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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0730 sec (14 req/sec)