WHAT IS THE MEANING OF THE TERM "CHARTER RATE"?

Data collected from 1969, 1970, and 1971 illustrates how tanker size, length of charter, and length of voyage have affected charter rates. According to data collected in 1970, three year charters can be up to 30 percent less expensive than short-term charters. Small tankers, due either to their inefficiency or the great demand, were charging higher rates than larger tankers in '69 and '70. In '70 fixtures were very profitable for charterers, (91 percent above break-even) but in '69 rates were only 10 percent above break-even. An analysis of collected data from '69 has shown that the length of voyages of time-charter vessels are longer than for vessels operated by owners or for vessels chartered for only a single voyage.

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  • Corporate Authors:

    Petroleum Publishing Company

    211 South Cheyenne, P.O. Box 1260
    Tulsa, OK  USA  75221
  • Authors:
    • Nelson, W I
  • Publication Date: 1972-2-28

Media Info

  • Features: Figures; Tables;
  • Pagination: p. 81-82
  • Serial:
    • Oil and Gas Journal
    • Volume: 70
    • Issue Number: 9
    • Publisher: PennWell Publishing Company
    • ISSN: 0030-1388

Subject/Index Terms

Filing Info

  • Accession Number: 00032684
  • Record Type: Publication
  • Source Agency: United States Merchant Marine Academy
  • Files: TRIS
  • Created Date: Apr 21 1972 12:00AM