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All main topics / Naval Architecture / Marine Transport and Economics / 50 Essential Shipping Terms

Time charter equivalent

The spot freight rate (e.g. $20 per tonne for a 40,000 tonne cargo) converted into a daily hire rate for the voyage (e.g. $20,000 per day) by deducting voyage costs from the gross freight and dividing by the days on the voyage, including necessary ballast time.

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Source: Maritime Economics, 3rd edition

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Flashcard info:

Author: andersson.j

Main topic: Naval Architecture

Topic: Marine Transport and Economics

School / Univ.: Chalmers

City: Gothenburg

Published: 15.10.2009

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