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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 Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
A shipping ton, freight ton, measurement ton or ocean ton is a measure of volume used for shipments of freight in large vehicles, trains or ships. In the USA, it is equivalent to 40 cubic feet (1.1 m 3 ) while in the UK it is 42 cubic feet (1.2 m 3 ).
The charter rate for very large crude carriers, which carry two million barrels of oil, had peaked at $309,601 per day in 2007 but had dropped to $7,085 per day by 2012, far below the operating costs of these ships. [59] As a result, several tanker operators laid up their ships.
Freight carriers utilize the greater of the actual weight or dimensional weight to calculate shipping charges. Dimensional weight is calculated as (length × width × height) / (dimensional factor). Measurements can be made all in inches or all in centimeters, but the appropriate shipping factor must also be used.
Cokaliong Shipping Lines, Inc. (CSLI) is a shipping line based in Cebu City, Philippines. It operates both passenger and cargo ferries on routes in the Visayas and Mindanao regions and is one of the youngest shipping companies in the Philippines .
Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate a cap imposed by the United Nations Security Council, the White House said on Thursday, with new ...
The Philippine peso, also referred to by its Filipino name piso (Philippine English: / ˈ p ɛ s ɔː / PEH-saw, / ˈ p iː-/ PEE-, plural pesos; Filipino: piso [ˈpisɔː, ˈpɪsɔː]; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos.