Cheap bunker in Russian ports in the Far East, such as Vladivostok and Nakhodka, are taking a big toll on revenues in major Chinese port Shenzhen, where bunker sales have declined 20 percent since the beginning of 2013 due to the competition from Russia.
Maersk Line, Yang Ming, Hanjin Shipping, Hyundai Merchant Marine, and other major carriers are increasingly buying oil in Russian ports, where prices are USD 100-150 lower per mt (metric tonne), a source from Shenzhen Brightoil tells Platts, according to newsletter Ship&Bunker.
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