World News
Vladivostok Expected to Take Market Share from East Asia in 2016
The Port of Vladivostok in Far Eastern Russia is expected to take more market share from East Asia following its designation as a free port in 2016, Seatrade Maritime reports.
Fuel in Far Eastern Russia is cheaper than in many other markets, which has led the government to impose extra duties for ships who only call on the port for bunker fuel.
"With Vladivostok as a free port, there is a possibility that the tax on bunkers-only call will be lifted," said an unnamed bunker manager.
"Otherwise, the vessel on bunkers-only call may only need to pay 50 percent of port charges, without the need to arrange cargo works."
Already, Singapore-based bunker traders have reportedly seen some lost business go towards Russian ports.
The ports of Nakhodka, Storvyankor, Vladivostok, and Vostochny have purportedly seen steadily rising volumes of bunker fuel sold in recent years, with Nakhodka having been earmarked as the next port to have its bunkers-only call duty lifted, according to industry insiders.
Earlier this year, it as reported that that the Russian Far East market had doubled, hitting 47 percent of national bunker sales.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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