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Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969.
The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. [50] In a lump sum rate arrangement, a fixed price is negotiated for the delivery of a specified cargo, and the ship's owner/operator is responsible to pay for all port costs ...
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Starhorse Shipping Lines, Inc. is a domestic shipping company based in Lucena City, Quezon, Philippines.It was established in 2008 by entrepreneur and politician Victor Reyes, who was a former board member in Quezon Province.
Aframax tanker Mitera Marigo. An Aframax vessel is an oil tanker with a deadweight between 80,000 and 120,000 metric tonnes. [1] The term is based on the Average Freight Rate Assessment (AFRA), a tanker rate system created in 1954 by Shell Oil to standardize shipping contract terms.
Wind turbine towers being unloaded at a port Stevedores on a New York dock loading barrels of corn syrup onto a barge on the Hudson River.Photo by Lewis Hine, circa 1912. In shipping, break-bulk, breakbulk, [2] or break bulk cargo, also called general cargo, is goods that are stowed on board ships in individually counted units.
Before any extraction begun, it was estimated that the Alegria oil field had an oil reserve of 27.93 million barrels with a probable production recovery of 3.35 million barrels. The Alegria field is also a natural gas field hosting an estimated 9.42 billion cubic feet of natural gas. It is estimated that the reserves will last until 2037.
Located in the Port Area and Tondo districts of Manila, facing Manila Bay, it is the largest and the premier international shipping gateway to the country. The Philippine Ports Authority, a government-owned corporation, manages the Port of Manila and most of the public ports in the country. It is composed of 3 major facilities, namely Manila ...