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Petroleum Devolopments
Volume 41 Issue 10
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* 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, 2014 -2015
(World Scale)*
1-3 Spot Tanker Crude Freight Rates
In July 2015, Freight rates for crude oil for tanker size (230-280 thousand
deadweight tons (dwt)), leaving Middle Eastern ports to the East, increased by
6 points or 9% comparing with previous month to reach 73 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, increased by 2
points or 5.1% comparing with previous month to reach 41 points on the World
Scale (WS), whereas freight rates for inter - Mediterranean for small to medium
sized tankers (80-85 thousand deadweight tons (dwt)), decreased by 39 points
or 29.1% comparing with previous month to reach 95 points on the World Scale
(WS).
Figure (4)
shows the freight rates for crude oil to all three destinations
from July 2014 to July 2015.
1-4 Spot Tanker Product Freight Rates
In July 2015, 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 24 points, or 17% comparing with