ShippingWatch

Shipping costs soar as Russian fallout upends fuel flows

The Ukraine war’s disruption of global fuel markets has increased prices on clean tanker freight.

Photo: Uncredited/AP/Ritzau Scanpix

The dislocation of global fuel markets after Russia’s invasion of Ukraine has boosted the cost of shipping products such as diesel by sea.

Rates to haul fuels such as gasoline and diesel, known in the industry as clean tanker freight, have more than doubled this year to the highest since April 2020, according to Baltic Exchange data. On one key route in Asia, ship owners are now earning over USD 47,000 a day transporting products from South Korea to the distribution hub of Singapore, compared with USD 98 a day prior to the war.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Business profile leaves Bunker Holding

Bunker Holding loses prominent board member, who is former partner and executive in private equity firm EQT and who furthermore leaves the board in Uni-Tankers. Two new members join the board.

Further reading

Related articles

Latest news

See all jobs