KAJIAN DIRECT OPERATING COST (DOC) SEBAGAI DASAR PEMBENTUKAN TIME CHARTER EQUIVALENT (TCE) KAPAL MT. XYZ PADA RUTE PELAYARAN REGIONAL EROPA

Abstract

Direct Operating Cost (DOC) efficiency is a key factor in maintaining the economic competitiveness of tanker vessels in the voyage charter market. This study aims to analyze the role of DOC components in determining the daily Time Charter Equivalent (TCE) value of MT. XYZ on European regional shipping routes throughout 2025, as well as to identify operational factors causing financial deviations from market benchmarks. The research method used is a descriptive qualitative case study by processing operational data from 20 voyages. Data collection techniques were carried out through documentation of voyage reports, daily financial reports, observation, and interviews with the Operations Division of PT Buana Lintas Lautan Tbk. The results indicate that the deviation of DOC components acts as a direct deduction from revenue, which affects the Time Charter Equivalent value against market competitiveness. Port Costs (EPDA) emerged as the largest expenditure burden, contributing 54.42%, followed by Marine Diesel Oil/MDO (22.82%) and Marine Fuel Oil/MFO (19.37%). Variance analysis using a fishbone diagram identified that DOC inflation and TCE reduction against market competitiveness standards were significantly driven by Machine factors, specifically high MDO consumption during maneuvering, as well as idle time due to congestion in the Turkish

Straits and high Georgia port tariffs. The study concludes that controlling daily non- productive operational duration and optimizing voyage planning are requirements to

minimize cost deviations. Operational recommendations focus on standardizing voyage budget preparation per similar routes, as well as using demurrage protection clauses within the charter party contract.