Freight rates stall for Asia-bound Russian Urals oil
MOSCOW, Nov 1 (Reuters) -Freight rates for tankers carrying Russia's flagship Urals crude from its Baltic ports to India have stalled on expectations of declines in oil exports from Moscow's western ports in November, trading and shipping sources said.
Weaker prices for global benchmarks could increase pressure on Urals freight rates, as FOB prices for the grade below the price cap of $60 per barrel could attract more Western shipowners to the market, the three sources added.
Urals prices in Russian ports have stayed below the $60 per barrel almost all the time since mid-October, LSEG data shows. URL-PRMSKURL-NVRSK
Under the terms of the cap, buyers can only use Western services such as shipping and insurance when Russian crude trades below $60 per barrel.
"Freight rates are low and they are not going up. The cost of a voyage (for a 100,000-tonne Urals cargo from Baltic) to India is still around $5.1-$5.2 million," one trader said on condition of anonymity.
Freight rates from the Baltic ports of Primorsk or Ust-Luga to ports in western India have risen to $5.5 million this month from multi-month lows around $4.3 million earlier this year.
The cost of a one-way voyage from Russia's Baltic ports to India, however, is still well below the $7.7 million hit in early 2024.
Russia's crude oil exports from its three main western ports will fall by 13% in November from the previous month to 1.95 million barrels per day (bpd) from some 2.25 million in October, following the end of the refinery maintenance season, Reuters sources said last week.
The U.S., other Group of Seven (G7) countries and Australia imposed the price cap in December 2022 to try to reduce Russia's revenue from seaborne oil exports as part of sanctions prompted by its military actions in Ukraine.
Reporting by Reuters; editing by Barbara Lewis
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
