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It is the best of times; it is the worst of times. Just as spot freight rates for supertankers have reached epic new heights, crude-tanker stocks are plummeting.Rates for very large crude carriers ...
Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969.
An Aframax vessel is an oil tanker with a deadweight between 80,000 and 120,000 metric tonnes. [1] The term is based on the Average Freight Rate Assessment (AFRA), a tanker rate system created in 1954 by Shell Oil to standardize shipping contract terms. [2] Due to their favorable size, Aframax tankers can serve most ports in the world.
A surge in demand to ship the flood of crude oil unleashed by Saudi Arabia and its OPEC peers is sending freight rates surging and forcing buyers to seek out space on smaller tankers with the ...
Oil tanker freight cost rates could be highly volatile, due to circular dependence on fuel oil prices and ultimately crude prices, to demand for oil tankers to serve non-USGC non-North-Sea trade routes (especially to China), and to demand for using oil tankers as floating storage for crude oil. From 2000 to 2009, oil tanker freight rates ...
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