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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.
An oil tanker, also known as a ... Prices rose significantly in 2015 and early 2016, but delivery of new tankers was projected to keep prices in check. [54]
Fuel tankers earned more than $40,000 a day for the last 14 weeks as a result of strong appetite for fuels and longer trading routes.
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.
SINGAPORE/LONDON (Reuters) - Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of ...
"Crude-tanker rates at historic levels!" blared the recent headlines. Lost in the media storm: Spot rates for liquefied natural gas (LNG) carriers are now higher – much higher – than for crude ...
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
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 ...