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Media: Authorities to challenge Russian bunker market

The advantageous bunker market in Russian ports is now being challenged by the country's customs authorities which plan to prohibit the big bunker trade, reports Bunkerworld.

Up until recently, carriers have been able to save money by stopping at ports such as St. Petersburg, Vostochny and Vladivostok in the Far East when they needed to tank bunker. An advantage that the customs authorities in Russia will apparently attempt to block by prohibiting vessels that exclusively sail to the country for the sake of the cheap fuel, reports media Bunkerworld, citing several Russian media sources.

According to the customs authorities, a ban would yield more product for export, which would increase earnings from export duties. And duties on the export of fuel oil have contributed to making the prices in the Russian bunker market fall, because the Russian refineries sell the bunker to the shipping market instead of exporting it to the global markets - simply to avoid the extra duty.

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