- Worldscale
Worldscale is a unified system of establishing payment of freight rate for a given oiltanker's cargo. Worldscale was established in November 1952 as an average total cost of shipping oil from one port to another by ship. A large table was created. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969, and by 2002 the table included the average cost of 320,000 voyages in permutations of from 1 load and 1 discharge port to 5 loads and 10 discharge ports. Worldscale is produced by Worldscale Association (NYC) Inc. for the Americas and by Worldscale Association (London) Ltd. for the rest of the world. The freight for a given ship and voyage is normally expressed in a percentage of the published rate, and is supposed to reflect the freight market demand at the time of fixing.
Following are some samples.
In negotiating a price to pay, the above table is referred to as WS100, or 100% of Worldscale. The actual price negotiated between shipowner and charterer can range from 40% to 200% and is referred to respectively as WS40 to WS200 depending on how much loss the first is willing to take on that voyage and how much the latter is willing to pay.
ee also
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Oil tanker
*Ship transport
*Affreightment
*Chartering (shipping) References
*cite journal
quotes =
author = Evangelista, Joe
date =
year = 2002
month =
title = WS50
journal = Surveyor
volume =
issue = Winter 2002
pages = pp. 10-11
publisher = American Bureau of Shipping
location = Houston
issn =
pmid =
doi =
bibcode =
oclc =
id =
url = http://www.eagle.org/NEWS/pubs/pdfs/SurveyorWinter02.pdf
language =
format = PDF
accessdate =
laysummary =
laysource =
laydate =
quote =
*cite book |first=Mark| last=Huber |title=Tanker operations: a handbook for the person-in-charge (PIC) |publisher=Cornell Maritime Press |location=Cambridge, MD |year=2001 |pages= |isbn=0-87033-528-6 |oclc= |doi=External links
* [http://www.worldscale.co.uk/ Worldscale Association website]
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