VIP - Trading P&L Summary

The Trading P&L Summary is the main dashboard for most Trading users, forming the core of the Trading module. It is a summary of the overall paper and physical positions and displays all types of contracts: Bunker Swap, FFA, Cargo, Cargo Option, Cargo COA, Cargo COA Option, VC In, VC In Option, VC In COA, VC In COA Option, TC In, TC In Option, TC In Min/Max, TC Out, TC Out Option, and TC Out Min/Max. It gives you a way to mark-to-market each of the positions in your portfolio against the price curve.

To access the Trading P&L Summary, do one of the following:

• On the main menu , under Trading, click Exposure.
• In the Trading quick links, click .

Columns

• Vessel Type
• Contract
• Trade Area
• Index and Data for Period

Applying Filters and Groupings

The Parameters panel enables you to apply filters and groupings to the Trading P&L Summary.

It is open by default. To close, it click ; to open it, click .

• Calculation Options:
  • Reference Date: The Trading P&L Summary includes data from this date forward.
  • Profile (editable for Current snapshots only): Select a Trading Profile to determine the Exposure settings and configurations.
  • Snapshot: Select Current for the most up-to-date data with recalculated values, or retrieve a Snapshot from the past two months that includes values as they were calculated based on the Profile selected at the time the snapshot was taken. For more details on Snapshots, see Trading P and L Snapshots.
• Display Options:
  • Filter: Select a Filter.
  • Period: Monthly, Quarterly, or Annually. This sets the size of the time buckets in which the Trading P&L Summary aggregates contracts and related values.
  • Groupings: Select up to three to group together: Contract, Counterparty, Parent Contract, LOB, Short/Long, Strategy, Trade Area, Vessel, Vessel Type, and Vessel Fleet.
    Contract Types are Bunker Swap, Cargo COA, Cargo COA Option, Cargo, Cargo Option, FFA, Own Vessel, TC In, TC In Min/Max, TC In Option, TC Out, TC Out Min/Max, TC Out Option, VC In, VC In Option, VC In COA, and VC In COA Option.
• Show: Click  to expand this section and then select check boxes.
  • Exposure Days: Number of exposure days for the Period.
  • Weighted Days: Adjusted, based on:
    • The Weighted Days Correlation specified on the Vessel Types form from the Data Center
    • For Time Charter In contracts and Head Fixtures, the number of days specified in the Unavailable Days table on the Exposure tab.

  • Exposure Tons: Exposure in tonnage, either the cargo or vessel size.
    
    

     How Are Exposure Tons Calculated for TCI?

    • Exposure tons are calculated using the following:
      • TC Vessel Deadweight
      • Region Turnover Ratio (The number of voyages in the region that the ship could be expected to perform over a month; defaults to 1, but can be defined in Trade Areas).
      • TC days in the period
    • Example calculation:
      • 30K MT DWT ship is TCed in for 15 days in a month of 30 days into SE Asia, where 2 voyages are expect to be done in 30 days
      • 30K MT * (15 days TC/30 days in month) * 2 voyages/mo = 30K MT exposure tons
  • Bunker Tons: Exposure to the bunker market, in tonnage. For bunker contracts, this is the contract quantity. For freight contracts, it is the estimated or projected quantity.
  • Bunker Exposure: The unrealized P&L that relates to the exposure on the Bunker Market.
  • TC Exposure: The unrealized P&L that relates to the exposure on the Freight Market.
  • Net Exposure: The sum of Bunker Exposure and TC Exposure.
  • TCE: The TCE of the contract, calculated using the Exposure Days and the market prices.
  • Long TCE: The weighted average of TCE, with the Exposure Days for only the Long positions.
  • Short TCE: The weighted average of TCE, with the Exposure Days for only the Short positions.
  • Contract TCE: The TCE, either the contract TC rate or the calculated TCE using estimated or projected bunker prices from the contract. This is in contrast to the TCE value, where the calculation is done using the market bunker rates.
  • Exposure Count: The number of contracts that have exposure in this period. Next to the count, click the Details link to open the Trade Details List.
  • Fixed: The estimated Voyage P&L for contracts with Fixed status. Exposure is locked in.
  • Sailed: The (estimated) actual Voyage P&L for contracts with Sailed status. Exposure is locked in.
  • Unrealized P&L: The amount that has not been settled.
  • Realized P&L: The amount that has been settled.
  • Net P&L: The sum of Net Exposure plus Fixed and Sailed amounts.
  • Net Count: The number of unsettled contracts for this period. Next to the count, click the Details link to open the Trade Details list.

After changing parameters, click .

Trading P&L Summary Report

To export the current view of the Trading P&L Summary as a report, in the upper-right corner, click .