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Shipping Russian Oil Gets Costlier as Rates Near $350,000

  • Shipowners exercise caution about hauling the country’s crude
  • Rate surge makes it more expensive to ship Russian Urals oil
Updated on

Daily earnings for tankers shipping oil from Russia’s Baltic ports are soaring as shipowners continue to exercise caution about hauling the country’s crude. 

It now costs more than $348,000 a day to charter an oil tanker from the port of Primorsk to northwest Europe. That’s the highest since at least 2008, according to data from the Baltic Exchange in London.