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Petroleum Devolopments
Volume 41 Issue 12
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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 September 2015, Freight rates for crude oil for tanker size (230-280
thousand deadweight tons (dwt)), leaving Middle Eastern ports to the East,
increased by 16 points or 41% comparing with previous month to reach 55
points on the World Scale (WS*), freight rates for crude oil for tanker size
(270-285 thousand deadweight tons (dwt)), leaving Middle Eastern ports to
the West, increased by 7 points or 26.9% comparing with previous month to
reach 33 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 21 points or 22.3% comparing with previous month
to reach 73 points on the World Scale (WS).
Figure (4)
shows the freight rates for crude oil to all three destinations
from September 2014 to September 2015.
1-4 Spot Tanker Product Freight Rates
In September 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, decreased by 44 points, or 29.3%comparing