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Freight rate. A freight rate (historically and in ship chartering simply freight[ 1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
Worldscale. Worldscale is a unified system of establishing payment of freight rate for a given oil tanker 's cargo. 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 freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. [48] In a lump sum rate arrangement, a fixed price is negotiated for the delivery of a specified cargo, and the ship's owner/operator is responsible to pay for all port costs ...
Shipping rates have fallen sharply this year as the pandemic-induced scramble for ... In comparison, a container shipped from Asia to Europe costs around $7,800, 40% less than at the start of the ...
Year-average daily charter rates for a 1-TEU (14-tonne) slot have varied from $2.70 to $35.40 between 2000 and 2010. UNCTAD also tracks container freight rates. Freight rates are expressed as the total price in U.S. dollars for a shipper to transport one TEU worth of cargo along a given route. [60]
The Freightos International Freight Index was first launched as a weekly freight index in early 2017. The Freightos Baltic Index has been in wide use since 2018. 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).
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