How much latency in optical fibre

I heard about IEX 38 mile/61 km of fibre which acts as 350ms "Speed Bump", but that didn't sound right to me because that distance isn't even that far, how can it add that much of a delay

I then found this online calculator: http://www.timbercon.com/time-delay-of-light-in-fiber-calculator which tells me that 61000m would add 300 ms. Doesn't quite match IEX's claims but still it seems that just 61 km can add this much latency.

I am in Melbourne, Australia and I ping a server in Sydney, Australia, which is about 714 km between them.

The server in Sydney pings at 26 ms.

According to the calculator, that would be 3500 ms.

What do I seem to be missing? Is there a mix up between milliseconds and microseconds somewhere?