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Time Charter Equivalent
Expresses average daily earnings per vessel after adjusting voyage revenues for voyage costs, giving a standardized measure of how much a ship earns per day. Comparing TCE to daily expenses shows whether rates cover costs and support profitable operations.TCE has moved from the post‑pandemic trough into a clear upcycle anchored by heavier Capesize exposure, tight newbuilding supply and stronger Chinese demand; management’s high utilization and current fixtures give near‑term visibility to meaningfully higher cash returns and a stepped‑up dividend program if forward rates hold. That upside is amplified by strong operating leverage, but remains exposed to freight volatility, activist costs and near‑term revolver use for fleet deals—so dividend upside is attractive but conditional on the forward curve sustaining.
Date | Time Charter Equivalent |
|---|---|
Jun 30, 2026 | $24.27K |
Mar 31, 2026 | $19.35K |
Dec 31, 2025 | $20.06K |
Sep 30, 2025 | $15.96K |
Jun 30, 2025 | $13.63K |
Mar 31, 2025 | $11.88K |
Dec 31, 2024 | $18.01K |
Sep 30, 2024 | $19.26K |
Jun 30, 2024 | $19.94K |
Mar 31, 2024 | $19.22K |