Note: The Trading module is required to use this feature, so that you have the necessary market data.
- 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
Controls the XML element used to get the index value for market data feeds. Possible tag values:
When enabled, index-linked hire rate is calculated for pricing periods predetermined by hire start time and period length. Pricing periods should not be affected by individual invoicing periods. This configuration should only be enabled when CFGEnableGeneralUnpricedComponent is Y.