World News
Illegal Bunker Export Scheme Uncovered by Baltic Customs
Baltic custom authorities have uncovered a bunker fuel scheme in which it says more than 12,000 tonnes of fuel was illegally exported outside the territory of the Eurasian Economic Union as stores in order to avoid payment of custom fees, PortNews IAA reports.
While the fuel was shown in documents to have been intended for Russian fishing vessels operating outside Russian territory, which are not subject export customs duties, Baltic Customs is reported to have found that the fuel was instead being sent to a foreign port instead of being delivered to the intended vessels.
An unnamed company is said to have since been charged with customs dues and a penalty of more than RUB 95 million ($1.53 million), and two criminal cases have been initiated against the head of the company.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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