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Worldscale-rate

Worldscale is a unified system of establishing payment of freight rate for a given oil tanker's cargo. Prices are an agreed upon percentage of the published Worldscale rate, with Worldscale 100 meaning the rate will be the Worldscale published rate, Worldscale 125 would be 125% of the rate and Worldscale 75 would be 75% of the published rate. Prices fluctuate in negotiations according to market conditions.