What does Private and confidential mean in shipping?

Private and confidential

P&C

Meaning

Private and confidential (P&C) means the fixture's rate or details are not to be reported to the market by the brokers involved.

Also written as PNC

Private and confidential explained

Market reports list P&C fixtures with the rate hidden. Charterers use it to keep their freight costs private; owners sometimes agree to it to avoid setting a public benchmark.

Related terms

Fixture
A fixture is a concluded charter: the ship has been “fixed” once owner and charterer have agreed all main terms and lifted any subjects.
Last done
Last done is the rate of the most recent comparable fixture on a route, used as the starting point for negotiating the next one.