TC Rate Market Indices

Calculation overview

When making changes to a TC Rate Market Index - by adding or editing a MarketIndexValue - the following related objects will be recalculated:

• MarketIndexValue

• MarketIndex (validation only)

• MarketIndex

  • Any custom market index that have the market index you are editing of adding a market index value to will be recalculated if all other market indices in the custom market index has been updated today

• TcRate

• TcDuration

• Tc

• Offhire

• Voyage

Recalculation is triggered by a POST or PUT request on the MarketIndexValue endpoint. The scope of objects being recalculated is limited by the validFrom date on the MarketIndexValue; such that, for instance, a voyage that ends before the validFrom date is not recalculated.

DELETE requests do not trigger a recalculation at this time. Validation will still run when deleting, and deleting a market index value for a market index that is part of a custom market index is not allowed.

Workflow

Step 1: Bulk Updating Forward Estimates/Rates

In order to update multiple index values at once, it is recommended to use the BulkUpdateIncrement feature.

While it is possible to trigger all recalculations at once, it is highly recommended to add the header disablebl with value set to true when using the BulkUpdateIncrement feature on MarketIndexValues. This is in order to mitigate calculation costs, and concurrency problems for objects with overlapping.

Example:

https://{host}/ws/rest/MarketIndexValue/bulkUpdateIncrement

[
    {
        "key": 5367743677,
        "marketIndexValue": 10500,
        "validFromDate": "2025-07-10T00:00:00"
    },
    {
        "key": 5367743678,
        "marketIndexValue": 10750,
        "validFromDate": "2025-07-17T00:00:00"
    },
    {
        "key": 5367743732,
        "marketIndexValue": 10600,
        "validFromDate": "2025-08-01T00:00:00"
    }
]

Step 2: Updating todays MarketIndexValue

We can now update todays MarketIndexValue, and trigger a recalculation of all related objects.

Option A: PUT on existing MarketIndexValue

https://{host}/ws/rest/MarketIndexValue/{key}

{
    "marketIndexValue": 10250
}

Option B: POST a new MarketIndexValue

https://{host}/ws/rest/MarketIndexValue

{
    "marketIndex": {marketIndexCode},
    "marketIndexValue": 10400,
    "validFromDate": "2025-07-08T00:00:00"
}