Question 1

What is TCE (Time Charter Equivalent)?

Accepted Answer

TCE is the standard measure of a vessel's daily earning potential on a voyage. It's calculated by taking the net freight revenue, subtracting voyage costs (bunkers, port costs, canal fees), and dividing by the total voyage days. TCE allows comparison between different voyages regardless of distance or cargo size.

Question 2

How is voyage P&L calculated?

Accepted Answer

Voyage P&L starts with gross freight (cargo quantity x freight rate), subtracts commissions to get net freight, then subtracts all voyage costs including bunker costs (laden, ballast, and port), port charges, canal fees, and other expenses. The result is the voyage profit or loss.

Question 3

What bunker consumption figures should I use?

Accepted Answer

Use the vessel's charter party warranty figures or actual reported consumption. Laden consumption is typically higher than ballast consumption. Port consumption (also called idle or working consumption) is the fuel burn while the vessel is in port loading or discharging.

Question 4

Do I need to create an account to use this calculator?

Accepted Answer

No. The calculator is completely free and works without any login or account. You can save and share your calculations via URL at any time. Optionally, you can provide your email to receive a copy of your calculation.

Question 5

Can I compare multiple voyages?

Accepted Answer

You can open the calculator in multiple browser tabs to compare different voyages side by side. Each tab maintains its own inputs and the URL updates automatically, so you can bookmark or share any calculation.

Question 6

What is address commission?

Accepted Answer

Address commission (also called ADDCOM) is a commission paid to the charterer, separate from the broker's commission. It's expressed as a percentage of freight and reduces the shipowner's net revenue. Both commission and address commission should be entered to calculate the true net freight.

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