Average TCE for EXM vessels for Q3 will be under $11k per day.
Getting very close to losing money on every vessel every day, on average. This will be 20% lower than the TCE for Q2. All estimates for Q3 need to be adjusted down. Analysts are very lazy and do not keep up with the changes in the industry. They have been saying the bottom is in for three years now. Oooops. Oh, you guys don't know what TCE is, do you?