More Tankers Push down Urals Freight Rates to India

The fall in freight rates follows a rise in the number of tankers operating on the Russia–India trade route, improving vessel availability and creating a more balanced shipping market. Lower shipping costs are expected to enhance the economics of crude imports for Indian refiners, which have remained significant buyers of discounted Russian oil.      Market participants said the increased availability of tankers has helped moderate freight premiums that had risen during periods of tighter vessel supply and geopolitical uncertainty. The decline in rates is also expected to improve flexibility for charterers planning cargo movements over the coming months.       The easing of freight costs highlights the importance of tanker supply in determining shipping economics and could further support energy trade between Russia and India as global oil markets continue to adjust to evolving trade patterns and fleet availability.