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Volume
44
Issue
1
41
* 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, 2016 -2017
(World Scale)*
1-3 Spot Tanker Crude Freight Rates
In November 2017, Freight rates for crude oil for tanker size (230-280
thousand deadweight tons (dwt)), leaving Middle Eastern ports to the East,
decreased by one point or 1.5% comparing with previous month to reach
67 points on the World Scale (WS*), freight rates for inter - Mediterranean
for small to medium sized tankers (80-85 thousand deadweight tons (dwt)),
decreased by 33 points or 24.4% comparing with previous month to reach
102 points on the World Scale (WS).
And Freight rates for crude oil for tanker size (270-285 thousand
deadweight tons (dwt)), leaving Middle Eastern ports to the West, remained
stable at the same previous month level of 28 points on the World Scale (WS).
Figure (4)
shows the freight rates for crude oil to all three destinations
from November 2016 to November 2017.
1-4 Spot Tanker Product Freight Rates
In November 2017, 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 2 points, or 1.6% comparing
with previous month to reach 126 points on WS.