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Fri 7 Jan 2011, 11:15 GMT

Russia: Export duty set to hit bunkers-only calls

Changes to Russian port regulations from January 2011 will mean that vessels taking on bunker fuel without carrying out cargo operations will now be forced to pay an export duty, sources have informed Bunker Index.

The new regulations will be of particular relevance to the Far East Russia bunker market, where ships have been able to work cargoes at ports such as Vanino and then refuel at Vladivostok roads where bunker prices have been cheaper.

As of January 1st 2011, the duty on fuel oil has risen by US$5 to US$121.9 per tonne, up from US$116.9 per tonne in December. The duty on light refined fuels, which also includes marine gas oil (MGO), is $226.2 per tonne compared to $217 per tonne in December.

Up until this month marine fuel delivered to oceangoing ships in Russian ports has been exempt from export duty, which in turn has enabled ports such as St. Petersburg to offer some of the lowest bunker prices in the world. However the new ruling means that only vessels carrying out cargo operations will continue to be exempt from the government oil product taxation.

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