Tanker worldscale rates to rise

Nov 21, 1996 01:00 AM

Worldscale shipping rates will rise in January by 6 - 9 % from January 1, the Worldscale Association said in a statement. Worldscale rates are the internationally recognised benchmarks against which the costs of shipping oil and oil products are calculated. Examples include the route from Nigeria's Bonny offshore terminal to Philadelphia, which will rise by 9.7 %, and the route from Sullom Voe to Beaumont on the US east coast, which will rise by 7.9 %. The rates are calculated for 75,000 tonne "standard" vessels, averaging 14.5 knots and consuming 55 metric tonnes of bunker fuel oil.

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