The Industry
The freight that fuels us
Crude oil is a natural resource that comes from oil wells in the ground or in the seabed. Today, the main sources for oil are the Arabian Gulf, West Africa, the North Sea, Venezuela, USA, Indonesia and the former Soviet Union (Ural and Kazakhstan). From there, we collect the freight that fuels our company.
Stena Performance in South Carolina. The P-MAX vessels are designed and built to carry crude oil as well as refined petroleum products.
Oil and its prices
The benchmark crude for the North Sea is Brent Blend, which is traded on the International Petroleum Exchange (IPE). Other crudes, such as Nigerian, can be priced in relation to the IPE Brent. Another price base is the WTI (West Texas Intermediate), which is traded on Nymex (New York Mercantile Exchange).
Negotiate a specific route
When the freight is negotiated between the shipowner and the charterer, they use the index Worldscale (WS), which is a nominal scale where USD/mt rates for a specific route are stated. Market fluctuations are expressed as a percentage of the nominal rate, i.e. WS 50 is 50% of the nominal rate for the specific route.
To learn more about the industry we operate on, click the links below.
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The MAX-concept
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Fleet list
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Find out more about our 71 vessels. Classification, deadweight, age, etc…All the details you need to know. » Click here.
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