S&P Global Platts has launched a new daily Time Charter Equivalent (TCE) assessment, says an article published on their website.
Editorial director of S&P Global on launch
“The European tanker market has lacked relevant pricing that reflects the market fundamentals of net daily revenues of crude vessels operating on the key routes in the region. We are pleased to launch these world-first assessments in response to growing interest from market participants wanting transparency on tanker earnings on the main European shipping routes,” says Peter Norfolk, Editorial Director, S&P Global Platts.
The TCE assessments reflect the net daily revenue of vessels operating on key dirty tanker routes in the European shipping market and are published in US dollars/day.
It has been launched for 100kt Baltic-UK Continent, 80kt UK Continent-UK Continent, 80kt Ceyhan-Mediterranean, and 80kt Black Sea-Mediterranean routes.
Platts to publish two sets of TCE
Platts will publish two sets of TCEs for each route:
- One set of TCE is for scrubber-fitted vessels. It reflects the use of 3.5% marine bunker fuel.
- The other one is for non-scrubber fitted vessels. It reflects the use of 0.5% marine bunker fuel.
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Source : SPGlobal