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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.
U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil ...
The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. [50] In a lump sum rate arrangement, a fixed price is negotiated for the delivery of a specified cargo, and the ship's owner/operator is responsible to pay for all port costs ...
Its international community of 650 member companies encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic Exchange: [2] its members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.
The company – led by chief executive officer Nikolas Tsakos of the Tsakos shipping family of Greece – owns a diversified fleet of 68 tankers with an aggregate capacity of 7.5 million ...
Baltic Dry Index 1985 - 2022. The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange.The BDI is a composite of the Capesize, Panamax and Supramax timecharter averages.