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The TCE and Bunker price from the multi-cargo Benchmark Estimate are used for the M2M valuation the same way it is used for the standard Benchmark Estimate. The bunker tonnage and the voyage days are prorated out to the Cargoes based on the CP quantities.

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• Exposure details are synced across linked Cargoes.

• Changing any of the following synced fields on the Exposure tab of a linked Cargo updates the other linked Cargoes:

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  • Exposure Basis Month

  • Strategy

  • Overriding TCE

  • Bunker Estimate grid

  • Bunker Exposure Breakdown grid

• Changing any of the following fields on a linked Cargo breaks the link; when it is broken, it cannot be restored. The Cargoes must be re-created from the Benchmark Estimate to reestablish the link.

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  • Initial Estimate

  • Exposure Method

  • Benchmark M2M Basis

  • Use Benchmark Adjustment Table

• If one linked Cargo is removed, the link with the other Cargoes remains.

• A multi-cargo Benchmark Estimate can only be selected from the Exposure tab if the Cargo is linked to the multi-cargo benchmark estimate through the Benchmark Link ID.

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The following workflow describes how a trader can create a Cargo using a Voyage Estimate and link them so that the Mark-to-Market of the Cargo is using that Estimate.

1. Create a Voyage Estimate. 
   Note: The vessel does not need to be the actual vessel that will perform the Cargo contract. In many cases, traders will use standard benchmark vessels and standard ballasting positions for this stage.

2. On the Voyage Estimate:

   1. Select the Benchmark check box at the top right of the form. The Fix Contract button appears on the toolbar.

   2. Click Image Modified and then click Fix Cargo. A Cargo contract is created with the information from the CP Terms Details form.

3. On the the Cargo Exposure tab of the Cargo contract, the :

   1. The Exposure Method is set to Benchmark Estimate by default, and the Voyage Estimate that generated the Cargo is linked there.

   On the Exposure tab of the Cargo, set

   1. Set the TC Route, Correlation, and Benchmark Bunker Curve.

4. If you want to use a different Benchmark Estimate at a later stage to evaluate the Cargo Exposure more accurately, you can insert a new line and select a different Estimate in the Benchmark Estimate table.

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