How do they come out with the numbes in Worldscale (New Worldwide Tanker Nominal Freight Scale)?
Worldscale “Worldscale” refers to the “New Worldwide Tanker Nominal Freight Scale,” an index devised to allow comparison of freight rates for various size tanker routes. The index is jointly sponsored and issued by Worldscale Association (London) Limited and Worldscale Association (NYC) Inc. (together, the “Worldscale Association”). The “Worldscale Rate” for a particular route represents a voyage charter rate for a hypothetical 75,000 dwt tanker for a particular route, with Worldscale 100 representing the break-even cost for such a tanker on a particular route. The Worldscale Rate is not based on actual rates obtained in the market. The Worldscale Association publishes a book of Worldscale Rates for a hypothetical 75,000 dwt tanker on thousands of tanker routes. The Worldscale Rates are calculated in U.S.$ per ton of crude oil and are updated annually to account for changes in port charges and local fuel prices. Worldscale Flat rate Base rates expressed in U.S.$ per ton which apply to
