Cargoes
One record per cargo, with its documents.
- Terminal, date, lifter and product
- Bill of lading quantity
- Ship figures, and the quantity on board or remaining on board
- Outturn at discharge
COMMERCIAL
Liftings and nominations
Each cargo recorded once, with its bill of lading, ship figures and outturn, and posted to the lifter’s stock and lifting balance. The vessel experience factor is worked out from the ship’s own voyage history.
First-release scope. This page describes what the first release of Converge HCA covers. Book a demo to see what is ready today.
Nominations and the lifting programme (cargo size, tolerance and the order of lifters by balance) are planned for the release after the first.
WHAT IT DOES
A cargo, its paperwork and its effect on every balance
A lifting moves crude from terminal stock to a lifter. Converge HCA records the cargo: terminal, date, lifter, bill of lading quantity, ship figures before and after loading, the quantity on board before loading or remaining on board, and the outturn at discharge. The lifting reduces the lifter’s terminal stock and counts against its entitlement.
The vessel experience factor compares a ship’s figures with shore figures over its past voyages. Converge HCA leaves out gross errors beyond ±2% and voyages more than ±0.3% from the mean, needs at least five qualifying voyages, and rounds the factor to four decimals before correcting the ship figure with it.
In the first release
- Cargo records
- Bills of lading
- Ship figures and outturn
- Vessel experience factor
- On-board and remaining-on-board quantities
- Liftings posted to the lifter’s terminal stock
- Liftings counted against entitlement
KEY CAPABILITIES
Cargoes, ship figures and balances
Vessel experience factor
The ship’s figures, corrected by its history.
- Gross errors beyond ±2% left out
- Voyages more than ±0.3% from the mean left out
- At least five qualifying voyages
- Factor rounded to four decimals; ship figure divided by it
Balances
Every cargo moves two balances.
- The lifter’s terminal stock goes down
- The lifted volume counts against the lifter’s entitlement
- Overlift and underlift updated with each cargo
Planned: nominations and lifting programme
In the release after the first.
- Partner nominations for each period, with tolerance
- Lifting programme: cargo size, tolerance and the order of lifters by balance
WORKFLOW
From loading to the partner balance
Record the cargo
Terminal, date, lifter, product and bill of lading.
Add the ship figures
Figures before and after loading, and the quantity already on board.
Apply the experience factor
The ship figure corrected by the vessel’s own history.
Post the lifting
Lifter stock down, lifted volume against entitlement.
Record the outturn
The quantity delivered at discharge, kept with the cargo.
Reconcile
Terminal stock against liftings in the month-end close.
CONNECTED MODULES
Where cargo records go
- Inventory and terminalsLiftings come out of the lifter’s terminal stock.
- Entitlement and overlift/underliftLifted volumes set each partner’s balance.
- Month-end close and controlsTerminal-to-liftings is one of the standard reconciliations.
- Regulatory reportingLifting figures come from the locked period.
FAQ
Liftings and nominations: common questions
Are nominations in the first release?
No. Nominations and the lifting programme are planned for the release after the first. The first release records cargoes and their effect on stock and entitlement.
How is the vessel experience factor calculated?
From the ship’s past voyages: gross errors beyond ±2% and voyages more than ±0.3% from the mean are left out, at least five qualifying voyages are needed, and the factor is rounded to four decimals.
Where do liftings show up in the close?
In the terminal-to-liftings reconciliation, and in each partner’s entitlement and overlift or underlift balance for the period.