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Note: The Trading module is required to use this feature, so that you have the necessary market data.
On the TC In/Out Pricing tab, do the following:
- Add a row to the hire grid and then set its Rate Type to Index to assign the Hire Rate according to the Market Rate, as imported from the Baltic (which can be seen in the Market Rate column in the Trade Details list).
- Right-click the hire line and then click Index Option.
- On the Index Option form, you can enter the Market, the Route used for the Time Charter, the Adjustment (as a percentage and/or a Lumpsum Offset), a Floor and Ceiling (in $/day), and a Billing Method. The Billing Method can be the average of the billing period, average of the prior period, or the prior spot rate.
Examples for Adjustment:
- Adjustment Percentage: If Market Hire Rate = 1,000/day, and % = 70, new Hire Rate = 700 (70% of 1,000)
- Lumpsum Offset: If Market Hire Rate = 1,000/day, and Lumpsum Offset = 70, new Hire Rate = 1,070/day