On December 5, 2025, the Company provided an update to its estimated time charter equivalent ("TCE") rate for the fourth quarter of 2025. On a fleet-wide basis, the Company estimates its TCE rate for the fourth quarter of 2025 to be approximately $20,000 per day for approximately 95% of its owned available days for the quarter. The TCE figure is estimated based on both period and spot fixtures for the Company's vessels and is inclusive of scrubber premium. This figure is subject to change based on the closing of our financial results for the quarter, including rates obtained for fixtures for the remaining available days, the timing of voyage revenue and voyage expense recognition in accordance with GAAP reporting standards. The Company also estimates a total of approximately 3,830 owned fleet-wide available days for the fourth quarter of 2025.
Genco's Capesize fleet currently trades entirely in the spot market or on index related time charters. We expect to have eight Capesizes complete their voyages in December and be open to fix in this strong freight rate environment. Of this total, approximately four vessels are expected to ballast to the Atlantic basin. Our estimated TCE rates reflect load-to-discharge voyage accounting in accordance with GAAP, under which revenue for all or a portion of a voyage that was fixed in a given quarter may be recognized in a subsequent quarter. As a result, some revenue from certain fixtures we enter into in the fourth quarter, including certain Brazil to China voyages with long ballast periods, will be recognized in the first quarter of 2026.
On December 5, 2025, the Company provided an update to its estimated time charter equivalent ("TCE") rate for the fourth quarter of 2025. On a fleet-wide basis, the Company estimates its TCE rate for the fourth quarter of 2025 to be approximately $20,000 per day for approximately 95% of its owned available days for the quarter. The TCE figure is estimated based on both period and spot fixtures for the Company's vessels and is inclusive of scrubber premium. This figure is subject to change based on the closing of our financial results for the quarter, including rates obtained for fixtures for the remaining available days, the timing of voyage revenue and voyage expense recognition in accordance with GAAP reporting standards. The Company also estimates a total of approximately 3,830 owned fleet-wide available days for the fourth quarter of 2025.
Genco's Capesize fleet currently trades entirely in the spot market or on index related time charters. We expect to have eight Capesizes complete their voyages in December and be open to fix in this strong freight rate environment. Of this total, approximately four vessels are expected to ballast to the Atlantic basin. Our estimated TCE rates reflect load-to-discharge voyage accounting in accordance with GAAP, under which revenue for all or a portion of a voyage that was fixed in a given quarter may be recognized in a subsequent quarter. As a result, some revenue from certain fixtures we enter into in the fourth quarter, including certain Brazil to China voyages with long ballast periods, will be recognized in the first quarter of 2026.<p>On December 5, 2025, the Company provided an update to its estimated time charter equivalent ("TCE") rate for the fourth quarter of 2025. On a fleet-wide basis, the Company estimates its TCE rate for the fourth quarter of 2025 to be approximately $20,000 per day for approximately 95% of its owned available days for the quarter. The TCE figure is estimated based on both period and spot fixtures for the Company's vessels and is inclusive of scrubber premium. This figure is subject to change based on the closing of our financial results for the quarter, including rates obtained for fixtures for the remaining available days, the timing of voyage revenue and voyage expense recognition in accordance with GAAP reporting standards. The Company also estimates a total of approximately 3,830 owned fleet-wide available days for the fourth quarter of 2025.</p><p>Genco's Capesize fleet currently trades entirely in the spot market or on index related time charters. We expect to have eight Capesizes complete their voyages in December and be open to fix in this strong freight rate environment. Of this total, approximately four vessels are expected to ballast to the Atlantic basin. Our estimated TCE rates reflect load-to-discharge voyage accounting in accordance with GAAP, under which revenue for all or a portion of a voyage that was fixed in a given quarter may be recognized in a subsequent quarter. As a result, some revenue from certain fixtures we enter into in the fourth quarter, including certain Brazil to China voyages with long ballast periods, will be recognized in the first quarter of 2026.</p>