Tanker Worldscale index

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Tanker World Scale Index

The worldscale index is a book or online file which is published each year for the calculation of the spot rates in the tanker. It shows the information of carrying each tonne of cargo on round voyage route in the standard vessel. The cost in the book is known as worldscale 100 (W100). If the Owner and charterer negotiated for the W80 mean, it is the 80% of the price of worldscale in that particular round voyage route in a standard vessel. The worldscale index is published by “worldscale Association Ltd” company which comprises of leading tanker broker on the basis of subscription to the owners.

The worldscale is published on the basis of following simple principle:

Daily hire =

Daily Hire = 

WS100 (USD/MT) =

Standard Vessel Assumptions

Total capacity

75000 MT

Average Service speed

14.5 Kts

In Transit Bunker consumption

55 MT/Day

Other Bunker consumption

100 MT / Voyage

Port consumtions

5 MT / Day

Bunker grade

380 CST

Fixed hire element

12000 USD / Day

Port time ( If additional port 12 Hrs extra )

4 days 1:1 ( Including Loading & Unloading)

 

Other Assumtions

Bunker costs – calculated as worldwide average bunker price for 380Cst fuel oil and revised in time period as required. Average of 12 months ending on 30th September prior to schedule effective date.

Port cost – As assessed by worldscale associations based on the information available. Average of 12 months ending on 30th September prior to schedule effective date.

Canal transit time – 24 hrs for panama & 30 hrs for suez transit.

World scale 100 flat rates, W100(USD/MT) =

Where, X = USD12000/Day * (2*Miles/14.4Kts/24Hrs) + 4 Port days + canal time

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