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Volume
44
Issue
7
15
* World Scale is a method for calculating freight prices. One point for the WS means 1% of the
standard price of freight in the direction in the WS book, which is published annually by the World
Scale Association. The book contains a list of prices in the form of US dollar per ton, called “World
Scale 100,” for all the major routes in the world.
Figure - 4
Monthly Spot Crude Oil Tanker Freight Rates, 2017 -2018
(World Scale)*
1-3 Spot Tanker Crude Freight Rates
In May 2018, Freight rates for crude oil for tanker size (230-280 thousand
deadweight tons (dwt)), leaving Middle Eastern ports to the East, increased by 3
points or 7.3% comparing with previous month to reach 44 points on the World
Scale (WS*), freight rates for inter - Mediterranean for small to medium sized
tankers (80-85 thousand deadweight tons (dwt)), also increased by 30 points or
37.5% comparing with previous month to reach 110 points on the World Scale (WS).
Whereas freight rates for crude oil for tanker size (270-285 thousand deadweight
tons (dwt)), leaving Middle Eastern ports to the West, decreased by one point or 5%
comparing with previous month to reach 19 points on the World Scale (WS).
Figure (4)
shows the freight rates for crude oil to all three destinations fromMay
2017 to May 2018.
1-4 Spot Tanker Product Freight Rates
In May 2018, monthly spot Tanker freight rates for petroleum products [for
tanker size 30-35 thousand deadweight tons (dwt)], leaving Middle Eastern ports
to the East, increased by 3 points, or 2.7% comparing with previous month to reach
113 points on WS.