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Shipping Intelligence Weekly - Sources, Methods & Definitions

Sources & Methods for the Shipping Intelligence Weekly

These Sources & Methods are part of the Clarksons Quality System registered under BS EN ISO 9002:1994 by BSI. Certificate no. FS 30573.

Updated: October 2010

Clarkson Research Services

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October 2010

Shipping Intelligence Weekly - Sources, Methods & Definitions
Shipping Intelligence Weekly (SIW) is published on a Friday (or earlier if public holidays demand) fifty times a year (excluding Easter and Christmas weeks). Dedicated files are updated every week with the latest available data whether its frequency is weekly, monthly or longer. Sources of information are both internal and external. Internal data is gathered from Clarkson Research databases or from H. Clarkson brokers. External data is gathered from a variety of published sources. All data and information in this report is as reported up to noon on the date of publication. The data is being continually assessed, and changes may occur to historical time series. All the data in SIW is available through the Shipping Intelligence Network (www.clarksons.net) in Excel compatible time series. Cover ClarkSea Index: The ClarkSea Index is the only published weekly indicator of earnings for all the main commercial vessel types. It is weighted according to the number of vessels in each fleet sector. Clarksons Research collects rates direct from the Clarksons brokers on a daily and weekly basis and these are used to calculate the earnings that go to make up the ClarkSea Index. The sectors in the ClarkSea Index are oil tankers (VLCC, Suezmax, Aframax and clean product carriers), dry bulk carriers (Capesize, Panamax, Handymax and Handysize, gas carriers (VLGC) and fully cellular containerships. The ClarkSea Index is published in graphical/numerical form on the front page of the Clarksons Shipping Intelligence Weekly (SIW) and as a downloadable time series and graph on SIN – Shipping Intelligence Network (www.clarksons.net). 1. Freight Rates (pp. 2-7,9) Spot rates (pp.2-5): Currently, information for 49 tanker and 34 bulkcarrier spot voyages (see Annex 2) are collected on a weekly basis and form a database stretching back, in some cases, over 30 years. This is done with the assistance of H. Clarkson & Co. brokers who fill in pro-formas prepared each week by Clarkson Research showing the previous week’s rates. Tripcharter rates for four routes for a 45,000 dwt Handymax vessel, four routes for a 52,000 dwt Handymax vessel and four routes for a 74,000 dwt Panamax vessel, all of which are based on the standard specifications of BIFFEX vessels (see Annex 3), are also collected in this way. Best estimates of likely fixing levels are provided where no market fixture is made. Currently, rates are expressed in Worldscale (WS) for tanker voyages; $/tonne for dry cargo spot voyages (historically, some rates were quoted in $/(long) ton); and $/day for dry cargo tripcharters. Spot rates (p.6): Spot gas and chemical voyage rates are also collected on a weekly basis with the assistance of H. Clarkson & Co. brokers who fill in pro-formas prepared each week by Clarkson Research showing the previous week’s rates. Although some rates have historically been quoted in $/(long) ton, they are all now expressed in $/metric tonne, as is the custom of the trade. Spot rates (p.7): Short Sea rates are provided by H.C. Shipping & Chartering Ltd in Hull, UK, a fully owned subsidiary of H. Clarkson & Co. Rates for offshore vessels (in £/day) are averages of reported fixtures in the respective market sectors as supplied by One Offshore UK Ltd. Liner market charter rates (in $/day) are provided on a monthly basis by H.Clarkson brokers who fill in pro-formas prepared each month by Clarkson Research showing the previous month’s rate. Earnings (pp.2-4): Earnings are estimated as daily timecharter equivalents (TCEs) of voyage freight rates, and expressed in $/day on the voyage. In broad terms, earnings for each route are calculated by taking the total revenue, deducting current bunker costs based on prices at representative regional bunker ports (as provided by the OceanConnect bunker brokering desk) and estimated port costs (after currency adjustments) and then dividing the result by the number of voyage days. Details of the calculations and their constituent parameter and assumptions are set out in more detail in Annexes 1-4.

Clarkson Research Services

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October 2010

For more information. as indicated on the page. Timecharters (p. or the nearest available date. data is collected for all of these rates. The rates published every week are from the preceding Thursday. The ship types for which rates are collected are specified on page 9 of SIW. expressed in $/day. and updates are made available in this document. they should not be taken to represent the precise earnings of specific vessels. that other sources of earnings information may use alternative assumptions.9): Timecharter data is collected in two primary ways: (i) One year. Only earnings based on the most modern vessel are published in full in the SIW. although it is important to note that the assumptions used in the calculations are just one of a range of possible assumptions. rates are collected and earnings calculated for routes that are not published in SIW.com. Earnings”) are averages of the voyage earnings for selected routes. However. Earnings for both are calculated based on a single freight rate (for modern tonnage).Shipping Intelligence Weekly . average earnings for each ship type (“Ave. earnings are estimated for a modern and an older standard ship. (ii) other voyage-related costs. In the dry bulk sector. (iv) time the vessel is off-hire.crs@clarksons. The assumptions and standard ship types used in the timecharter equivalent earnings calculations are reviewed on a regular basis by Clarkson Research and H. Clarkson brokers.) see www. but are converted into $/day for publication on page 6. Certain factors are not accounted for in the earnings calculations. it is possible to tailor these statistics through Clarksons Consultancy Division. BCI. Clarkson Research Services 3 October 2010 . are collected on a weekly basis for average ship types. the BPI 1A TransAtlantic R/V ($/day) was replaced on 21st November 2003 by the more liquid BCI 7 Bolivar/Rotterdam ($/tonne). In the table of FFA Indications. These include: (i) the payment of commission.balticexchange. For details of the Baltic Exchange Indices (BPI. For both the tanker and bulk carrier markets. BHMI.com. FFA Indications are as reported by Clarksons Securities Ltd. Comments on these assumptions and the resultant earnings calculation are welcome from users of the data. and that the use of different assumptions can potentially make a significant difference to the results of earnings calculations. etc. plus a six month rate as well. These rates are quoted in $ ‘000/ month by the brokers. Biffex (p. The averages for older Capesize and Panamax vessels are also published. For all crude oil and dry bulk routes. Average earnings for both the Capesize and Panamax bulk carrier sectors are simple averages across all the recorded individual voyages for that vessel type. All this additional data is available through the Shipping Intelligence Network in Excel compatible time series. It is important to note that these earnings calculations are only intended as benchmark indicators of the direction of the market. three year and five year tanker rates. TCEs of voyage freight rates are also collected for two LPG voyages.Sources. BDI. For tankers. As such. at the close of business the preceding Thursday. Methods & Definitions Earnings are calculated on the basis of standard ship types (listed in Annex 3). please contact our consultancy team by email at research.5): A database is maintained of the daily Baltic Freight Indices and the rates of their component routes as published by the Baltic Exchange. (iii) vessel waiting time at port. or from the nearest available date.

Sources. by requesting brokers to fill in a weekly pro-forma with the latest rate for each ship type or by estimating the likely rate acceptable to an owner in the absence of any fixtures.000 dwt ‘modern’ vessel. Methods & Definitions Specifications of timecharter ships on page 9 of SIW: (a) “CSBC” is China Shipbuilding Corporation of Taiwan style of Capesize built in the 1980s and 1990s of approximately 149. Time series of these prices stretch back over 30 years for some vessels. This data is cross checked with the timecharter matrices that both the tanker and bulk carrier broker desks publish each week. With respect to timecharter rates. All data is collected on a weekly basis. and not actual ships. recorded as the number of fixtures for periods of one year or more.000 dwt. Note: 1. (ii) Details of all reported tanker and bulk carrier timecharter fixtures (and gas fixtures) are recorded in the Clarkson Research commercial database.8. 10-11) Secondhand Sales & Prices (pp. between 5-10 years old. Ship Prices (pp. data is collected in the same way as for spot market rates. redelivery worldwide.8. (b) The Handysize dry bulk carrier is a ‘modern’ vessel. they are adjusted in accordance with variances in the market. these changes will be amalgamated into existing time series. between 28-30. An extract of the most recent of these sales by vessel type. sale and purchase brokers who fill in pro-formas prepared by Clarkson Research showing the previous week’s levels. where sales are quoted in Euros.500 dwt. In general. Generally. and maintained as a database of month-end prices. Prices are for standard ships of the types described in average condition. In recent years. This data is sourced from available published sources and cross checked with information gathered by H.Shipping Intelligence Weekly . all of which have been noted on page 8. namely. Capesize and Panamax bulkcarrier timecharter rates are the average of quotations for Atlantic and Pacific delivery. Clarkson brokers in the course of their business. Timecharter rates are also collected for over 10 LPG voyages. Please note that because the vessel sizes assigned to each type are representative benchmarks. Clarkson brokers and from published material. These rates are quoted in $ ‘000/month by the brokers. is generated from this and reported alongside average timecharter rates for tankers and bulkcarriers on page 9 of SIW. this is particularly relevant to Ro-Ro vessels. This sales data is sourced from market information provided by H. Clarkson & Co. This was 40.000 dwt until February 2002. Activity in the timecharter market. In SIW. 2. i-ii): Prices for secondhand vessels are collated in conjunction with H. 2. but for individual sales maintained in the Clarkson Research Ship Sales Database other currencies may be specified. Handymax bulkcarrier timecharter rates are the average of Atlantic delivery/redelivery and Pacific delivery/redelivery. prices are expressed in US$ million. (d) The Super Handymax (“Supramax”) is a 52. The above specifications are meant to be guidelines only. Prices are collected for various sizes and ages of vessels for the main vessel types and relate to market sales where these have taken place and to brokers best estimates when no sale has occurred. The Clarkson 5-year-old Secondhand Price Indices are calculated by averaging the $ per dwt values of Clarkson Research Services 4 October 2010 . i-ii. built at good Far East/European shipyards but with no account taken for survey status or condition which could affect values. but are converted into $/day for publication on page 6. numerous changes/updates have been made to the existing time series. including the latest sale of each ship type/size is displayed on page ii of SIW. ‘Modern’ is taken to mean no more than ten years old.000 dwt and fitted with cranes between 25-30 tonnes. (c) The Handymax is 45.

Between October 2008 and January 2010. the data should be treated with caution as confidence limits will vary over time and between sectors. However. Time series of these prices stretch back over 30 years for some vessels. sale and purchase brokers who fill in pro-formas prepared by Clarkson Research showing the previous week’s levels. 5x 20% payments and “first class competitive yards” quotations. All data is collected on a weekly basis. The base of 100 is taken as the average index value as of January 2000. The base of 100 is taken as the average index value as of January 1988. The prices that are quoted are related to market sales where they have taken place and to brokers’ best estimates when no sale has occurred. characterised by spells of rapidly changing price levels. and maintained as a database of month-end prices. The “Far East” and the “Indian sub-Continent”). Prices are collected for a range of ship types and scrapping locations (e.Sources. the buyer and eventual breaker. Time series of these prices stretch back over 40 years in some instances. The values published in SIW are based on prices on the Indian sub-Continent for both tankers (based on a VLCC) and dry cargo vessels (based on a handy dry bulkcarrier of around 8. All data is collected on a weekly basis. and maintained as a database of month-end ship prices. prices are expressed in US$ million. It is also important to note that these newbuilding prices are benchmark values and prices will vary according to country of build. “|China”. It is stored on the Clarkson Ship Database. the originally reported contract price is quoted where available (see page iii of SIW).10): The procedures for collecting and collating newbuilding prices are the same as those for secondhand prices. See Annex 5 for more details. The Clarkson Newbuilding Price Index is calculated by averaging the $ per dwt values of the various ship types. It includes data such as the vessels’ lightweights. that for newly delivered vessels. Details of actual newbuilding contracts and overall activity are maintained in the Clarkson Research Newbuilding Database. Methods & Definitions the various 5-year-old ships. Data is also sourced from external published material.Shipping Intelligence Weekly . low levels of sales activity and a wide spread of price ideas. During this period. They are collated on a weekly basis in conjunction with H.e. Eighteen separate prices expressed in terms $ per lightweight ton (ldt) are collected every week for a range of ship types and scrapping locations (i. The additional values are available through the Shipping Intelligence Network in Excel compatible time series. delivery and ship specification. Note. Demolition Sales & Prices (p. Clarkson & Co. The Clarkson Ship Sales Database provides the source data for establishing the volume of sales activity by ship type/size and by buyer and the value of sales which is set out on a monthly basis on page i of SIW. only confirmed contracts are published in the SIW. sale and purchase brokers who fill in pro-formas prepared by Clarkson Research showing the previous week’s levels. CRSL did not publish benchmark values and users should be aware that this was a period of transition in the Sale and Purchase markets. Newbuilding Contracts & Prices (p.g. Information on actual demolition sales is based on market information provided by H. Clarkson & Co. Prices are collected for various sizes of newbuildings for the main vessel types. options or confirmed orders along with the reported price level and currency when this is available. either as unconfirmed orders. Prices are for ships of a “European Spec”. but for individual sales maintained in the Clarkson Research Ship Sales Database other currencies may be specified. In general. Clarkson brokers and is checked and validated by reference to a range of published sources. These relate to concluded contracts when possible and to brokers’ best estimates when none have occurred.000 ldt). They are collated on a weekly basis in conjunction with H. “India” and “Bangladesh”). 11): The procedures for collecting scrap prices are the same as those for secondhand and newbuilding prices. its Clarkson Research Services 5 October 2010 .

(i) Sources of information used for oil and oil related data include: Petroleum Intelligence Weekly and sister publications. Coal & Coke Statistics (Canada). quarterly or annual basis depending on availability. National Coal Association (USA). Clarkson Research Services 6 October 2010 .13) Data on the main oil and dry cargo trades is sourced from a multitude of recognised business. The system provides for monthly validations of the data. Methods & Definitions reported sale price in $/ldt and its estimated value in $ million. Tex Report and Petroleum Association of Japan. Information is continuously updated through consultation with the H. Clarkson’s quality systems are ISO 9002 compliant. Fleet Data (p. Clarkson broking network and through questionnaires and direct contacts with shipowners and shipyards.Sources. commodity.12) Economic and financial data e.14) Combined Carriers: An analysis of the trading activity of combined carriers is made each month. governmental and international organisations on a monthly. combined carriers. Data collection and validation is carried out in accordance with the Clarkson Procedure CR/OPR/301. reefer vessels and offshore vessels is compiled by the Clarkson Research Statistics Department. 4. Checking and validation is carried out with reference to a range of published sources. Regular follow-up surveys ensure the quality and completeness of data is continuously improved. Statistics are taken only from published data and no use is made of confidential information obtained by Clarkson Research in the course of its business. Petroleum Intelligence Weekly. OECD. International Wheat Council. Joint Coal Board (Australia). The Economist. governmental and international organisations as well as the financial and commodity press on a weekly. 6. Eurostat.14-15) All historical and current data on the fleet. Data is compiled into time series which are used to project future trade flows on an annualised basis and ship demand. Exxon. The Database is used as the source material for the tables of demolition activity.g. These procedures provide for one of the only sources of regular monthly updates of fleet data. combos and bulkcarriers are measured in metric tonnes. Fleet data for tankers. bulkcarriers. cellular containerships. general cargo. ro-ro vessels. by buyer and by ship type/size. (ii) Sources of data for the dry cargo trades include: International Iron & Steel Institute. car carriers. Eurostat. quarterly or annual basis depending on availability. Trade Data (p. multi-purpose vessels. South African Coal Report. Monthly Energy Review of the EIA. GDP (historical and forecast). Australian Bureau of Statistics. with closure at the end of each month and output reported correct as at the beginning of the following month. changes in the fleet and the orderbook for tankers. 5. Fleet Activity (p. exchange rates. interest rates. monthly. inflation rates and commodity prices are all sourced from recognised business. US Department of Agriculture publications. gas vessels. and other national custom statistics organisations. the IMF. Tex Report. forward buying rates. Latest sales are listed in the table on pages iii and 11 of SIW. Economic & Financial Data (p. Our sources for this information include the Financial Times. Bulletin Mensuel. industrial production growth rates. BP. International Grain Council and Metal Bulletin. It is published as soon as it becomes available. All fleet data is adjusted retrospectively for minor miscellaneous changes in the fleet when necessary.Shipping Intelligence Weekly . 3.

combined carrier and bulkcarrier fleets. Clarkson brokers and their access to owner information is relied upon. iron ore. coal. (iv) laid-up. grain or others. If there is ambiguity concerning which cargo a vessel is carrying based on its ports of call. Inactive Tonnage: The Clarkson Research Statistics Department make weekly checks on the activity status of the tanker. fixture records and other industry sources/publications. the market knowledge of H. All data collection and processing is carried out in accordance with documented procedures on database maintenance. such as the shipping press. Methods & Definitions Movements of all combined carriers are checked and an assessment made of the trades in which the vessels are operating as at the first of each month based on its ports of call.e. (v) in long term storage (more than 60 days). scrapped or sent for repair is sourced primarily from publicly available industry reports.Shipping Intelligence Weekly . Note: Clarkson Research is registered for ISO 9002. Information on ships that are damaged. laid-up or in storage is sourced primarily from broker information. Once the data for each vessel has been recorded it is linked with data from the Clarkson Research Ships Database and a routine analysis is carried out that demarcates the trading activity of the fleet into trades by ship type and size in terms of both numbers of ships and deadweight. Information on tonnage that is idle. The trades to which a vessel is allocated are either oil or one of four categories of dry bulk trades i. If a vessel is laid-up or otherwise inactive this is also recorded. publication and information handling contained in the Clarkson Research Operating Handbook. Non-trading codes are allocated to the relevant vessels within the Clarkson Research Ships Database. Clarkson Research Services 7 October 2010 . (iii) Idle for more than six weeks. and is subsequently checked and validated. indicating whether it is: (i) damaged and out of service.Sources. A vessel is assumed to be in a particular trade from the time it loads a cargo until it reached another load port. (vi) being repaired. A monthly historical record of the trading pattern of the fleet is maintained. (ii) idle and awaiting orders in the Arabian Gulf (4 weeks or more).

3. owners via Clarkson brokers and for tankers. the total port time is determined by the actual experiences of the trade as advised by the H. Turn time is also added when relevant. Annex 2 also outlines and tracks the development of the routes that were used prior to the current selection. The cargo sizes are intended to represent the most common quantity currently prevalent on that particular route. were then analysed to provide average ship characteristics. the TCEs are calculated using a voyage estimating programme. Cargo quantity is shown in Annex 2. as published on 1st January of each calendar year. Please note that the Worldscale flat rates are subject to revision as noted in the periodic distribution of Worldscale circulars. all dry cargo rates are currently expressed in $/tonne. round voyages are assumed for all.g. For tankers. Details of the representative ships are listed in Annex 3. Tanker rates are converted from Worldscale using the Worldscale flat rate taken from the Worldscale website. (ii) Cargo loaded: these are predetermined and where relevant are based on the restrictions of the vessel (e. the Intertanko website. brokers. The costs are then converted from the local currency to US dollars at the current exchange rate and updated at the start of every month. (v) Sea Time: calculated from the voyage distance (taken from BP distance tables and Worldscale Books) and the vessel speed. (vii) Bunker prices: these are taken from the Thursday edition of the OceanConnect Bunker Price Re- Clarkson Research Services 8 October 2010 . see Annex 2. (vi) Port time: is calculated as an average of two days loading and two days discharging for tanker voyages. the costs are added. Annex 3 also outlines and tracks the development of the vessel assumptions that were used prior to the current selection. (iv) Canal costs: when a voyage involves passage through a canal.Earnings Calculations Shipping Intelligence Weekly . The key parameters in the equations are: (i) Freight rates: although freight rates for some dry cargo routes have historically been quoted in $/ long ton. Clarkson & Co. though only those for the most modern vessel are published in full in the SIW. 1. extracted from the Clarkson Research ship database. This information is laid out in detail in Annex 2(a) and 2(d). after consultation with H. column 4. Timecharter Equivalent Calculation: Each week. For all crude oil and dry bulk routes earnings are estimated for more than one standard ship. to provide a fair indication of the “typical” vessel being chartered on each route. (iii) Port costs: the total port cost for each voyage is calculated as the sum of loading and discharge costs for the specified cargo size and ship type. different voyage patterns are assumed depending on the route (see Annex 2). Ship Types Covered: The average earnings calculations are based on a set of 22 representative ships. except routes T58/T66. With respect to the earnings for the older vessels. For the bulk trades. 2. T77/T78 and T80/T81. plus a sea margin of 5% and any additional time for a canal transit. as is the custom of the trade. beam).Sources. Routes Covered: Timecharter equivalent estimates are currently prepared each week by Clarkson Research for 143 tanker and bulkcarrier voyage/ship combinations. only the averages for the bulk carrier routes of each vessel type are published in the SIW. Clarkson brokers. for bulk carriers. The representative ship types were selected. Methods & Definitions The purpose of the TCEs is to provide readers with an estimate of the daily earnings of ships implied by the current level of spot freight rates. They take no account of any waiting or off-hire time.Annex 1 . the load and/or discharge ports (draft restrictions) or canal restrictions (draft. The calculated earnings relate to voyages only. Annex 4 outlines the calculations. A range of these “typical vessels”. cubic capacity). The sources used to determine these figures range from the ports themselves via questionnaires.

T77/T78 and T80/T81. a representative bunker port has been selected and one or more is allocated to each route as appropriate. 8. continued… Shipping Intelligence Weekly . spot freight rates for short sea cargoes. a shorter ballast voyage is used where this is considered to be realistic. standard consumption values for laden and ballast voyages and time in port have been used. port costs and canal charges from the total freight revenue. Clarkson & Co. publication and information handling contained in the Clarkson Research Operating Handbook. spot daily charter hire rates for offshore service vessels. desk trading in that specific ship size. daily hire rates and period charter rates for a variety of liner vessels.Earnings Calculations. Ballast Voyages: For tankers the vessel is assumed to return to its loading port in ballast after discharge. 7. data. 13. Updating Procedure: The updated freight rates are entered into the computer programme on Thursday evening/Friday morning each week. 44 bulkcarrier period timecharters and 24 tanker period timecharters are collected. Note: Clarkson Research is registered for ISO 9002. brokers. Estimates are then checked by the editor of SIW. Procedure for Updating Freight Rates: Tanker and dry cargo freight rates on the 83 routes are updated on Thursday afternoon/Friday morning each week by the H.Sources. Clarkson Research Services 9 October 2010 . Where there has been no actual fixture on a particular route. Stem Sizes: Sometimes the quoted cargo size moves slightly out of line with accepted practice. 5. 4. Validation of Programme: All possible measures have been taken to ensure that the opportunity of any inadvertent corruption to our production process has been minimised. 10. after deducting total fuel/bunker costs. Clarkson & Co.Annex 1 . Commission: No commission charge is included. For each geographical region. The calculated earnings are for a single voyage only and do not include any allowance for waiting time. See Annex 3. Voyage Earnings Calculations: A print-out of the basic voyage estimating equation for tankers and bulk carriers is contained in Annex 4. For some dry cargo routes. Methods & Definitions port. Other Freight Information: In addition to the freight rates for the above 143 voyage routes. The voyage estimating programme first calculates the time the voyage takes in days. In order to avoid constantly changing the cargo size. 9. and unnecessarily disturb the time series. we ask the brokers to continue to quote on a rate but as a pro rota. There are also numerous safeguards in place to prevent persistent errors. All data collection and processing is carried out in accordance with documented procedures on database maintenance. 6. The average earnings in $ per day is computed by dividing this net earnings by days for the voyage. data for 12 bulkcarrier tripcharter routes. It then computes the net revenue earned on the voyage. Speed: No attempt is made to optimise earnings by adjusting speed in response to movement in bunker prices or freight rates. See Annex 3. an estimate is provided. spot freight rates for chemical cargoes. Consumption: For each vessel type. delays or off-hire time. A list of the laden and ballast distances used in the calculation is contained in Annex 2. For each market sector updating is carried out by the H. except for routes T58/T66. Freight rates for other specialised markets are also collected including: spot rates and earnings and timecharter rates for LPG routes and vessels. Clarkson brokers provide on a weekly basis all the period timecharter rates and the rates for the 12 tripcharter routes. 11. 12.

2 18.431 11.000 80.0 4.0/13.4 1.000 130.3 17.3 34.1 0.187 1.8 20.000 80.6 1.770 1.6 34.912 9.1 9.2 11.0 4.0 4.000 280.174 1.159 6.0/14.0 13.Annex 2(a) .9 3.0/13.000 80.1 62.2 42.9 7.191 3.4 39.170 6.3 30.5/15.0 4.604 531 3.000 45.5 16.000 55.0 4.797 4.0 15.3 8.3 23.0 21.3 13.9 32.0 4.5 14.8 2.0 48.159 6.0 14.0 0.9 37.000 80.0 14.000 280.8 0.6 0.000 80.0/14.000 260.070 3.420 5.7 1.605 3.7 3.297 1.6 2.5 14.000 30.9 10.0 0.000 70.5 14.5/14.000 130.5 13.7 19.958 6.866 10.702 1.1 2.070 3.1 0.0 14.170 6.0 4.912 9.420 5.1 0.225 3.000 80.2 2.0 14.383 357 729 6.5 14.7 27.0 13.0 72.Sources.7 12.605 6.5 0.0 14.5 14.0 2.0 14. Methods & Definitions No.1 7.174 1.0 4.440 7.5 14.1 36.5 14.2 52.2 3.0 14.000 38.3 11.797 1.3 0.6 1. Miles Laden Ballast Sea Time Voyage Time .702 1.0/15.5 21.0 4.0 0.070 1.0 4.8 22.0 16.958 6.8 32.440 7.7 25.7 22.0 4.0 4.4 32.3 42.702 5.6 1.8 37.1990/01 (Crude) Aframax .1 1.4 43.431 66.000 265.000 80.939 2.033 3.5 13.5 14.5/14.0 4.939 2.000 30.9 0.0 0.5 67.4 1.0/14.0/15.5/14.645 4.0 15.2 1.0/14.000 3 3 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 5 5 5 5 4 4 4 4 7 7 7 7 7 7 7 7 7 7 7 6 6 6 6 6 6 6 6 6 6 6 12 12 12 12 13 9 13 13 13 14 14 14 14 13 15 15 8 13 14 14 14 13 11.434 3.0 15.1 19.031 307 5.1 30.7 49.184 5.184 5.2 0.0/14.0 4.7 20.5/14.225 3.061 3.0 0.0 14.000 80.605 2.0 14.5/14.0 15.0 14.000 265.0 1.0 4.5 14.0/14.836 1.000 80.8 0.0 63.Modern (Crude) Aframax .000 275.0/14.440 7.0/15.1 46.797 1.1 21.0 15.159 4.5/14.605 3.0 14.5 26.5/14.604 531 3.5/14.5/14.5 6.000 270.8 18.0/14.702 1.0/13.5/14.4 5.0 14.000 130.170 6.3 23.604 531 3.434 3.0 14.8 28.0 4.0/15.191 3.9 80.Days Sea Port Turn Margin Time Time Canal Transit Total Voyage Time Oper.191 3.420 5.5 1.0/15.0 4.947 3.1 18.000 80.8 1.000 260.0 4.5 13.0/15.0 4.5 13.000 80.0 4.9 15.0 4.730 1.0 4.0 15.0 35.0 1.2 10.4 38.000 80.5/14.000 280.033 3.0 14.Early 1990s (Crude) Suezmax .2 0.China WAF-Med Gulf-Europe Gulf-Japan Gulf-Red Sea Med-UKC Gulf-S.0 4.6 1.444 5.0/15.4 13.0 4.0 4.645 4.947 3.5 1.1 1.5/14.0 4.1 23.1 10.0/15.7 39.2 1.5 45.9 0.0 0.3 40.531 1.5/14.6 32.4 0.420 5.6 4.0 4.0 4.0 4.9 28.0 4.0 4.5 13.000 275.4 0.1 0.7 6.0 4.0/14.0/15.4 1.7 3.0 4.5 13.000 80.5 15.159 4.7 7.5/15.000 55.434 3.0/14.0 4.2 34.7 25.0/14.0 4.3 25.1 2.3 18.9 0.159 4.770 1.000 130.0/15.2 26.000 250.645 4.9 21.0 14.0 4.836 1.0/15. Voyage Dist.000 270. Speed Knots (L/B) VLCC .0 14.0 4.000 30.0 4.9 21.075 11.Modern (Crude) Suezmax .0 4.031 307 5.1 0.5 46.Modern (Crude) Dirty Products Caribs-USAC UKC-US Gulf Med-US Gulf Med-UKC Gulf-Japan Gulf-Japan Sing-Japan Carib-USAC Med-Med Med-UKC Med-USAC UKC-USAC Clean Products Gulf-Japan Gulf-E.3 43.159 6.075 3.000 35.1 0.0 15.0 4.0/14.5 13.805 2.000 130.702 5.2 56.174 1.5 8.604 531 3.000 30.0/15.0 4.0/14.0 1.6 32.5 13.000 80.0 15.1 12.0 15.2 23.1 38.3 43.000 30.5 25.9 1.000 250.0/14.730 11.907 1.000 270.5 14.0 4.5 24.061 3.0 9.5/14.3 3.7 28.5/14.5 3.159 4.730 3.0/14.2 0.3 10.0 4.0 4.0 4.000 260.0 15.000 50.5 13.0 15.0 14.1 23.8 45.0 4.776 4.187 1.5 13.1 45.0/14.000 37.9 1.0 4.0 4.353 401 2.0 4.184 5.0 14.500 3.0 4.4 40.1 1.9 27.0 1.159 6.5 14.0 14.170 6.0 14.0 14.5/14.3 1.0 15.0 4.500 3.000 270.5 13.Africa Black Sea-Med Baltic-UKC UKC-UKC Clarkson Research Services 10 October 2010 .866 10.3 22.0 15.2 18.000 35. 824 onwards) Cargo Size Tonnes CRS Ship No.4 0.702 1.767 11.0/15.297 1.0 4.3 2.0/14.000 130.000 270.702 5.2 14.191 3.0/15.0 15.000 280.4 36.605 2.605 2.0 15.4 27.353 401 2.531 1.061 3.0/14.0 17.912 9.0/13.0 14.187 3.797 3.8 25.805 2.3 0.000 55.0 15.216 12.0 14.907 1.645 4.0/15.3 14.9 14.0/14.5/14.000 80.0 4.061 3.000 22.000 260.9 0.000 260.1 2.5 13.5 0.216 12.5 39.605 3.912 9.776 4.000 22.444 5.0/15.9 20.0 4.0/14.000 260.730 3.3 49.5/14.8 2.9 12.434 3.5 26.0 15.0 4.0 4.5 59.2 25.9 0.2 38.000 130.000 80.767 1.5/14.797 3.0 4.0/14.2 24. CRS Voyages Load Discharge Route Name in SIW (Issue No.1 41.0 4.2 42.5/14.4 12.0 4.5 21.605 6.2 15.8 2.605 3.0 4.Early 1990s (Crude) T7 T8 T9 T10 T11 T35 T36 T37 T38 T76 T77 T78 T39 T40 T41 T42 T43 T44 T45 T46 T47 T79 T80 T81 T12 T13 T14 T82 T49 T50 T51 T83 T52 T53 T54 T55 T56 T57 T58 T59 T84 T85 T86 T60 T61 T62 T63 T64 T65 T66 T67 T87 T88 T89 T68 T69 T70 T71 T90 T24 T25 T26 T27 T28 T29 T30 T31 T32 T33 T34 T72 T73 T74 T75 T91 T92 Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Ras Tanura Ras Tanura Bonny Offshore Bonny Offshore Bonny Offshore Rotterdam Bonaire Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Ras Tanura Ras Tanura Bonny Offshore Bonny Offshore Bonny Offshore Rotterdam Bonaire Sidi Kerir Bonny Offshore Ras Tanura Bonny Offshore Sidi Kerir Bonny Offshore Ras Tanura Bonny Offshore Ras Tanura Sidi Kerir Arzew Sullom Voe Sullom Voe Curacao Curacao Jakarta Sullom Voe Novorrosiyk Seria Ras Tanura Sidi Kerir Arzew Sullom Voe Sullom Voe Curacao Curacao Jakarta Sullom Voe Novorrosiyk Seria Curacao Antwerp Immingham Augusta Ras Lanuf Ras Tanura Ras Tanura Singapore Curacao Bahrain Skikda Skikda Skikda Rotterdam Tees Augusta Ras Tanura Ras Tanura Tuapse Ventspils Tees Bombay Rotterdam Chiba Ain Sukhna Rotterdam Ulsan LOOP Singapore LOOP Kaoshiung Jamnagar Singapore Singapore Rotterdam Chiba Ain Sukhna Rotterdam Ulsan LOOP Singapore LOOP Kaoshiung Jamnagar Singapore Singapore Lavera Philadelphia Huizhou Lavera Lavera Philadelphia Huizhou Lavera Singapore Trieste Philadelphia Wilhelmshaven Bayway Texas City Hamburg Chiba Trieste Trieste Sydney Singapore Trieste Philadelphia Wilhelmshaven Bayway Texas City Hamburg Chiba Trieste Trieste Sydney New York Houston Milazzo Houston Immingham Chiba Chiba Chiba New York Bombay Lavera Rotterdam Philadelphia New York Dunkirk Lavera Chiba Dar Es Salaam Augusta Amsterdam Amsterdam Chiba Gulf-East Med-Med Med-USAC UKC-UKC UKC-USAC Carib-US Gulf Indo-Japan UKC-Med Black Sea-Med Med-Med WAF-USAC Gulf-S.8 23.3 69.000 270.5 20.3 75.1 14.1 8.0 24.0 14.1 20.0 4.000 35.000 130.0 4.0 4.6 38.184 5.6 22.216 12.3 16.3 37.0 14.0 73.0 VLCC .797 4.075 11.0 4.9 0.6 7.0/14.000 30.000 260.3 6.000 30.0/14.0 4.5/14.0/14.6 7.000 80.531 1.531 1.0 4.Tanker Voyage Details (2004 Onwards) Shipping Intelligence Weekly .5/14.0 4.1 1.Korea Gulf-US Gulf Gulf-Sing WAF-US Gulf WAF-East WAF-WCIndia 270.070 1.702 5.5 13.0 15.0/15.000 70.0/15.0 4.4 1.1 1.3 2.5 1.0 4.8 52.0 4.0 4.000 80.4 1.225 3.0 25.0/15.0/14.5 1.0 4.000 50.5 14.0/15.0 14.0/15.9 29.0 4.0 4.1 27.4 1.075 3.605 2.000 75.0/15.000 80.7 17.2 1.000 80.6 32.0 4.3 9.174 1.383 357 729 6.3 13.6 2.216 12.9 22.0 4.9 1.1 6.3 18.440 7.7 42.187 3.5 15.225 3.000 30.0 15.5/14.0 15.

9 36.939 2.0 15.9 3.000 260.5 14.440 11.8 1.061 3.5 13.0 3.000 135.0 0.Days Sea Margin Port Time Turn Time Canal Transit Total Voyage Time Oper.5 21.000 80.7 15.912 9.5 38.1 18.1 1.5/13.0/15.5 67.604 531 3.1 12.3 6.383 289 651 6.0 4.5 13.0 0.2 38.5 1.2 4.0 1.5 43.5/14.Modern (Crude) Dirty Products Clean Products Clarkson Research Services 11 October 2010 .6 34.3 16.000 280.8 20.159 6.5 13.000 80.420 5.605 2.0 26.4 1.000 260.0 13.2 69.3 25.770 1.0 1.000 270.9 20.2 18.0/13.5/14.159 3.702 5.7 5.000 75.0 1.2 42.0 4.0 4.0 4.9 0.0/15.4 31.7 23.3 23. Methods & Definitions CRS Voyages No.7 7.000 80.159 1.0 4.0/15.0 4.353 401 1.5 13.5 44.6 1.225 3.2 1.Modern (Crude) Aframax .0 4.702 1.Annex 2(b) .0 13.440 11.7 25.000 55.2 1.184 5.0 4.0 4.5/14.7 3.420 5.2 11.000 260.8 29.0 4.831 1.000 130.1 9.000 130.0 4.0 23.3 75.000 260.5/14.5 14.5 13.5/14.5/13.0 4.5/14.000 50.947 3.5/14.5 14.000 35.0 4.9 2.174 1.Mid 1970s (Crude) T1 T7 T8 T9 T10 T11 T35 T36 T37 T38 T39 T40 T41 T42 T43 T44 T45 T46 T47 T12 T13 T48 T49 T50 T51 T52 T53 T54 T55 T56 T57 T58 T59 T60 T61 T62 T63 T64 T65 T66 T67 T68 T69 T70 T71 T24 T25 T26 T27 T28 T29 T30 T31 T32 T33 T34 T72 T73 T74 T75 Ras Tanura Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Ras Tanura Ras Tanura Bonny Offshore Bonny Offshore Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Ras Tanura Ras Tanura Bonny Offshore Bonny Offshore Sidi Kerir Bonny Offshore Ras Tanura Sidi Kerir Bonny Offshore Ras Tanura Ras Tanura Sidi Kerir Arzew Sullom Voe Sullom Voe Curacao Curacao Jakarta Ras Tanura Sidi Kerir Arzew Sullom Voe Sullom Voe Curacao Curacao Jakarta Curacao Antwerp Immingham Augusta Ras Tanura Ras Tanura Singapore Curacao Bahrain Skikda Skikda Skikda Rotterdam Tees Augusta Ras Tanura Ras Tanura Tuapse Ventspils LOOP Rotterdam Chiba Ain Sukhna Rotterdam Ulsan Loop Singapore Loop Kaohsiung Rotterdam Chiba Ain Sukhna Rotterdam Ulsan Loop Singapore Loop Kaohsiung Lavera Philadelphia Huizhou Lavera Philadelphia Huizhou Singapore Trieste Philadelphia Wilhelmshaven Bayway Texas City Hamburg Chiba Singapore Trieste Philadelphia W'haven Bayway Texas City Hamburg Chiba New York Houston Milazzo Houston Chiba Chiba Chiba New York Bombay Lavera Rotterdam Philadelphia New York Dunkirk Lavera Chiba Dar Es Salaam Augusta Amsterdam Black Sea-Med Baltic-UKC Gulf-East Med-Med Med-USAC UK/Cont-UK/Cont UK/Cont-USAC Caribs-US Gulf Caribs-Europe Indo-Japan Caribs-USAC UK/Cont-US Gulf UK/Cont-Med Med-US Gulf Gulf-Japan Gulf-Japan Sing-Japan Caribs-USAC Gulf-WC India Med-Med Med-UK/Cont Med-USAC UKC-USAC UK/Cont-UK/Cont Med-Med Gulf-Japan Med-Med W.912 9.0 13.4 8.6 32.4 1.4 1.5 20.3 76.1 0.5 0.1 12.191 3.831 1.5 15.444 5.5/14.000 130.0 21.5/13.174 1.6 0.5 13.604 531 3. Speed Knots (L/B) ULCC .797 3.9 32.4 0.8 23.5 14.000 80.0 4.3 35.5 14.000 270.907 1.191 3.000 30.000 27.420 5.184 5.9 0.8 52.500 30.5 6.0 42.0 15.5 13.5 13.5 13.8 1.159 1.000 50.2 25.5 14.3 11.3 4.2 0.000 250.5 8.225 11.605 3.6 7.000 50.0/13.912 9.8 3.Tanker Voyage Details (1997-2003) Shipping Intelligence Weekly .8 0.000 250.0 4.797 4.Sources.9 0.0/13.500 3.0 13.5 8.000 80.605 2.0 4.0/15.605 3.0 13.0 14.6 38.5/13.5 21.605 3.000 20.5/13.605 2.170 6.6 1.4 2.159 3.912 9.2 23.170 6.9 3.1 0.0 4.159 6.5/14.0 1.000 80.0 4.5 58.170 6.Early 1990s (Crude) VLCC .000 80.383 289 651 6.776 4.0 15.5 14.0/15.5 3.0 4.0/15.Africa-USAC Gulf-S.0 4.0 4.061 3.4 11.000 135.000 33.194 3.3 1.1 0.0 4.000 30.000 80.605 3.9 22.0 4.5 13.3 28.6 1.0 4.1 0.000 270.2 0.000 260.174 1.1 7.9 36.0 4.9 15.5/13.0 4.5/14.000 20.5 1.776 4.0 4.3 18.9 7.2 28.3 22.604 531 3.216 12.5/14.0 4.0 13.9 1.000 80.0 13.0 24.907 1.5 13.5 13.0 4.225 3.5/14.5/14.0/15.0 4.5 13.297 923 78.8 24.6 2.7 12.225 11.7 3.000 275.702 1.170 6.0 4.2 24.0 3.000 80.4 17.000 30.8 23.061 3.7 22.0 15.4 46.Korea Gulf-US Gulf Gulf-US Gulf 320.000 275.5/14.8 0.000 80.797 3.353 401 1.191 3.000 80.5 13.440 1.0 0.7 37.0/13.5/13.5 14.5/14.0 15.5 13.9 19.0/15.5 13.0 4.0/13. Load Discharge Route Name in SIW (Issue No.0 4.5 13.8 7.0 86.2 1.174 1.6 0.4 11.000 280.5 45.5 13.000 50.8 0.000 250.0/13.0 15.2 14.159 6.3 39.5 13.797 4.0 4.5/14.000 270.0 4.000 130.805 6.5 16.9 1.0/13.3 65.5/14.5 13.194 1.9 10.0 4.216 12.5/14.5 40.5 22.0 4.000 1 3 3 2 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 5 5 5 4 4 4 7 7 7 7 7 7 7 7 6 6 6 6 6 6 6 6 12 12 12 12 9 10 10 10 10 10 10 10 10 11 11 8 10 10 10 12.000 260.216 12.702 5.947 3.0 4.191 3.0 0.5 13.297 923 12.159 6.5/13.0 4.184 5.2 27.000 30.5/14.1 21.1 36.5/14.5/14.5 15. Miles Laden Ballast Sea Time Voyage Time .797 1.6 0.0/15.5 13.5/14.440 1.0 4.0 4.8 13.5 13.5 3.2 29.000 30.000 80.1 19.0 4.0 4.3 83.3 62.0 14.5/14.1 18.1 1.0/13.China WAF-US Gulf WAF-East Gulf-Europe Gulf-Japan Gulf-Red Sea Med-UK/Cont Gulf-S.5/14.0 15.4 1.000 80.5 14.1 0.2 42.963 3.5 14.797 1.0 13.1 48.0/15.4 0.0 4.0 4.5 VLCC .939 2.Modern (Crude) Suezmax .7 16.5/14.0/15.225 3.0 37.216 12.0 4.000 30.0 4.194 1.0 4.5 0.000 33.1 2.4 38.0/13.805 6.0 4.1990/01 (Crude) Aframax .9 3.6 32.000 270.5 26.444 5.5 13.194 3.0 13.5 15.0 40.702 5.0 4.000 80.1 2.061 3.2 10.0 4.9 0.0/13.1 13.7 19.9 0.0 17.0/13.605 2.8 18.605 6.5 13.0 4.420 5.4 75.500 3.5/14.702 1.Early 1990s (Crude) Suezmax .9 0. 503 823) Cargo Size Tonnes CRS Ship No.5 14.605 6. Voyage Dist.0/15.770 1.0 13.5 59.0 4.000 80.184 5.702 5.963 3.2 20.0/15.0 4.5/14.0 4.6 35.225 3.702 1.2 15.0 4.604 531 3.0 4.0/15.0 15.3 10.1 42.8 2.7 17.4 69.5 1.

420 5.1 25.0/15.0/13.000 7 8 8 8 9 9 9 9 9 10 10 6.604 603 3.605 3.5 14.0/13.8 24.0/13. 503) Cargo Size Tonnes CRS Ship No.963 3.0/13.000 1 12.9 14.159 5.Early 1990s (Crude) T7 T8 T9 T10 T11 Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Rotterdam Chiba Ain Sukhna Rotterdam Ulsan Gulf-Europe Gulf-East Gulf-Red Sea Med-UK/Cont Not in SIW 270.4 9.0/13.000 20.0/13.000 270.605 3.424 2.5 14.5 4.0/13.0/13.5 Clean Products T24 T25 T26 T27 T28 T29 T30 T31 T32 T33 T34 Ras Tanura Ras Tanura Singapore Curacao Bahrain Skikda Skikda Skikda Rotterdam Tees Augusta Chiba Chiba Chiba New York Bombay Lavera Rotterdam Philadelphia New York Dunkirk Lavera Gulf-Japan Gulf-Japan Sing-Japan Caribs-USAC Gulf-WC India Med-Med Med-UK/Cont Med-USAC UK/Cont-USAC UK/Cont-UK/Cont Med-Med 55.000 250.Weekly .0/13.5 14. Load Discharge Route Name in SIW (Pre-Issue No.907 1.854 75.383 289 651 6.854 11.5 0.5 14.5 14.500 3.797 4.907 1.605 6.000 6 6 6 3.0/13.4 23.5 Clarkson Research Services 12 October 2010 .225 12.3 12.5 14.0 22.0 37.5 Dirty Products T21 T22 T23 Rotterdam Milford Haven Milford Haven Bayway Milazzo Wil'haven UK/Cont-USAC Not in SIW UK/Cont-UK/Cont 50.3 14.1 46.000 28.0/13.159 5. Methods & Definitions Shipping IntelligenceTanker Voyage Details (Pre-1997) CRS Voyages No.1 14.0/13.0 23.000 50.000 28.5 14.0/13.191 3.605 2.702 1.000 130.0/13.000 80.424 2.170 6.Sources.000 3 3 3 3 3 11.605 3.5 14.000 5 5 5 5 5 5 5 3.0 14.0/13.170 6.420 5.000 270.0/13.000 270.0/13. Miles Laden Ballast Sea Time Voyage Time .5 VLCC .5 14.8 14.000 250.1 41.5 14.702 1.0 41.3 14.5 14.5 14.797 1.000 80.6 6.5 14.5 14.605 3.383 289 651 46.5 14.353 401 1.000 250.0/13.5 14.605 2.1 46.797 27.5 14.000 30.2 15.107 780 25.Africa-USAC 135.8 17.159 5.184 1.061 3.947 3.0/13.061 3.000 80. Voyage Dist.770 1.5 15.000 2 2 2 2 2 11.0 14. Speed Knots (L/B) ULCC .0/13.000 80.5 29.174 1.5 Aframax (Mid 1980s) T14 T15 T16 T17 T18 T19 T20 Ras Tanura Sidi Kerir Arzew Sullom Voe Sullom Voe Curacao Curacao Singapore Trieste Philadelphia Rotterdam Bayway Texas City Hamburg Gulf-East Med-Med Med-USAC UK/Cont-UK/Cont UK/Cont-USAC Caribs-US Gulf Caribs-Europe 80.5 14.Mid 1970s (Crude) T2 T3 T4 T5 T6 Ras Tanura Ras Tanura Ras Tanura Sidi Kerir Ras Tanura Rotterdam Chiba Ain Sukhna Rotterdam Ulsan Gulf-Europe Gulf-East Gulf-Red Sea Med-UK/Cont Not in SIW 270.604 603 3.000 80.963 3.5 15.0/13.191 3.0 14.174 1.Days Sea Margin Port Time Turn Time Canal Transit Total Voyage Time Oper.Mid 1970s (Crude) T1 Ras Tanura LOOP Gulf-US Gulf 320.0/13.0/13.0 46.0/13.5 14.061 3.5 Suezmax (Early 1990s) T12 T13 Sidi Kerir Bonny Offshore Lavera Philadelphia Med-Med W.170 6.Annex 2(c) .854 75.061 3.000 30.000 28.0/13.0/13.225 81.0/13.0/13.0/13.0/13.0/13.000 28.5 14.000 30.5 24.854 11.0 23.770 1.5 VLCC .605 6.159 5.000 250.170 6.947 3.0/13.000 280.6 11.000 20.000 28.5 14.6 16.5 14.107 780 3.6 26.5 14.5 14.000 50.184 13.0/13.353 401 1.000 80.8 7.000 4 4 1.5 14.9 7.

/Rotterdam Hay Pt.000 68.0 13.1 40.0 1.0 1.775 1./Rott Roberts Bank/Rott USGulf/ARA Indonesia/Rotterdam H.025 3.0 0.138 1.0 14.0 4.9 42.731 4.5 13.0 1.8 1.225 4.229 4.9 1.8 0.6 1.000 140.0 0.6 1.943 7.426 4.6 61.8 2.5 14.6 34.5 1.3 6.5 26.1 1.6 34.2 24.1 2.5 25.0/13.427 869 1.3 1.0 0.6 55.275 12.0 0.6 39.3 0.5 5.1 4.544 13.0 13.345 4.4 1.320 4.872 3.3 2.0 14.500 58.0/13.5 13.1 30.0 13.5 14.1 22.500 166.000 145.0 6.0 7.0 50.500 3.287 4.0/13.225 4.5 1.341 4.0 2.0 0.140 9.5/14.0 14.0 0.Baoshan Dampier/Beilun.5/15.854 6.0 13.2 27.0 14.025 11.5 5.000 145.5 14.5/15.762 4.3 1.0 0.0 63.5/14.0 1.5/15.7 29.0 0.331 11.0 2.3 19.4 32.025 5.5 46. Miles Laden Ballast Sea Time Voyage Time .5 7.000 135.1 1.8 1.7 31.3 26.2 53.1 2.3 1.1 1.0/14.3 49.9 20.0 1.3 37.427 869 1.5/13.057 8.0 7.665 5.5 13.8 35.000 60.901 3.000 130.520 3.5 13.0 7.5 14.000 17 17 17 17 17 17 17 17 17 17 17 17 17 17 17 17 17 17 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 19 20 20 20 20 20 20 19 20 20 20 20 20 20 20 18 18 18 18 18 18 18 18 18 18 18 18 21 21 21 22 5.2 33.000 50.5 42.5 13.8 0.287 4.6 30.0 0.0/14.8 0.1 7.0/13.539 4.4 35.427 869 1.901 3.943 7.854 4.3 0.9 43.8 13.5/15.500 156.5 8.Annex 2(d) .0 4.5 13.5 14.0 1.331 11.000 66.0 0.4 32.138 1.7 25.690 3.0 0.7 1.901 3.0 7.Rds/ARA Roberts Bank/Japan Newcastle/Cont Newcastle/Japan Bolivar/ARA Richards B.000 136.000 167.0 2.000 67.Early 1990s (Coal) Capesize .5 13.0 13.5/13.5 1.3 2.500 124.5/15.1 0.000 159.3 39.5/13.9 9.5/13.1 35.0 0.4 8.0 14.0 14.341 4.5 1.5/13.3 0.4 8.757 2.9 9.5 1.500 6.5 13.Sources.0 14.0 14.7 41.000 145.4 8.0 39.0 14.7 1.757 2.5/15.8 59.943 3.0 0.0 0.7 1.5 13.000 168.0 0.000 151.000 63.6 6.0 0.854 31.140 9.3 0.5/14.4 57.0/13. Speed Knots (L/B) Capesize .0 1.000 167.5 13.3 17.287 4.0 1.000 70. 804 onwards) Cargo Size Tonnes CRS Ship No.4 48.0 4.5 13.0 0.2 26.6 25.7 49.0 0.000 166.Baoshan 145.0 13.0/13.1 39.0 8.4 20. Voyage Dist.3 2.5 14.5/14.5/15.5 13.5 6.3 0.0 0.5 8.3 60.1 6.470 10.000 70.0 0.5 2.3 2.4 41.874 3.140 2.500 11.8 56.5/13.Modern (Coal) Panamax .5 14.0 14.000 67.5 13.0 50.665 3.9 7.375 63.0 26.4 13.470 4.5 14.000 122.0 0.0 0.5 13.536 3.5 Capesize .7 4.000 145.5 0.5 9.0 0.5/13.229 4.9 54.3 5.7 1.0 14.0 1.275 4.054 4.5 8.Rds/ARA Roberts Bank/Japan Newcastle/Cont Newcastle/Japan Bolivar/ARA Richards B.0 1.9 33.5 0.088 1.5 5.0/14.1 4.9 19.5/13.943 7.9 43.500 11.520 9.3 2.140 2.8 5.5 14.5 13.874 3.3 0.0 1.0 4.497 2.5/15.762 4.0 14.500 165.Modern (Grain) Clarkson Research Services 13 October 2010 .3 39.6 2.275 4.5 1.0 14.7 26.539 4.5/13.3 1.5/13.900 63.5/13.2 2.5 1.5 1.872 3.5 63.633 3.088 1.5/15.0 4.0 14.0 0.0 0.8 35.500 157.4 2.000 65.0 8.3 0.000 138.5 14.3 1.544 13.0/13.000 54.668 2.9 41.0 1.5 0.0 0.000 63.9 21.5/15.3 6.4 0.0/14.470 10.500 2.1 2.0 0.8 26.5 1.0 13.0 1.000 57.0 0.9 6.0 0.500 166.5/14.9 44.3 0.8 0.500 6.5 7.2 11.3 1.0 7.5/13.0 1.0/13.000 138.0 6.4 33.0 55.606 4.0/13.359 3.0 24.000 60.2 11.0 0.0 1.0 11.3 0.5/14.320 4.5 13.5 6.0 0.0/13.057 8.5/15.8 44.5 2.1 59.0 0.000 69. Rotterdam Rotterdam Rotterdam Rotterdam Rotterdam Morocco Japan USGulf/Japan(HSS) Indonesia/Rotterdam H.8 28.4 46.9 52.0 0.700 159.4 33.5/13.140 2.0 0.6 1.943 7.000 148.3 2.5/13.0 14.0 33.8 51.1 1.500 67.359 7.5 13.731 4.7 21.5/13.5/13.0 6.088 1.668 2.0 1.5 13.500 3.0 0.1990s (Coal) Supramax .600 72.0 14.470 4.0 14.0 1.606 4.287 4.9 51.0 0.1 59.0 1.3 2.0 1.0 1.0 0.5 1.0 1.974 3.5/13.0/13.5/15.854 4.371 7.000 67.0/13.0 14.5 25.5 1.0 0.2 1.1 37.901 3.0 1.229 4. Methods & Definitions CRS Voyages No.000 145.6 55.3 40.5 9.0 0.0 16.0 0.1 40.0 1.3 5.8 9.5 13.000 62.0 14.0 0.054 4.4 21.4 27.6 2.359 7.4 1.5 10.800 135.0 26.0 0.500 2.0 34.0 0.3 44.359 3.633 3.Bay/Rotterdam Bolivar/Rotterdam Indonesia/Rotterdam Tubarao/Rotterdam Tubarao/Japan 18m Dampier/Rotterdam Dampier/Japan 18m Tubarao/Beilun.8 1.6 20.0 0.213 5.000 166.1 7.0 28.5 14.6 10.088 1.7 51.665 5.0 0.5/14.943 3.8 9.5 27.7 4.5 4.520 4.8 5.0 1.3 0.5/15.9 16.229 4.4 8.5 1.0 0.5/15.539 4.0 0.5 28.0 7.9 11.000 49.6 1. Rotterdam Rotterdam Rotterdam Rotterdam Rotterdam Morocco ARA Japan Cont Japan ARA Rotterdam Rotterdam ARA Spanish Med.5/13.8 2.8 1.536 3.5/14.5 1.000 143.5 0.0 0.0/13.000 60.1 2.974 3.5 1.3 0.0 0.5 1. Load Discharge Route Name in SIW (Issue No.4 21.5 8.6 2.0 0.0 0.0 0.000 65.0 45.8 60.3 0.0 0.025 11.5 14.5/14.0 0.775 1.3 36.0 0.5 14.8 2.5 5.544 3.025 5.0 13.2 32.0 14.5 6.6 4.4 2.5 13.3 26.0 6.0 0.5 14.0 11.8 27.731 4.5 2.0 0.5 7./Rott Roberts Bank/Rott USGulf/ARA Hay Pt.6 28.5 5.Baoshan Saldanha /Beilun.0 13.690 3.8 1.0 0.5 25.3 17.3 1.4 39.0 33.4 6.980 64.0 0.0 13.904 4.9 6.0 0.0 1.0 33.5 67.854 6.0 14.5 5.300 137.0 13.140 2.0 13.5 14.0 6.520 3.0 14.1980s (Coal) Panamax .1 19.275 12.345 4.3 0.0/13.5/15.5/15.000 145.544 3.000 60./Japan 17m R.025 3.0 0.8 2.0 1.3 0.000 145.5 40.1 1.5 7.8 1.539 4.5/15.Days Sea Margin Port Time Turn Time Canal Transit Total Voyage Time Oper.4 1.5 0.5/15.4 0.0 1.000 62.000 67.0 0.0/13.4 12.0 0.000 67.0 0.0 0.904 4.5/14.427 869 1.400 115.5/14.2 29.0 0.665 3.6 45.9 21.Early 1990s (Iron Ore) B2 B3 B5 B6 B22 B23 B24 B55 B56 B57 B58 B8 B9 B10 B11 B25 B59 B60 B27 B28 B29 B30 B31 B32 B33 B61 B62 B63 B64 B39 B40 B41 B42 B43 B65 B66 B16 B18 B19 B20 B41 B42 B43 B67 B68 B69 B70 B71 B72 B73 B74 B48 B49 B50 B51 B52 B53 B54 B75 B76 B77 B78 B79 B80 B81 B82 B83 Tubarao Tubarao Dampier Dampier Tubarao Dampier Saldanha Bay Narvik Nouadhibou Goa Port Cartier Hampton Roads Queensland Queensland Richards Bay Bolivar Banjarmasin Baltimore Tubarao Tubarao Dampier Dampier Tubarao Dampier Saldanah Bay Narvik Nouadhibou Goa Port Cartier Hampton Roads Queensland Queensland Richards Bay Bolivar Banjarmasin Baltimore Hampton Roads Roberts Bank New South Wales Newcastle Bolivar Richards Bay Roberts Bank US Gulf Richards Bay Indonesia Maracaibo Gdansk Ventspils Murmansk US Gulf Hampton Roads Roberts Bank New South Wales Newcastle Bolivar Richards Bay Roberts Bank US Gulf/ARA Richards Bay Indonesia Maracaibo Gdansk Ventspils Murmansk US Gulf US Gulf Rotterdam Japan Rotterdam Japan Beilun/Baoshan Beilun/Baoshan Beilun/Baoshan Rotterdam Rotterdam Beilun/Baoshan Rotterdam Rotterdam Rotterdam Japan Rotterdam Rotterdam Rotterdam Rotterdam Rotterdam Japan Rotterdam Japan Beilun/Baoshan Beilun/Baoshan Beilun/Baoshan Rotterdam Rotterdam Beilun/Baoshan Rotterdam Rotterdam Rotterdam Japan Rotterdam Rotterdam Rotterdam Rotterdam ARA Japan Cont Japan ARA Rotterdam Rotterdam ARA Spanish Med.8 37.0 0.0 0.000 145.4 17.0 1.497 2.6 4.5/14.426 4.Bulkcarrier Voyage Details (2008 Onwards) Shipping Intelligence Weekly .5 13.0 0.000 167.6 6.9 11.7 33.0 1.371 7.0 1.9 22.000 66.2 1.Modern (Iron Ore) Capesize .0 6.0 0.5 0.2 42.731 4.

7 49.5 7.0 0.7 14.0 14.829 4.500 3.5 7.4 28.1 7. Saldanha/Beilun.Modern (Coal) B34 B35 B36 B37 B38 B39 B40 H.5/13.7 1.000 145.5 7.000 148.5/15.000 136.5/13.000 138.0 0.3 0.341 4.000 14 14 14 14 14 14 14 5. Load Discharge Route Name in SIW (Issue No.0 1.5/15.0 0.2 53.0 0.3 42.539 3.500 58.8 1.0 1.Bay Hampton Roads Queensland Queensland Richards Bay Bolivar Rizhao Japan Rotterdam Rotterdam Japan Rotterdam Rotterdam Rotterdam 132.0 Clarkson Research Services 14 October 2010 .0 55.5/13.0 0.4 1.3 2.Rds/ARA Roberts Bank/Japan Newcastle/Cont Newcastle/Japan Bolivar/ARA Richards B.0 14.0 1.500 484 53.0 14.426 21.359 7.359 3.6 45.7 4.Rds/R.803) Cargo Size Tonnes CRS Ship No.5 1.0 2.1 2.667 4.974 3.0 63.0 1.0 14.0 6.3 0.700 15 15 15 15 4.0 4.000 13 13 13 13 13 13 13 15.6 55.0 Panamax .4 21.7 51.4 8.0 0.3 20.274 135.7 25.5 14.8 0.Australia W.000 140.1 1.0 33.5/14.5 14.5 13.3 1.3 44.1 19.213 4.139 3. Voyage Dist.500 14.500 484 57.5/14.287 4.331 11.0 6.0 14.8 0.5/13. (HSS) Japan Japan USGulf/Rott(Lights) USGulf/Rott(HSS) USGulf/Japan(HSS) Nopac/Japan 55.0 13.9 11.6 1.0 44.9 9.1 2.025 3.5 14.9 52.5 14.1 1.6 34.057 8.829 9.2 32.0 8.0 1.500 62. 503 .0 13.000 67.8 45.Annex 2(e) .470 10.7 44.5 13.500 165.426 21.2 1.5/14.6 1.3 1.5 25.762 4.8 9.7 28.6 57.0 8.0 4.500 16 17 17 17 4.5 0.3 1.275 4.0 0.000 13 13 13 13 13 13 13 5.0 44.000 167.1 14.5 43.Modern (Iron Ore) B27 B28 B29 B30 B31 B32 B33 Tubarao Tubarao W.0 0.3 1.536 3.943 3.213 4.5 0.500 54.8 0.5/14.126 3.0 1.0 0.4 8.275 12.5 9.025 11.5 28.500 6.5 Capesize .606 4.0 0.0 1.8 1.0/13.762 4.1980s (Coal) B16 B18 B19 B20 B41 B42 B43 Hampton Rds Roberts Bank NSW Newcastle Bolivar Richards Bay Roberts Bank ARA Japan Continent Japan ARA Rotterdam Rotterdam 72.0 1.500 166.5 13.0 0.904 3.0 14.4 42.0 6.5/14.000 145.6 4.341 4.5 13.1 2.0 66.633 3.0/13.0 14.974 3.0 13.0 33.7 61. (HSS) Japan Japan 57.0 Capesize .000 145.1 60.667 29.0 0.0 14.359 7.5/14.5/13. (Lights) Rott.0 13.6 34.5/13.5 13.8 1.874 3.275 12.8 2.5 63.3 1.4 32.0 0.6 21.5 67.025 3.6 1.000 135.8 2.829 4./Japan 17m R.0 1.5 2.8 26.025 11.4 2.7 1.5/13.0 0.375 63.854 4. Miles Laden Ballast Sea Time Voyage Time .1 1.4 14.5/15.5 2.3 13.Rds/R.854 4.9 51.2 1.0 0.7 62.8 9.371 7.000 60.0 0.5 Capesize .126 3.3 42.5/15.0/13.0 0.4 35.Early 1990s (Iron Ore) B2 B3 B5 B6 B22 B23 B24 Tubarao Tubarao W.2 2.0 0.371 7.775 5.5 13.544 3.8 60.138 28.000 122.5 46.6 61.Boa.3 2.0 14.9 28.Australia Tubarao W.5/15.3 5.0 0.943 7.6 2.700 150.Bay/Rotterdam Bolivar/Rotterdam Rizhao/Rotterdam 159.5 14.0 2.4 14.Days Sea Margin Port Time Turn Time Canal Transit Total Voyage Time Oper.0 0.536 3.1 9.470 4.5/13.775 5.000 161.3 1.0 26.000 60.Australia Tubarao W.0 0.0 0.5 2.1 2. Methods & Definitions Shipping Intelligence Weekly -Voyage Details (2002-2008) CRS Voyages No.Bulkcarrier Sources.359 3.2 42.3 29.0 0.0 4.544 13.0 14.943 7.1 40.667 29.7 1.Australia Saldanha Bay Rotterdam Japan Rotterdam Japan Beilun/Baos Beilun/Baos Beilun/Baos 145.9 1.8 14.3 5.000 166.5/13.539 4.9 1.829 4.943 7.1980s (Grain) B12 B13 B14 B15 New Orleans New Orleans New Orleans NOPAC Rott.000 16 17 17 17 17 17 17 3.138 31.5 1.5/13.320 4.Australia W.0 0.0 0.0 0.000 14 14 14 14 14 14 14 15.5/15.1 6.8 2.3 1.5 13.0 7.Australia Saldanha Bay Rotterdam Japan Rotterdam Japan Beilun/Baoshan Beilun/Baoshan Beilun/Baoshan Tabarao/Rotterdam Tubarao/Japan 18m Dampier/Rotterdam Dampier/Japan 18m Tub/Beilun.8 0.829 9.054 4.500 166.0 0.2 24.000 145.5 1.000 145.5/13.1 2.1 37.0 0.0 0.0 0.544 13.9 21.0 16.5/15.3 49.5/13.5 14.9 19.5 13.5/14.5/15.0 14.500 14.7 44.000 67.0/13.0 27.0 Panamax .9 6.0 0.5/15.470 4.0 13.0/13.829 4.500 6.0 14.6 2.0 13.1 4.1 59./Rott Roberts Bank/Rott.5/14.9 1.2 26.1 7.275 4.0 0.0 0.0 0.0 0.0 6.9 1.5/15.9 9.5 14.8 1.Early 1990s (Coal) B7 B8 B9 B10 B11 B25 B26 H.0 0.9 6.943 7.5 Panamax .4 1.5/15./Rotterdam Hay Pt.0 14.500 165.8 35.0 1.6 1.0 0.0 0.0 1.1990s (Coal) B48 B49 B50 B51 B52 B53 B54 Hampton Rds Roberts Bank NSW Newcastle Bolivar Richards Bay Roberts Bank ARA Japan Continent Japan ARA Rotterdam Rotterdam H.1 30.3 39.0 0.3 2.Bay Hampton Roads Queensland Queensland Richards Bay Bolivar Rizhao Japan Rotterdam Rotterdam Japan Rotterdam Rotterdam Rotterdam Hay Pt.4 32.0 4.0 50.057 8.5 13.829 4.606 4.1 4.0 1.539 4.0/13.0 14.5/15.5/14.500 156.0 27.0 43.3 2.3 2.943 3.0 0.667 4.0 0.539 3.0 0.700 56.7 4.000 57.5 14.5 1.000 67.5 Panamax .287 4.2 30.287 4.000 66.000 167.0 39.3 2.0 1.0 16.1 1.5 7.8 56.5/13.4 1.000 145.5/13.6 2.0 13.9 54.0 1.5 42.0 6.000 62.0 0. 67.0 1.539 4.0/13.0 14.5 13.6 13.1 1.0 0.7 13. 167.544 3.874 3.0 13.Baoshan Dampier/Beilun.0 0.139 3.0 26.1990s (Grain) B44 B45 B46 B47 New Orleans New Orleans New Orleans NOPAC Rott.5 13.1 22.4 1.0 0.025 5.300 137. (Lights) Rott.320 4.0 0.4 39.829 4.5/14.054 4.8 51.5/15.5 25.0/13.Bao.8 35. Speed Knots (L/B) Capesize .0/13.0 71.470 10.980 64.4 57.3 39.0 33.0 7.287 4.3 26.5 1.4 48.5/15.0 0.0 0.8 59.5 13.6 4.4 27.904 3.5/14.0 2.0 0.0 0.4 2.0 36.3 1.0 13.5 9.5 13.8 2.5 40.500 3.633 3.000 15 15 15 15 15 15 15 3.0 0.3 29.0 1.9 11.0/13.025 5.5 1.000 66.700 54.3 40.5 14.1 40.539 4.0/13.0 2.5 1.4 46.331 11.500 56.0 0.0 1.0 14.3 9.500 54.0 1.0 1.0 14.0 0.0 50.

682 1. (Lights) Rott.Bay/Japan 16m H.000 145.5/13.Australia Rotterdam Rotterdam Japan Rotterdam Rotterdam Japan Narvik/Rotterdam Tubarao/Rotterdam Tubarao/Japan 17m Nouadhibou/Rott.000 63.000 62.854 4.R.000 145.Med 72.5 13.000 135.5/13.3 43.0/13.0 46.Rds/Rotterdam Q'land/Rotterdam Q'land/Japan 17m R.5 14.757 29.544 3.544 4.854 4.000 138.0/13.000 122.275 12.500 12 13 13 13 4.5 14.247 3.000 12 12 13 13 13 13 3.854 4.5/13.500 4.Rott(Lights) USGulf/Rott(HSS) USGulf/Japan(HSS) Nopac/Japan 57.5 13.500 54. Speed Knots (L/B) Capesize Ore B1 B2 B3 B4 B5 B6 Narvik Tubarao Tubarao Nouadhibou W.5 13.0/13.682 12.544 13.9 14.5/13.544 4.0/13.275 7.Bay/Sp.Australia W.9 35.5/13.6 30.8 38.854 4.Annex 2(f) .5 14.9 13.5 Panamax Grain B12 B13 B14 B15 US Gulf US Gulf US Gulf Nopac Rott.5 13.854 4.0/13.128 4.Sources. Load Discharge Route Name in SIW (PreIssue No.943 3.974 4.000 145.943 3.9 63.2 72.Bay Hampton Roads Queensland Queensland Richards Bay Japan Rotterdam Rotterdam Japan Rotterdam H.Rd. W.375 63.5 13.5 14.0/13.6 55.6 39.500 54.5/13.0/13. Methods & Definitions CRS Voyages No.854 4.500 45.5 14.213 4. 503) Cargo Size Tonnes CRS Ship No.9 63.000 11 11 11 11 11 11 1.0/13.5 13.5/13.980 69.0/13.900 64.5 Clarkson Research Services 15 October 2010 .229 11.5 14.Aust/Japan 17m 145.5/13.606 71.762 4.5 13.2 20.000 11 11 11 11 11 15.5/13.329 3.525 2.633 3.974 11.Days Sea Margin Port Time Turn Time Canal Transit Total Voyage Time Oper.1 31.0/13.5/13.5 67.854 9.544 3.5 13. (HSS) Japan Japan USGulf.5/13.5 13.5 14.6 13.287 6.7 62.9 45.682 3. H.114 4.Bulkcarrier Voyage Details (Pre-2002) Shipping Intelligence Weekly .6 14.943 7.128 4.000 130.0 35.000 145. Voyage Dist.300 137.9 56.5 14.287 4.054 3.974 2.Rds/ARA USGulf/ARA Roberts Bank/Japan NSW/Cont Newcastle/Japan R.464 3.5 Panamax Coal B16 B17 B18 B19 B20 B21 Hampton Rds US Gulf Roberts Bank NSW Newcastle Richards Bay ARA ARA Japan Continent Japan Spanish Med.Rds/R.229 3.Aust/Rotterdam W.5 Capesize Coal B7 B8 B9 B10 B11 H.700 54.Bay/Rotterdam 132. Miles Laden Ballast Sea Time Voyage Time .

8 35. T60-T67.0 50.0 15.000 150.000 23.0 13. YoB.5 13.5 13.5 145.0 14.0 50.5 15. T7-T11.0 0.0 65.5 14. s /h) "LR2" (Afram ax) Products "LR1" (Panam ax) Products "MR" Handy (Clean) "SR" Handy (Clean) Dirty Products "MR" Handy (m odern.0 19. Cons.0 0.5 13.5 1.4 121.4 25.0 404.0 30.0 0.5 58.497 89.5 0.5 6.000 106.0 0.000 29.000 140.5 14. T7-T11.5 0.5 2. T39-T47.0 14.000 275.0 13.0 280. s /h) Suezm ax (m odern.500 73.0 14.8 26.0 50.0 0.0 24. T32.699 300.000 23.0 0.0 39.0 69.0 39. d/h) Afram ax (early 1990s .0 15.0 14.0 0.0 0.0 13.0 2.0 20. T7-T11.5 14.0 2.000 70.2003 1 2 3 4 5 6 7 8 9 10 11 12 ULCC VLCC (m odern.0 100.5 15.5 14.0 14.0 404. T73. T84-T86.0 0.0 6.5 32.0 0. s /h) Suezm ax (m odern. T24.746 139.0 19.9 24.0 87.0 28.0 55. d/h) "SR" Handy (early 1990s ) 337. T25-T27. 1997 .Sources.0 0.0 14.0 87.0 20. T68-T71.0 34.0 13.0 6. T49-T51.0 14.0 28. Clarkson Research Services 16 October 2010 .000 47.0 0.0 116. T92.5 0.5 84. Cst380 Laden Ballast MDO Cst380 MDO 53. T73-T75.0 150.0 15.0 14.4 92.0 0.0 110.0 20.5 24. T14-T20.0 18.4 19.0 21.000 275. mt.0 2.0 0.0 74.0 52.0 118. d/h) "MR" Handy (m odern.0 80.8 67.0 74.0 15.Annex Weekly .0 13.0 2.0 0.0 14.0 13.500 70.0 43.0 24.5 13.5 5. T12-T14.000 140.0 0.0 400.0 2.000 106. T49-T51.5 41.0 14.0 106.000 Late '80s 29.0 30.5 2.0 67.0 40.9 159.0 1. T90.5 15. T28-T32.0 3.5 6.699 291.0 96.699 300.2 20.000 70. T33-T34.0 32.0 60.0 14.4 45.0 14.0 145.0 13.0 260. d/h) Suezm ax (early 1990s .5 13.7 31.0 0.0 13.000 1975 2000/01 1990/91 1998/99 1990/91 1999/00 1990/91 late '90s early '00s 1988 1989 2000 T1.0 106.9 48.5 15.0 50.0 2.0 43. s /h) VLCC (m id 1970s .0 133.Tanker Vessel Details & Definitions Vessel Type Used CRS No Ship Type Dwt Avg.0 41.0 32. T21-T23.0 20.0 50.0 14.0 14.0 0. Methods Shipping Intelligence 3(a) .0 0.0 67.0 4.0 300. T52-T59. T74-T75.0 14. 15.0 40.9 27.0 23.000 1975 2000/01 1990/91 1998/99 1990/91 1999/00 1990/91 late '90s early '00s 1988 1989 2000 1999 1999 early '90s T68-T71.0 20.5 13. T12-T13.4 45. s /h) "LR2" (Afram ax) Products "LR1" (Panam ax) Products "MR" Handy (Clean) "SR" Handy (Clean) Dirty Products 337.0 195. 14.0 280.0 0.900 Mid '80s 23.0 32.0 14. T82.0 39. Applicable CRS Voyages 2004 Onwards 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 ULCC VLCC (m odern.0 13.0 0.955 Late '80s 39.0 10.0 14.0 0. s /h) Suezm ax (early 1990s .0 118.0 0. T60-T67.0 0.000 96. T24.4 0.0 0.0 0.0 13.5 43.5 13.0 14.0 20.5 14.0 50. T83.0 1.000 150.0 2.5 13.0 12.0 3.0 15.0 30. T48.0 60.0 14. T35-T38.0 2.0 13.000 37.5 13. T35-T38. s /h) Afram ax (m odern.0 0.5 15.0 0.000 39.0 14. T72.400 Late '80s Note: The Standard Clark son Research Ship Types have b een selected in conjunction with Clark sons b rok ers.8 28.5 13.0 30. mt.0 240. T76-T78.000 39.8 30. T87-T89.0 0.0 0.0 26. d/h) VLCC (early 1990s .0 0.0 15. T12-T13. T91.5 13.0 41.636 1975 m id-90s m id-70s 90s 80s T1. T28-T31.0 14. T33-T34.0 0.0 58.0 0.0 10.0 24.0 2.0 18. d/h) VLCC (early 1990s .000 106.636 106.5 14.0 45. T33-T34.0 0. d/h) Afram ax (m id 1980s ) OBO (m id 1980s ) Clean tanker (late 1980s ) Clean tanker (late 1980s ) Clean tanker (m id 1980s ) Clean tanker (late 1980s ) 337.0 5. T25-T32.0 0.0 30.0 13.640 277.0 45. T72.5 13.0 0.0 14.0 0. s /h) Afram ax (m odern. in Port.0 50. d/h) Suezm ax (early 1990s .0 3. Pre-1997 1 2 3 4 5 6 7 8 9 10 ULCC (m id 1970s ) VLCC (early 1990s .0 13.5 0.0 14.0 49.0 60.0 27.0 20.5 133.5 13. T25-T27. d/h) Afram ax (early 1990s . T52-T59.0 T39-47.5 13.0 0.5 14.0 Speed Laden Ballast Knots Knots Consumption At Sea.5 0.5 15.0 24.0 32.0 0.0 56.000 89.5 15.700 80s 83. T79-T81.0 25.5 13. T24.0 13. T2-T6.0 19.

0 0.1 33.0 13. B13-B15. Pre-2002 14.5 1.0 0.282 1990/92 1982 1984 B1-B11.4 32. OBO) Capesize (early 1990s) Capesize (modern) 170.0 14.5 13. B55-60.5 13.8 0. B44-B54.5 58.0 15.1 33. Capesize (modern) 170.0 3. B18-B21.0 4.395 65.Bulkcarrier Vessel Details Shipping Intelligence Weekly .0 36.0 13.5 30.0 15.282 1984 Panamax (OBO) 75.5 13.513 1991 B2-B6.0 2.0 1.7 27.0 3. B83.0 36.0 2.Vessel Type Used CRS Applicable Dwt YoB. 13.0 4.Feb 2008 2.5 14. B8-B11.5 0.5 14. B80-B82.0 1. Clarkson Research Services 17 October 2010 .0 5.8 28. B35-B39.0 1.5 14. B41-B43.0 14.0 0.0 Note: The Standard Clarkson Research Ship Types have been selected in conjunction with Clarksons brokers.0 33.5 13.7 27.5 13.0 13.0 2. B67. B22-B26.0 4. March 2008 Onwards Voyages Knots Avg. in Port.0 1.5 14. 14.282 1999/00 1990/91 1997-98 1982 1984 B27-B40.5 44. B22-B25. mt.0 13.0 2.0 0.0 3.5 41. mt.0 0.5 13. CRS Laden Speed Ballast Knots Consumption At Sea. Cst380 Laden Ballast Cons. B75-B79.0 11 12 13 Capesize (early 1990s) Panamax (early 1980s.7 27.0 14. 17 18 19 20 21 22 Supramax 52.395 1982 Panamax (mid 90s) 70.0 33.0 0.0 14.0 2.0 41. B12.5 1.000 75. B16.395 65.0 13.0 0.0 14.0 33.5 2.0 3.5 4.0 58.0 2002 . B48-B54.0 33.0 58.Sources. B16.5 0.4 44.0 41. B41-B43.5 58.5 30.0 0.5 14.5 13.0 0.5 14.450 2000 B27-B33.0 0.1 33.000 1996 Capesize 149.0 5.450 149.513 75.5 44.0 2.0 2.5 13.0 2.5 36.0 1. B13-B15. Methods & Definitions No Ship Type MDO Cst380 MDO 16 B61-B66.454 1997 Panamax (2001) 74.0 13 14 15 16 17 Panamax (mid 1980s) Panamax (mid 1990s) Panamax (early 1980s. B68-B74.4 32.0 30.0 3. Annex 3(b) . B16-B17. B18-B20.0 0.513 70.8 0. B2-B3.0 0.000 2001 Panamax 65. B5-B11.0 14. OBO) Panamax (mid 1980s) 149. B12.0 30.0 1. B18-B20.

(b) The Handysize dry bulk carrier is a ‘modern’ vessel.0 14.500 dwt.000 52.0 14. mt.0 Consumption At Sea.0 0.5 # Ballast 28 * 30 * 29.0 MDO Panamax Supramax Handymax 74. between 28-30.000 dwt and fitted with cranes between 25-30 tonnes.5 14.0 14.000 dwt ‘modern’ vessel. ‘Modern’ is taken to mean no more than ten years old. age 7 years 10 years 15 years Speed Laden Knots 14. The above specifications are meant to be guidelines only.5 # 0. 2.0 Ballast Knots 14. Annex 3(d) .0 0. and not actual ships. Note: 1. Methods & Definitions Specifications of timecharter ships on page 9 of SIW: (a) “CSBC” is China Shipbuilding Corporation of Taiwan style of Capesize built in the 1980s and 1990s of approximately 149.BIFFEX Standard Vessel Details Vessel Type Used Ship Type Dwt Max.Timecharter Vessel Details Shipping Intelligence Weekly .496 Clarkson Research Services 18 October 2010 . Cst380 (*)/Ifo180(#) Laden 32 * 30 * 29.Annex 3(c) .Sources. between 5-10 years old. (d) The Super Handymax (“Supramax”) is a 52. (c) The Handymax is 45.454 45. This was 40.000 dwt.000 dwt until February 2002.

P—ddo˜ FO—d$˜ DO—d$˜ SM P—d$˜ C—d$˜ Voyage time: D T General L B P FO DO Laden Ballast In port Fuel oil Diesel Oil Voyage Time Turn time days days Days Laden Days Ballast Days in Port Canal days FO Cons.Sources.t. Port cons. B—ddo˜ P—dfo˜. Methods & Definitions Tanker Calculations EARNINGS: (E) E = (R-C)/D REVENUE: (R) V*($*WS/100) GRT*OPA COSTS: (C) (D—dl˜*SM)*L—dfo˜*FO—d$˜ (D—db˜*SM)*B—dfo˜*FO—d$˜ (D—dl˜*SM)*L—ddo˜*DO—d$˜ (D—db˜*SM)*B—ddo˜*DO—d$˜ P—dfo˜*FO—d$˜ P—ddo˜*DO—d$˜ GRT*OPA P—d$˜ C—d$˜ laden fuel oil cost ballast fuel oil cost laden mdo cost ballast mdo cost port fuel cost port mdo cost OPA premium port charges canal charges $ $ $ $ $ $ $ $ $ freight revenue OPA costs revenue $ $ COSTS: (C) ((D—dl˜*SM)+D—dc˜)*L—dfo˜*FO—d$˜ (D—db˜*SM)*B—dfo˜*FO—d$˜ (((D—dl˜+D—db˜)*SM)+D—dc˜)* L—ddo˜*DO—d$˜ (D—dp˜+T)*P—dfo˜*FO—d$˜ (D—dp˜+T)*P—ddo˜*DO—d$˜ P—d$˜ C—d$˜ port FO cost port DO cost port charges canal charges $ $ $ $ laden FO cost ballast FO cost Total DO cost $ $ $ average earnings $/day Bulkcarrier Calculations EARNINGS: (E) E = (R-C)/D REVENUE: (R) V*F freight revenue $ average earnings $/day VOYAGE TIME: (D) (D—db˜+D—dl˜)*SM+D—dp˜ KEY: Earnings: E R C D Revenue: V WS $ GRT OPA Costs: D—dl˜ D—db˜ D—dp˜ L—dfo˜. DO Cons.t.Annex 4 . B—dfo˜ L—ddo˜.t. P—ddo˜ FO—d$˜ DO—d$˜ SM P—d$˜ C—d$˜ Voyage time: D General L B P FO DO Laden Ballast In port Fuel oil Diesel Oil Voyage Time days Days Laden Days Ballast Days in Port FO Cons. Cost FO Cost DO Sea Margin Port Charges Canal Charges days days days m.t. Cost FO Cost DO Sea Margin Port Charges Canal Charges days days days days m./day m. DO Cons.Earnings Equations Shipping Intelligence Weekly ./day tonnes $/tonne $/tonne Fixed 5% $ $ Cargo Loaded Worldscale Rate Worldscale Basic Vessel grt OPA Premium tonnes rate $/tonne grt $/grt Earnings Revenue Costs Voyage time $/day $ $ days total voyage time days VOYAGE TIME: (D) (D—db˜+D—dl˜)*SM+(D—dp˜+T)+D—dc˜ KEY: Earnings: E R C D Revenue: V F Cargo Loaded Freight Rate ton(ne)s $/ton or $/tonne Earnings Revenue Costs Voyage time $/day $ $ days total voyage time days Costs: D—dl˜ D—db˜ D—dp˜ D—dc˜ L—dfo˜./day m. P—dfo˜ L—ddo˜. B—dfo˜./day $/tonne $/tonne Fixed 5% $ $ Clarkson Research Services 19 October 2010 . B—ddo˜.

Accordingly. could have been misleading. without suitable guidance and explanation. These volumes culminated in December 2009 .Annex 5 . Methods & Definitions Note Re Secondhand Price Benchmark Publication (p. Clarkson Research Services 20 October 2010 . Clarkson Research Services Limited (CRSL) suspended their publication of second-hand benchmark prices in Shipping Intelligence Weekly (SIW).the most active month since May 2008 reported across the sectors covered in the benchmark tables. (partly due to the difficulties in securing bank finance). and remained the leading supplier of valuations to the shipping industry. The historical time series in the intervening period have been placed on Shipping Intelligence Network (SIN) but users should treat the data with caution and be aware of the periods of uncertainty discussed above. In January 2010. CRSL resumed its publication of values in SIW – this decision was made on the basis that liqidity had returned to all the markets covered and the start year was a clean and convenient point in time to resume. CRSL felt this was an important and responsible action to ensure prices produced as benchmark figures.8) Following the period of financial market turbulence in September 2008.Secondhand Price Benchmark Publication Shipping Intelligence Weekly . This action recognised the difficulties in giving a representative benchmark value to the market considering the rapidly changing price levels. it could have been misleading to give a benchmark index valuation without proper accompanying guidance. Additional wording was developed to explain the difficulties involved in the valuation process and a regular dialogue was entered into with clients to highlight the complexities and where confidence limits on valuations were wider than normal.Sources. as guided in SIW throughout the period of non publication of the benchmark index values. if the reader needed any valuation guidance Clarkson Valuations Limited (CVL) continued to actively provide specific valuations. The Sale and Purchase markets had returned to some form of normality with more stable pricing and greater sales volumes. including for its wide range of existing clients. and wide spread of price ideas of sellers and buyers. To this extent. low levels of sale and purchase activity.