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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.
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 ...
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).
On Friday, Oct. 11, headlines blared of crude-tanker rates topping $300,000 per day, but the reality didn't quite match the initial hype.Those numbers were for conditional deals, known in the ...
TEN Ltd (NYSE: TNP), one of the largest publicly traded owners of tanker tonnage, posted increased quarterly profits as its time-charter strategy allowed it to outearn the spot market and its ...
In 2005, 2.42 billion metric tons of oil were shipped by tanker. [4] 76.7% of this was crude oil, and the rest consisted of refined petroleum products. [4] This amounted to 34.1% of all seaborne trade for the year. [4] Combining the amount carried with the distance it was carried, oil tankers moved 11,705 billion metric-ton-miles of oil in 2005 ...
Fuel tankers earned more than $40,000 a day for the last 14 weeks as a result of strong appetite for fuels and longer trading routes. ... 24/7 Help. For premium support please call: 800-290-4726 ...
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. [2] Due to their favorable size, Aframax tankers can serve most ports in the world.