Shipping costs soar as Russian fallout upends global fuel flows

Quick Summary

June 23, 2022 7:48 AMRates to haul fuels such as petrol and diesel have more than doubled this year to the highest since April 2020.

The cost of shipping fuel from the US to Brazil on the TC-18 route was at US$37,000 a day, up from US$3,800 a day four months ago.

The Russian invasion has exacerbated a tightening of energy markets, upending trade flows and forcing buyers to scour the world for alternative fuel supplies.

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Article Details

Category: Economy

Topics: Months Tanker Route Invasion Rates Fuel Diesel Fuels Haul According Freight

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 07:48:41

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 3 minutes read

Article Length: 539 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 4854

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