World News
Italy Seizes $578 Million Yacht of Russian Oligarch Melnichenko
Saturday March 12, 2022
The Italian authorities have detained the yacht of billionaire Andrey Melnichenko as regulators in the West widen the scope of sanctions against Russia.
The 143m $578 million Sailing Yacht A was detained at Trieste on Saturday, news agency Reuters reported. The vessel is the world's largest sailing yacht.
Melnihenko's name was added to the EU sanctions list last week. The billionaire is the owner of fertiliser producer EuroChem Group and coal firm SUEK.
The Russian invasion of Ukraine is set to have wide-ranging impacts on the shipping and bunker industries, with many firms now avoiding deals at Russian ports and some also shunning fuels and cargoes of Russian origins.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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