Course 04 of 20 · Freight and Shipping Desk Academy

Freight Quotations, Worldscale & Hire Rates

Stage A, Shipping and voyage foundations. Level 2 of 10.

Converting between the conventions freight is quoted in: Worldscale points and flat rates, dollars per tonne, lumpsum and daily hire, and reading a rate back to a vessel day.

121 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 01, Course 02

Enrol or enquire See the 121 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

11 modules · 121 chapters

Open any module for its full chapter list, in teaching order.

M0 Four Prices for the Same Voyage Ch 1-10
  1. Why the Same Movement Carries Four Different Prices
  2. What You Are Actually Buying Under Each Convention
  3. Worldscale, Per Tonne, Lumpsum and Hire in One Glance
  4. How a Rate Reaches You and What the Channel Does to It
  5. The Basis Without Which a Number Means Nothing
  6. Gross of Commission and Net of Commission
  7. Reading a Rate Without Rebuilding the Owner's Sums
  8. Where the Level Itself Comes From
  9. The Vessel Day as the Common Denominator
  10. The Route Through This Course
M1 The Worldscale Framework Ch 11-22
  1. The Problem Worldscale Was Built to Solve
  2. A Nominal Freight Scale, Not a Price
  3. The Flat Rate as a Dollars per Tonne Reference
  4. Points, Percentages and What a Quote of WS100 Means
  5. How a Flat Rate Table Is Assembled
  6. The Annual Revision and the Rate That Moves Without the Market
  7. Saying a Worldscale Quotation Out Loud
  8. Points to Dollars per Tonne: The Core Conversion
  9. The Standard Vessel Hidden Inside the Scale
  10. The Standard Voyage Hidden Inside the Scale
  11. Why a Points Level on Its Own Tells You Almost Nothing
  12. Two Routes at Identical Points, Two Different Prices
M2 Applying a Worldscale Rate to a Real Cargo Ch 23-34
  1. From Points to Total Freight on a Named Parcel
  2. Which Tonne the Freight Is Actually Charged On
  3. Part Cargoes and the Quantity Step in the Scale
  4. Worldscale Below a Hundred: The Discounted Market
  5. Worldscale Above a Hundred: The Premium Market
  6. A Voyage the Scale Does Not Publish
  7. Combination Voyages and the Points That Cover Them
  8. Checking a Broker's Worldscale Arithmetic
  9. The Demurrage Rate Quoted Beside the Points
  10. Building the Freight Invoice From a Points Fixture
  11. One Parcel Priced at Three Point Levels
  12. What a Five Point Move Is Worth in Cash
M3 Worldscale Terms Beyond the Flat Voyage Ch 35-45
  1. The Terms the Scale Carries With It
  2. Fixed Differentials and the Route Actually Sailed
  3. Port Cost Differentials and Who Absorbs Them
  4. Deviation, Extra Steaming and the Points Added
  5. Overage: Freight on the Tonnes Above the Minimum
  6. Heating, Ice and the Clauses That Carry a Price
  7. Canal Transit Inside a Quoted Freight Rate
  8. Bunker Adjustment Against a Scale Built on Old Fuel Levels
  9. Currency and Escalation Against a Dollar Scale
  10. Lightering, Transhipment and the Second Delivery Point
  11. A Worldscale Rate Rebuilt Term by Term
M4 Freight per Tonne: The Dry Cargo Convention Ch 46-56
  1. Dollars per Tonne as the Plainest Freight Price
  2. Which Tonne the Dry Rate Is Paid On
  3. Freight on Weight or on Measurement
  4. Why One Per Tonne Rate Can Mean Two Different Costs
  5. Deadfreight: Paying for Tonnes You Did Not Load
  6. Quantity Options and the Rate That Follows Them
  7. Part Cargo and the Per Tonne Premium
  8. Turning a Per Tonne Rate Into Total Freight
  9. Two Per Tonne Offers on Different Parcel Sizes
  10. A Per Tonne Rate Expressed in Worldscale Points
  11. A Dry Cargo Freight Statement Built From a Rate
M5 Lumpsum Freight Ch 57-66
  1. Lumpsum as a Price for the Whole Ship
  2. What an Owner Gives Up by Quoting Lumpsum
  3. What a Charterer Buys With One Figure
  4. The Quantity Risk That a Lumpsum Removes
  5. When a Lumpsum Is the Only Workable Form
  6. Lumpsum Against Per Tonne on the Same Cargo
  7. A Lumpsum With a Quantity Range Attached
  8. Building a Lumpsum From a Per Tonne Idea
  9. Splitting One Lumpsum Across Two Cargo Lots
  10. A Lumpsum Read Back to Points and to Tonnes
M6 Daily Hire as a Quoted Rate Ch 67-77
  1. Hire as a Price for Time Rather Than Carriage
  2. The Day the Hire Rate Is Counted In
  3. Dollars per Day Against Dollars per Deadweight Tonne
  4. Hire Quoted for a Single Trip and for a Period
  5. The Delivery and Redelivery Points a Hire Rate Assumes
  6. What a Daily Hire Figure Does Not Include
  7. Ballast Bonus as Part of the Quoted Package
  8. A Hire Rate Linked to a Published Assessment
  9. Pro Rata Hire and the Arithmetic of Part Days
  10. Converting a Daily Hire Figure Into a Voyage Cost
  11. A Trip Hire Offer Set Beside a Voyage Rate
M7 Commission, Deductions and the Net Rate Ch 78-87
  1. Address Commission and Why It Comes Off the Top
  2. Brokerage and the Chain of Intermediaries
  3. Gross Rate, Net Rate and the Money Banked
  4. Commission Taken on Worldscale Points
  5. Commission on a Lumpsum and on Daily Hire
  6. Commission on Demurrage and the Items Beside Freight
  7. Taxes and Dues Quoted Against a Freight Rate
  8. Rebates, Allowances and the Effective Rate
  9. Reconstructing a Gross Rate From a Net Target
  10. One Movement Quoted Four Ways, All Net
M8 Reading Any Rate Back to a Vessel Day Ch 88-99
  1. The Vessel Day as the Unit That Compares Everything
  2. Counting the Days a Quoted Voyage Occupies
  3. Freight Earned Against Days Employed
  4. Which Costs Must Come Out First
  5. From Points to a Figure per Vessel Day
  6. From Dollars per Tonne to a Figure per Vessel Day
  7. From a Lumpsum to a Figure per Vessel Day
  8. A Hire Rate Needs No Conversion, and That Is the Point
  9. The Ballast Leg and the Days Nobody Quotes For
  10. Port Days, Waiting Days and the Divisor You Choose
  11. Why Two Desks Read One Fixture Differently
  12. The Daily Figure as a Screening Number, Not a Verdict
M9 Comparing Quotations Across Conventions Ch 100-110
  1. Putting Four Offers on One Basis
  2. The Minimum Information a Comparison Needs
  3. Normalising Quantity Across Competing Offers
  4. Normalising the Route and the Port Rotation
  5. Normalising the Dates Behind Two Offers
  6. How Firmly a Freight Indication Binds the Owner
  7. How Long a Freight Number Stays Good For
  8. The Offer That Wins Until You Add the Exclusions
  9. An Operator's Offer Against an Owner's Offer
  10. Ranking Offers When a Convention Hides the Risk
  11. A Comparison Sheet a Chartering Manager Can Sign
M10 Quotation Discipline and the Limits of Conversion Ch 111-121
  1. Writing a Rate Down So It Can Be Checked
  2. The Quotation Record and the Argument It Prevents
  3. The Arithmetic Errors That Recur Most Often
  4. The Errors That Survive a Second Check
  5. One Cargo, Four Quotations: The Brief
  6. One Cargo, Four Quotations: The Conversions
  7. One Cargo, Four Quotations: The Recommendation
  8. Presenting a Rate Comparison to People Who Did Not Build It
  9. What a Conversion Cannot Tell You
  10. The Numbers This Course Hands Forward
  11. Where These Conventions Are Used Next

The brochure gives each of these 121 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 4 of twenty

It stands alone, and it is also the entry point to the Freight and Shipping Desk Academy pathway.

Enrol or enquire See the whole pathway