where F and v depict ship fuel consumption rate and ship speed respectively, and a0, a1, a2, and a3 depict regression parameters, which are obtained by least squares regression. In a more recent study17, the Holtrop-Mensen procedure has been calibrated using “statistical samples from model tests, sea trials, or computational fluid dynamics results”17. An alternative to the data–based Holtrop-Menen method15,16 is presented by Bialystocki and Konovessis18, which is based on an algorithm which requires four input parameters of a given ship and voyage, namely, “ship´s draft in the suggested voyage, weather force, weather direction, and date of the fore coming voyage”18. For the ship-voyage pair tested, the variation of ship fuel consumption rate (per unit time) is found to be quadratic with ship speed, namely,