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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.
In some cases, a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, the freight rate.Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers).
MV Transpacific (2006 - 2012), also known as Bonito (2002 - 2006), also known as Turcas II (2001 - 2002), also known as Nikolay Shalavin (2001) [1] is an oil tanker under long-term charter to the United States Military Sealift Command (MSC). [3] As part of MSC's Sealift Program, the Transpacific transports fuel for the U.S. Department of ...
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Tanker brokers similarly negotiate maritime contracts, known as charter parties. The main terms of negotiation are freight/hire and demurrage. Oil being a fast moving trade, freight rates for crude oil tanker charters are most commonly based on the Worldscale Index; the Worldscale Association publishes flat rates annually. [3]
Saudi Arabia was not bluffing when it said it would focus on crude-oil market share. New tanker charter contracts at extremely high rates confirm that a large wave of Saudi oil is definitely en ...
In 2005, oil tankers made up 36.9% of the world's fleet in terms of deadweight tonnage. [61] The world's total oil tankers deadweight tonnage has increased from 326.1 million DWT in 1970 to 960.0 million DWT in 2005. [61] The combined deadweight tonnage of oil tankers and bulk carriers, represents 72.9% of the world's fleet. [62]
Eagle S is a crude oil and oil products tanker with a deadweight tonnage of 74,035 tonnes (72,866 long tons) and 12 cargo tanks that have a combined volumetric capacity of 81,320 cubic metres (511,500 bbl) at 98% filling. The ship is 228.6 metres (750 ft 0 in) long, 32.3 metres (106 ft 0 in) wide, and has a displacement of 89,381 tonnes (87,969 ...