Rising Bunker Prices To Push Worldscale Rates Up

Friday, November 19, 1999
Increasing bunker prices will push Worldscale tanker rates up by around 1.5 percent next year but prices on some routes will fall due to lower port dues and exchange rate fluctuations, the Worldscale Association said. The average bunker fuel price used for rate calculations would rise to $86.50 in 2000, from $82.75 in 1999, but varying port charges and currency exchange rates would mean some Worldscale route assessments fell. Bunker prices have soared this year to around a current $130 a ton from about $55 in February, but the Worldscale assessment is based on an average of the period between October 1998 and the end of September 1999. Worldscale tanker rates from Ras Tanura to Yokohama will rise by as much as 2.8 percent but for Rotterdam by only 1.0 percent, 1.2 percent for the Loop Terminal in the U.S. Gulf and 0.4 percent to Lavera in the Mediterranean. Meanwhile rates from Es Sider in Libya to Rotterdam will fall by 3.7 percent and for Sullom Voe to the Dutch port by 1.3 percent.
Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0830 sec (12 req/sec)