West Asia Conflict Pushes Crude Oil Shipping Costs to Nearly Five Times February Levels - India Seatrade News
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West Asia crisis drives India’s crude oil shipping costs up nearly fivefold; Strait of Hormuz remains in focus
NEW DELHI: The escalating geopolitical crisis in West Asia has significantly disrupted India’s crude oil shipping economics, with tanker freight rates on some Gulf-to-India routes climbing nearly fivefold compared with February levels. The surge in transportation costs has weakened the traditional freight advantage of sourcing crude oil from Gulf producers and made alternative supplies from […]
West Asia Conflict Pushes Crude Oil Shipping Costs to Nearly Five Times February Levels - India Seatrade News
The West Asia conflict has sharply increased tanker freight rates for crude oil shipments to India, with costs on some routes rising nearly fivefold since February, eroding the traditional shipping-cost advantage of sourcing oil from the Gulf. According to Drewry Maritime Research, freight rates from Fujairah in the UAE to India’s west coast surged 377% […]
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