Shell had booked two Very Large Crude Carriers (VLCC) on Tuesday at the rate of Worldscale 70. Worldscale is a unified system of establishing payment of freight rate for a given oil tanker’s cargo.
It now operates a diversified fleet of around 160 vessels, including dry bulk, container, and chemical tankers, rather than focusing solely on oil transport with Very Large Crude Carriers (VLCC ...
The robust demand pushed the rate for a VLCC on the Middle East to China ... a separate senior oil trader said. Tanker freight costs for "clean products" such as gasoline, diesel and jet fuel ...