Bunkerworld: Tanker Flat Rate in 2012 to Rise on Higher Bunker Costs

“The higher tanker flat rates issued by the Worldscale Association for 2012 reflects the increase in fuel costs seen over the course of this year, according to Poten & Partners. Tanker flat rates in a sample of benchmark trades issued by the association for next year averaged 20% higher than 2011 levels, the broker noted in a report released on Friday. . . . ‘The cost of marine fuel tends to rise and fall with the price of crude oil, and volatility over the past years has caused material fluctuations in Worldscale rate levels,’ Poten said.”