Voyage estimate

A pro-forma calculation of a prospective voyage’s economics, run before fixing to decide whether a cargo pays. It builds up the distances and steaming days, port time, bunker consumption and cost, port charges and canal tolls, then subtracts those voyage costs from the freight to give the net daily TCE. Comparing the TCE of competing cargoes, or against the time-charter market, is how a chartering desk picks the next employment.