Time-Charter Equivalent (TCE) - Voyage

Voyage time-charter equivalent: (freight − voyage costs) / total voyage days - the comparable benchmark for fixing decisions.

TCEVoyageCharter

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This calculator requires JavaScript to compute its result. The formula, symbols, and regulatory sources are shown in the Formula section below.

Formula, assumptions, and limits

\text{TCE} = \frac{F \cdot (1 - c) - C_{voy}}{D}

Symbol	Meaning	Unit
$F$	Gross freight	USD
$c$	Commission
$C_{voy}$	Voyage-related costs	USD
$D$	Total days (laden + ballast + port)	days

Source: Clarksons Research - Shipping Intelligence

Voyage time-charter equivalent: (freight \u2212 voyage costs) / total voyage days - the comparable benchmark for fixing decisions.