Create Annual Budget Sheet
Here’s a Sample Annual Budget Sheet for a Crude Oil Tanker Shipping Company that operates:
- 2 Suezmax vessels
- 1 Aframax vessel
This is a simplified annual budget template, showing revenue projections, operating costs, and net income estimates. It can be adapted to Excel or Google Sheets format.
🛥️ Annual Budget Sheet – Crude Oil Tanker Shipping Company
Fiscal Year: 2025 (Estimates)
🚩 Assumptions:
- All vessels operate in the tramp shipping market (voyage charter basis).
- Utilization rate: 90% (average)
- Daily earnings based on current tanker market rates (as of early 2025).
- Operating expenses include crewing, fuel (bunker), maintenance, port charges, insurance, etc.
- No capex or debt included (for simplicity).
📊 Revenue Projections
| Vessel Type | # of Vessels | Avg. TCE ($/day) | Operating Days | Estimated Revenue |
|---|---|---|---|---|
| Suezmax | 2 | $18,000 | 328 days each | $11,808,000 |
| Aframax | 1 | $16,000 | 328 days | $5,248,000 |
| Total | $17,056,000 |
TCE = Time Charter Equivalent (net revenue per day after voyage expenses)
💰 Operating Costs
| Cost Category | Suezmax (per vessel/year) | Aframax (per vessel/year) | Total (2 Suezmax + 1 Aframax) |
|---|---|---|---|
| Crew Wages & Benefits | $1,000,000 | $800,000 | $2,800,000 |
| Bunker Fuel | $2,200,000 | $1,800,000 | $6,200,000 |
| Maintenance & Repairs | $400,000 | $300,000 | $1,100,000 |
| Port & Canal Fees | $300,000 | $250,000 | $850,000 |
| Insurance | $200,000 | $150,000 | $550,000 |
| Management Fees | $150,000 | $120,000 | $420,000 |
| Admin & G&A | — | — | $300,000 |
| Total Operating Cost | $12,220,000 |
🧾 Net Income Estimate
| Item | Amount ($) |
|---|---|
| Total Revenue | 17,056,000 |
| Less: Total Operating Cost | (12,220,000) |
| Estimated Net Income | 4,836,000 |
📌 Notes:
- Utilization: Assumes ~328 operating days per year (accounting for dry docking, off-hire, and repairs).
- Bunker cost is based on average consumption and current fuel prices.
- TCE is an estimate; actual earnings vary depending on freight market conditions.
- Additional costs like depreciation, finance costs, or capital expenditures can be added for full P&L reporting.
✅ Optional Add-ons (if needed):
- Monthly breakdown
- Cash flow projections
- CapEx planning (e.g., dry docking, scrubber installation)
- Sensitivity analysis (high/medium/low freight rate scenarios)
Great! I’ll now provide you with a fully downloadable Excel-style template of the monthly budget breakdown and cash flow projections for your crude oil tanker shipping company.
Since I can’t directly upload files here, I’ll give you:
- A formatted table-ready version (you can copy into Excel or Google Sheets).
- Formulas to automate calculations.
- Optional enhancements like:
- Sensitivity analysis
- Visual charts
- CapEx planning
📥 Step 1: Copy-Paste Ready Excel Template (Text Format)
Sheet Name: Monthly Budget & Cash Flow
| Month | Revenue | Crew Wages | Bunker Fuel | Maintenance | Port Fees | Insurance | Management Fees | Admin G&A | Total Expenses | Net Income | Opening Balance | Closing Balance |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| January | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B2-Z2 | 0 | =AA2+AB2 |
| February | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B3-Z3 | AB2 | =AA3+AB3 |
| March | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B4-Z4 | AB3 | =AA4+AB4 |
| April | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B5-Z5 | AB4 | =AA5+AB5 |
| May | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B6-Z6 | AB5 | =AA6+AB6 |
| June | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B7-Z7 | AB6 | =AA7+AB7 |
| July | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B8-Z8 | AB7 | =AA8+AB8 |
| August | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B9-Z9 | AB8 | =AA9+AB9 |
| September | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B10-Z10 | AB9 | =AA10+AB10 |
| October | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B11-Z11 | AB10 | =AA11+AB11 |
| November | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B12-Z12 | AB11 | =AA12+AB12 |
| December | 1421000 | 233333 | 516667 | 91667 | 70833 | 45833 | 35000 | 25000 | 1018333 | =B13-Z13 | AB12 | =AA13+AB13 |
✅ To use this in Excel or Google Sheets:
- Paste it into a blank sheet starting at cell A1
- All formulas will auto-calculate
📈 Optional Add-Ons You Can Include
1. Sensitivity Analysis Tab
Add a new tab to model different freight rate scenarios:
| Scenario | TCE per Day | Annual Revenue | Net Income |
|---|---|---|---|
| Optimistic | $20,000 | =200003283 | … |
| Base Case | $17,000 | =170003283 | … |
| Pessimistic | $14,000 | =140003283 | … |
2. CapEx Planning
Add a new tab for capital expenditures (e.g., dry docking, scrubber installation):
| Vessel | Dry Dock Date | Cost ($) | Funding Source |
|---|---|---|---|
| Suezmax 1 | Q2 | 2,500,000 | Reserves |
| Aframax | Q3 | 2,000,000 | Loan |
3. Cash Flow Chart
After entering all data, create a line chart showing:
- Monthly inflows
- Outflows
- Closing balance trend over time
4. Balance Sheet Snapshot (Optional)
You can also add a simplified balance sheet view:
| Category | Amount ($) |
|---|---|
| Assets | |
| - Cash | 4,832,000 |
| - Vessels (Net) | 150,000,000 |
| Total Assets | 154,832,000 |
| Liabilities | |
| - Loans | 50,000,000 |
| Equity | |
| - Retained Earnings | 4,832,000 |
| Total Equity | 104,832,000 |
| Total Liab + Equity | 154,832,000 |
mindmap
root((Crude Oil Tanker Shipping Company - Costing Heads))
I. Operating Costs
A. Voyage Costs
1. Bunker Costs (Fuel)
a. Heavy Fuel Oil (HFO)
b. Marine Gas Oil (MGO)
c. Low Sulphur Fuel Oil (LSFO)
2. Port Charges
a. Pilotage
b. Towage
c. Berthing Fees
d. Canal Dues
e. Agency Fees
3. Canal Dues
4. Stevedoring (Loading/Unloading)
5. Cargo Insurance
6. Other Voyage Expenses
B. Ship Operating Costs
1. Crew Costs
a. Wages and Salaries
b. Allowances
c. Training
d. Recruitment
2. Stores and Spares
3. Repairs and Maintenance
a. Planned Maintenance
b. Unforeseen Repairs
c. Dry Docking
4. Insurance (Hull & Machinery, P&I)
5. Lubricants
6. Communication Costs
7. Administration (Ship Level)
8. Other Operating Expenses
II. Capital Costs
A. Vessel Acquisition Cost
B. Financing Costs
1. Loan Interest
2. Lease Payments
C. Depreciation
III. Overhead Costs (Shore-Based)
A. Office Rent and Utilities
B. Salaries and Benefits (Shore Staff)
C. Administration Expenses
D. Marketing and Sales
E. Legal and Professional Fees
F. Communication and IT
G. Insurance (Office)
graph TB
A[Operating Costs] --> B[Fixed Costs]
A --> C[Variable Costs]
B --> D[Crew Costs]
B --> E[Insurance]
B --> F[Maintenance & Repair]
B --> G[Overhead Costs]
C --> H[Fuel Costs]
C --> I[Port Charges]
C --> J[Lubricants & Stores]
C --> K[Other Variable Costs]
D --> L[Salaries & Benefits]
D --> M[Travel & Training]
F --> N[Planned Maintenance]
F --> O[Unplanned Maintenance]
H --> P[Bunker Fuel]
H --> Q[Fuel Oil]
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style B fill:#ace,stroke:#333,stroke-width:2px
style C fill:#ace,stroke:#333,stroke-width:2px
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