EMEA News
FESCO Bunker Volumes Drop 76%
Russia's FESCO Transportation Group (Fesco) has reported a big drop in bunker volumes for the 11 months ended November 30, 2016.
The company said it sold 100,400 tonnes during the period, marking a 75.8 percent decline from the 415,600 tonnes recorded during the same period of the previous year.
While Fesco did not elaborate on the circumstances behind the sharp drop in volumes, last November the company said it had reviewed and decided to "significantly reduce" its marine fuel operations.
However, during the month of November the company's bunkering division sold 15,400 tonnes of fuel, more than double the 6,600 tonnes sold during the month of October.
In November, Ship & Bunker reported that FESCO, in its results for the nine-month period ending September 30, saw its bunkering revenue decrease by 84.9 percent year on year to $15.3 million, compared to $101.4 million during the same period of 2015.
