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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.
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Builder's Old Measurement. Builder's Old Measurement ( BOM, bm, OM, and o.m.) is the method used in England from approximately 1650 to 1849 for calculating the cargo capacity of a ship. It is a volumetric measurement of cubic capacity. It estimated the tonnage of a ship based on length and maximum beam.
Rate of turn indicator or ROTI on board vessels indicates the rate a ship is turning. It indicates the rate a ship is turning in degrees per minute (°/min) . It is one of the most important instruments a helmsman can have when steering a course. It can also be used to turn at a steady rate of turn, which is very important in pilotage water.
The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods. TCE ...
Bunker quantity survey. A bunker quantity survey ( BQS ), also known as a bunker quantity audit or simply a bunker survey, is a quantitative examination and assessment of fuel oil ( bunker fuel) transferred from one party to another. In the maritime industry, a BQS is conducted when a supply vessel (typically a bunker barge or shore tank ...
Currency adjustment factor. A currency adjustment factor (CAF) is a fee placed on top of freighting charges for carrier companies developed to account for constantly changing exchange rates between the dollar and other currencies. Its goal is to offset any losses from fluctuating exchange rates for carriers. [1]
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