Chinsay Reduces Transaction Fees
We're announcing a reduction in our transaction fees and a re-structuring of the current pricing model. Transaction fees will be initially reduced by more than 20% on average (for some fixtures up to 66%).
The pricing model is changing in two ways; the pricing tiers are being simplified and the pricing formula is being amended to become easier, more accurate, and a better reflection of market conditions. The simplification also unifies the different tiers for Time Charter and Voyage Charter fixtures.
Please also note that our volume discount model, enabling discount up to 30%, still applies after this price change. In addition, fixtures where none of the counterparties are subscribing Chinsay members (“standalone fixtures”) will still be free of charge.
New Pricing Formulas:
The pricing formulas consist of one fixed part (the base price) and one variable part which is index-linked. This means that if the indices go down, the transaction fees go down with them and vice versa. The variable part, calculated at the beginning of each calendar quarter, is equal to the index change multiplied by a constant of 0.05. Transaction fees will therefore change quarterly where each index change will be calculated as the:
(quarterly average index level for the previous quarter) – (Index Starting Level)
Index starting levels are set to the respective index level on the last published index day of 2015 (24-Dec-2015).
Transaction fees for the period 01-Feb-2016 to 31-Mar-2016 will equal the base prices. Thereafter, transaction fees for subsequent quarters will be adjusted relative to the average index levels over the immediately preceding quarter compared to the index starting levels of 24-Dec-2015.
New TC Pricing – Examples (for illustrative purposes):
New VC Pricing – Examples (for illustrative purposes):
For further information or questions, please contact Chinsay Support on +46 8611 1420 or firstname.lastname@example.org.
Article updated 2016-04-01