Time Charter Equivalent definition

Time Charter Equivalent means an amount calculated by taking voyage revenues, subtracting voyage expense and then dividing the entire total by the total voyage duration in days reflecting delivery and redelivery points per customs of the trade. The time charter equivalent is calculated as:
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Examples of Time Charter Equivalent in a sentence

  • See Appendix 1 for reconciliations of Time Charter Equivalent Revenues to Shipping Revenues.

  • A Time Charter Equivalent rate (“TCE Rate”) is calculated by dividing Net Voyage Revenue by vessel operating days.

  • In the dry bulk industry, it is customary to report revenue on a net basis, also known as a Time Charter Equivalent basis (“TCE Basis”), to enable comparability between differing contract structures.

Related to Time Charter Equivalent

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  • Aggregate Industry Equivalent Unit Score is then calculated for each S&P Industry Classification, shown on Schedule 2, and is equal to the sum of the Equivalent Unit Scores for each issuer in such industry classification group.

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  • Per Share Cash Amount for purposes of this Section 2(b) means an amount equal to the sum of (I) the average of the closing price of the Common Stock for the 20 trading days immediately preceding the date of the Change in Control and (II) any cash dividend payable on a share of Common Stock during the 20 trading-day period described in the foregoing.