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Infrastructure - MAY 26, 2022

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European petroleum tanker rates rise due to geopolitical instability and marine fuel costs

by Released

Petroleum tanker rates for routes originating in Europe rose to record highs in April 2022 because of geopolitical instability related to Russia’s full-scale invasion of Ukraine and rising marine fuel prices, also known as bunker fuel, according to the U.S. Energy Information Administration (EIA).

Dirty tanker rates for Aframax-sized vessels originating in the Black Sea in southeast Europe increased to $32.10 per metric ton in April 2022, more than triple the $10.11 per metric ton  price in January 2022. The tanker rates for routes originating in the Baltic Sea in northern Europe reached $41.38 per metric ton  in April 2022, up from $7.50 per metric ton  in January 2022.

Petroleum tankers are generally classified into two groups: clean tankers and dirty tankers. Clean tankers carry lower-sulfur petroleum products, including refined petroleum products such as motor gasoline, diese

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