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The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed

Formula: TCE = net revenue / days of voyage Variables like load and discharge rates, a vessel's speed and fuel consumption, and port costs are based on extensive market surveys and can be easily adjusted on feedback from industry participants.

The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed

Time charter equivalent (TCE) is a shipping industry measure used to calculate the average daily revenue performance of a vessel.

Daily Charter Rate means in respect of the Charter Period, a rate calculated in accordance with the formula: Daily Charter Rate = Notional Daily Charter Rate x Actual Owners' Cost Notional MOA Purchase Price.

Time charter equivalent is calculated by taking voyage revenues, subtracting voyage expense, including canal, bunker and port costs, and then dividing the total by the round-trip voyage duration in days.

Platts Time Charter Equivalent (TCE) assessments reflect the net daily revenue of vessels operating on key dry bulk routes across the globe. They are available in the Platts pricing database and in the Dry Freight Wire.