Freight rates for Russian Urals oil shipments to India hit fresh records in early October
Traders said tightening tanker supply and Black Sea risks pushed Urals shipping costs to about $30 per barrel, squeezing Russia’s export margins.
- Freight rates for Russian Urals oil shipments to India hit fresh records in early October amid heightened risks in the Black Sea and a global tanker market rally.
- Moscow is forced to ship most crude volumes from western ports to Asian markets via lengthy routes, preventing Russia from fully capitalizing on high oil prices.
- Transporting Urals crude from the Black Sea to India on Suezmax tankers reached a record $27 million to $30 million per voyage, up from around $19 million in September.
- Aframax tankers moving cargo from Baltic ports to western India now average $21 million to $23 million per voyage, while some shipowners are quoting rates approaching $25 million.
- According to Reuters calculations, freight costs for exporting Urals crude to Asia currently amount to around $30 per barrel, reflecting record global hydrocarbon shipping costs.
12 Articles
12 Articles
Russian oil shipments to India rose to a record $27-30 million per flight, limiting Moscow's profits.
The cost of transporting Russian oil from Western ports to India hit record highs in early October. Freight for Urals to Asian markets is now around $30 a barrel or more, limiting Moscow’s benefit from high oil prices. The reasons are related to increased risks in the Black Sea and the continued rise in the cost of tanker shipping worldwide. Russia is forced to direct much of its oil from Western ports to Asia, mainly to India and China, via lon…
Higher freight costs prevent Russia from taking full advantage of high oil prices.
Transport costs reduce Moscow ' s benefits from high oil prices.
High oil prices in the world do not allow the Kremlin to earn as much as the Russian regime hoped. Ukraine's strikes on terminals and refineries have forced a change in the routes of tankers. The Urals oil freight breaks historical road records. And Russian mining has fallen sharply.
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