Open AccessComparison of Crude Oil Supply Cost Between Ship Rental and Single Point Mooring
Author(s) -
I Rizkya,
Khalida Syahputri,
R M Sari,
OC Syardhi
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/851/1/012048
Subject(s) - business , procurement , profit (economics) , fuel oil , finance , crack spread , stock (firearms) , crude oil , operations management , waste management , economics , engineering , petroleum engineering , marketing , mechanical engineering , microeconomics
Today, the need for fuel oil and gas are increasing. Fuel oil and gas is the energy needed by the public to support daily activities. To meet the people needs for fuel oil and gas, the company is not only focused on the Indonesian people needs. Production principle carried out is make to stock, so the company makes direct purchase of imported and domestic crude oil and through government entitlement. Currently this fuel oil company has a problem that is quite urgent because the currency value is related to the crude oil procurement. This causes the profit obtained by the company is not optimal. So it needs to be evaluated relates to crude oil procurement policies in the company. As a result, the total costs spent by GP ship rental policy is $ 53.572.938, but by using the SPM (Single Point Mooring) method will save around $ 114.300.205 for 4 years scale or $ 28.575.051 in a year.