Here's a different way to evaluate chartering alternatives

Oil company chartering managers must decide between chartering or not chartering and, if chartering, for what length of time. The problem is that only time can prove correct or incorrect whatever decision the manager makes today. The method suggested in this article accounts for the imponderable nature of future charter rates for chartering decisions made in the present.Spot tanker rates exhibit extreme volatility depending on the relationship between the number of cargoes and the number of ships. If the number of cargoes exceeds the number of ships, rates rise considerably. If the number of ships exceeds the number of cargoes, rates fall considerably. The middle ground is usually a matte...

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