Worldscale & Markets Committee

Aims and objectives

  • To address commercial challenges faced by Members
  • To address the issue of late freight and demurrage payments, discuss the data in INTERTANKO’s Payments |Performance System (PPS) and assist in preparing a priority list for Secretariat action/visits to charterers.
  • To identify commercial/chartering implications in tanker issues (such as ballast water management, piracy, bills of lading) and work with the Documentary Committee to suggest how best to handle them.
  • To assist Members in their understanding of the Worldscale system.
  • To keep under review the Schedule of Nominal Freight Rates published by the Worldscale Association (WA) and cooperate with WA to ensure that the Worldscale schedule enables an accurate comparison of voyages and rates.
  • To develop a constructive commercial and chartering dialogue with other stakeholders in the tanker industry

2018 Members 

Gernot Ruppelt (Chairman) – Ardmore Shipping Services
Martin Baldock – Scorpio Ship Management
Theodore Belexis – Product Shipping & Trading
Carlo Cameli – Fratelli d’Amico Armatori
Flemming Carlsen – d’Amico International Shipping
Steen Eriksen – Team Tankers International
Takashi Iwamoto – Mitsui OSK Bulk Shipping (Europe)
Antonios Margetis – Andriaki Shipping
Metaxia Psalti – Neda Maritime Agency
Nic Reardon-Smith - d’Amico International Shipping

Secretary: Bill Box, INTERTANKO Senior Manager Commercial

Contact
bill.box@intertanko.com

Publication
In 2001 INTERTANKO produced a publication on the Worldscale system called Worldscale – A Chartering Tool. This describes the function of the Worldscale Schedule and also lists several aspects that the Worldscale system does not solve. Updated in 2010, this publication has become the standard work on the issue and can be ordered from
the INTERTANKO bookshop.

Bunker Clause
INTERTANKO Members have been advised that they may wish to consider using bunker price adjustment clauses in their charterparties, or hedging in the forward markets if they wish to reduce their exposure to the fluctuations of the bunker market. INTERTANKO’s Documentary Committee has produced a bunker adjustment clause which is available under the
Legal & Documentary Section

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