AVG: 488.0 STD: 99.3
AVG: 190.0 STD: 29.8
MGO vs HFO Spread VaR Analysis
The SECA Investment Tool tutorial [PDF]