Examples of Worldscale in a sentence
A base Worldscale rate of 30 (Thirty).The freight adjustment shall take into consideration the following: The Second Party is to be compensated if the assessment in (A) is more than the base rate. If the assessment in (A) is less than the base rate then the First Party is to be compensated.Kirkuk crude of 36 API, i.e., a conversion factor metric ton/Barrel of 7.42.No freight compensation will be calculated for shipments destined to South African Market.
The average Worldscale quotations published in Platts Dirty Tankerwire for the voyage Ceyhan terminal-US Gulf (260 kt North and South America bound ships) for the average of (the Month prior to the Month of loading) (I, E.M-1) and accepted nomination (M).
The pricing of the transaction is expressed as percentage of the Worldscale flat rate (officially known as the “New Worldwide Tanker Nominal Freight Scale”), assessed and published by the Worldscale Association.
If the vessel size is larger than the size of the cargo, then demurrage rate shall be prorated accordingly, provided that in both above cases demurrage rate shall not exceed Worldscale 100.
Worldscale 100 rate means the rate provided by the edition of Worldscale prevailing at the date of loading for vessels of the same type and category.