Pricing a Missed Position

Trans-Atlantic time charter equivalent (TCE) rates for clean MR vessels for most of this year were noticeably weaker than those during similar periods of recent years. Both February’s and March’s daily average TCE were below the lowest average TCE in those months during the last five years. Yet in the span of only a few days this week, TCE’s for this route spiked some $12,000 per day to end at just over $34,000 per day on Friday. Download here