Free Trial

Baltic to India Urals Shipping Costs Slipping

OIL

Shipping costs for Russian Urals from the Baltic to India for July loading have eased to a six month low according to Reuters sources.

  • Urals crude oil cargoes loading from Ust-Luga, Primorsk and Novorossiisk ports in May are trading well below the price cap limit of $60 per barrel despite a narrowing discount to Brent and lower freight rates.
  • The cost of shipping Urals from Baltic ports to India in July fell to as low as $6.1 million per voyage, while some vessels were fixed at around $6.4 million. This is down from $6.9-$7.3 million for June parcels.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.