Worldscale
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Worldscale is a unified system of establishing payment of freight rate for a given oiltanker's cargo. Worldscale was established in November 1952 as an average total cost of shipping oil from one port to another by ship. A large table was created. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969, and by 2002 the table included the average cost of 320,000 voyages in permutations of from 1 load and 1 discharge port to 5 loads and 10 discharge ports. Worldscale is produced by Worldscale Association (NYC) Inc. for the Americas and by Worldscale Association (London) Ltd. for the rest of the world. The freight for a given ship and voyage is normally expressed in a percentage of the published rate, and is supposed to reflect the freight market demand at the time of fixing.
Following are some samples.
| From Yokohama to: | US$/tonne | Miles |
|---|---|---|
| Adelaide | 10.60 | 10,574 |
| Aden | 12.39 | 13,038 |
| Chiba | 2.90 | 50 |
In negotiating a price to pay, the above table is referred to as WS100, or 100% of Worldscale. The actual price negotiated between shipowner and charterer can range from 40% to 200% and is referred to respectively as WS40 to WS200 depending on how much loss the first is willing to take on that voyage and how much the later is willing to pay.
[edit] See also
[edit] References
- Evangelista, Joe (2002). "WS50" (PDF). Surveyor (Winter 2002): pp. 10-11. Houston: American Bureau of Shipping.
- Huber, Mark (2001). Tanker operations: a handbook for the person-in-charge (PIC). Cambridge, MD: Cornell Maritime Press. ISBN 0-87033-528-6.
[edit] External links
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