TCEs may stablilize as economy recovers from the pandemic
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.