horne council world scale
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8/6/2019 Horne Council World Scale
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INTERTANKO’sWorldscale Committee
Presentation to INTERTANKO’sCouncil 6 May 2010
Tim Horne – ChairmanKristian R. Fuglesang - Secretary
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Worldscale INTERTANKO Council 6 May 2010
• Purpose of Worldscale:
– Provide shipowner with same net return per day
irrespective of the voyage actually performed
• Very useful tool for voyage chartering
• Shorthand method for comparing marketlevels
• Increases transparency• Facilitates competition
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Worldscale INTERTANKO Council 6 May 2010
• Worldscale problems – a major reason whyINTERTANKO was established in 1970
• INTERTANKO’s Worldscale Committee:
– One of INTERTANKO’s oldest Committees
– From confrontation to constructive cooperation
– Integrity
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Worldscale INTERTANKO Council 6 May 2010
Aims:
• To ensure that WS is as useful forcomparison purposes as is practicable
• To keep WS system under review
• To have a constructive dialogue with WSAssociations in London and New York
• To generate ideas and makerecommendations – both re. policy anddetails
• To assist members in understanding WS
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Worldscale INTERTANKO Council 6 May 2010
Current issues
• Low sulphur fuel
– Emission control areas
• Demurrage – loss of comparability
– Max. 0.1% sulphur content at berth + anchorage• Derivatives trade (Forward Freight
Agreements)• Interpretation and advice to members
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Worldscale INTERTANKO Council 6 May 2010
Some previous issues (ctd.)
• Greater clarity for Turkish straits passage
• Norwegian NOx tax
• Security charges in ports – ISPS costs
• Bunker adjustment clause
• £, €, ¥ - exchange rates quoted
– enabling currency adjustment clauses
• Environmentally sensitive routeing
– Achieved in 2005, but promoted since 1991
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Worldscale INTERTANKO Council 6 May 2010
Activities:
• Meetings when required
– at least once a year (next: 20th May)
• Operating through correspondence
• Annual working lunch with London WSAssociation (next: 20th May)
• Close direct contacts between Secretariats• Provide Members with advice
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Worldscale INTERTANKO Council 6 May 2010
Activities continued:•Lectures to students
•Publication
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Worldscale INTERTANKO Council 6 May 2010
Committee Members:
• Tim Horne, Teekay Shipping (UK) Ltd (Chairman)
• Mark Linham, Eletson Maritime Limited, London
• Hayato Mochizuki, Mitsui OSK Bulk Shipping (Europe) Ltd
• Justin Murphy, AET
• Iain Shaw, St. James’s Chartering Ltd
• Christian Østrup, Laurin Maritime
• Kristian R. Fuglesang (Secretary)
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Worldscale INTERTANKO Council 6 May 2010
Thank you for your attention
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
8/6/2019 Horne Council World Scale
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Worldscale INTERTANKO Council 6 May 2010
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