Maritime Glossary
Worldscale
Also known as: WS, New Worldwide Tanker Nominal Freight Scale
The reference index for tanker freight rates, expressing the actual rate as a percentage of the nominal Worldscale flat rate for each route.
Status: ActiveVerified: Source confidence: high (95%)
Full Definition
Worldscale (WS) is published annually by the Worldscale Association. WS 100 is the full reference (flat) freight for a specific route; actual market rates are quoted as a percentage (e.g., WS 70). Flat rates are recalculated each year based on standard vessel parameters, reference port costs, and a benchmark bunker price. Worldscale is the universal quotation convention in the spot tanker market, enabling comparison of freight across different routes.
Domain Tags
commercialcharteringoil and gas