Time-Charter Equivalent (TCE) - Voyage
Voyage time-charter equivalent: (freight − voyage costs) / total voyage days - the comparable benchmark for fixing decisions.
Net freight
1,732,500USD
Voyage earnings
1,112,500USD
TCE
34,766USD/day
Formula, assumptions, and limits
TCE compared against prevailing time-charter rates for the segment/route. Falling TCE vs T/C alternative → fix out T/C; rising TCE → stay in voyage market.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| Gross freight | USD | voyage fixture | |
| Commission | - | broker agreement | |
| Voyage-related costs | USD | voy DA | |
| Total days (laden + ballast + port) | days | voyage plan |