Organization of Arab Petroleum Exporting Countries
Petroleum
Devolopments
Volume 40 Issue 5
27
* 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, 2013 -2014
(World Scale)*
1-3 Spot Tanker Crude Freight Rates
In February 2014, 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 1.8% comparing with previous month to reach 56
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, decreased by one point
or 2.8% comparing with previous month to reach 35 points on the World Scale
(WS), and freight rates for inter - Mediterranean for small to medium sized
tankers (80-85 thousand deadweight tons (dwt)), decreased by 87 points or
50.6% comparing with previous month to reach 85 points on the World Scale
(WS).
Figure (4)
shows the freight rates for crude oil to all three destinations
from February 2013 to February 2014.
1-4 Spot Tanker Product Freight Rates
In February 2014, 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 12 points or 13.3% comparing
with previous month to reach 102 points on WS.
