Worldscale is a freight scale frequently used when tankers are fixed to carry oil cargoes on a voyage basis. Tankers are often fixed before the exact loading port(s) and discharge port(s) are known. The ownership of the cargo may also change whilst the tanker is at sea. The purpose of Worldscale is to provide the shipowner with same net return per day (i.e. freight less bunker costs, port charges, canal dues, etc.) irrespective of the voyage performed.
Fixtures are made with reference to an agreed percentage of the flat rate – Worldscale 100. These flat rates are a set of dollar figures which give the freight per ton for each of a very large number of possible voyages. Apart from being a very useful tool for chartering, the Worldscale system also provides a shorthand method for comparing market levels. In addition, Worldscale increases transparency and facilitates competition. INTERTANKO has issued a publication, Worldscale – A Tanker Chartering Tool, to assist Members in fixing voyages for their tankers.
Commercial Manager & Area Manager Greece and Cyprus
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