Freight rates for Russia’s Urals weaken on tonnage overhang, sources say
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Freight rates for Urals crude shipments from Russia to India have declined due to seasonal factors and an oversupply of vessels. The cost of shipping has dropped significantly, with estimates suggesting a potential increase in Urals prices by $3–$7 per barrel. Demand in India remains strong, supported by U.S. sanctions waivers. Shipping costs for Aframax and Suezmax tankers have also decreased, while oil exports through western ports rose by approximately 150,000 barrels per day in early May.
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