TCE Calculator
Work out the Time Charter Equivalent of a voyage in USD per day: net freight after address and brokerage commissions, less bunkers and port costs, divided by voyage days.
Fill in the voyage figures to see the TCE.
How TCE is calculated
TCE converts voyage-charter earnings into a daily rate comparable with time-charter rates, so owners and charterers can compare employment options like for like:
- Net freight = gross freight x (1 - (address % + brokerage %) / 100)
- Total voyage cost = (bunker cost per day x voyage days) + port and canal costs
- TCE (USD/day) = (net freight - total voyage cost) / voyage days
Voyage days include both the laden and ballast legs. A TCE below the vessel's daily operating cost means the voyage loses money even before capital costs.
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Results are indicative only and do not constitute financial, chartering or legal advice. Verify against your charter party terms and current market data.