Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The cost of shipping
Urals oil from the Baltic ports of Primorsk and Ust-Luga to India fell to $7
million per one-way shipment on average after rising to a 12-month high early
in March. Freight rates for Russian oil supplies from its Baltic ports to India
are declining from recent record highs amid an increase in offers from Western
shipowners after Urals crude oil prices fell below a price cap of $60 per
barrel.
The
Group of Seven countries, in coordination with the EU, imposed the price cap in
late 2022 that blocked access to Western shipping services and insurance if
Russian oil was purchased at more than $60 a barrel, aiming to reduce Moscow’s
ability to finance its Ukraine war.
The cost of shipping Urals oil
from the Baltic ports of Primorsk and Ust-Luga to India fell to $7 million per
one-way shipment on average after rising to a 12-month high early in March.
Global oil prices fell in March, which pushed the price of Urals crude in
Russia’s ports below $60 per barrel, allowing more Western shipping companies
to resume services for Russian oil, including freight.
The
latest cost of Urals oil loaded from the port of Primorsk was about $57 per
barrel. Freight rates for Russia’s crude
may fall further amid a maritime and energy truce between Russia and Ukraine,
if implemented. It is not clear when or how the Black Sea maritime security
deals would start.
