TCEs may stablilize as economy recovers from the pandemic
20 November 2020
Eastport 19.9kDWT TCE index against surveyed 1Y TC rate
The Eastport 19.9kDWT TCE index measures the theoretical profitability of a 5-year-old stainless steel (STST) tanker carrying bulk chemicals on a typical SE Asia/NE Asia voyage and acids as backhaul cargos, which require STST tanks due to their corrosive properties. TCEs inched up 2% MoM in early November. Singapore bunker prices fell 6% MoM in the same period while freight revenues were unchanged. For more TCE calculations, please refer to the latest issue of Show Me The Money.