The scarcity of the resource has led to an increase in its cost.
There is a shortage of marine fuel in the Far East, which has led to an increase in the price of the resource.
According to the analytical department of IAA "PortNews", in comparison with the same period last year, the price growth for November 2023 for all types of fuel amounted to 50%. Prices for IFO 380 increased by 65%, VLSFO 0.5 fuel went up by 37%, MGO - by 29%.
According to market participants, due to the shortage of the resource when purchasing through the commodity exchange of St. Petersburg, one has to wait up to two months for delivery, as the exchange has the right to delay fuel shipment for 29 days, and transportation of cargo by Russian Railways takes another month.
At the same time, fuel from local producers, such as Rosneft and NOC, is available at regional oil depots, but is more expensive.
Bunker market participants noted that the situation has only gotten worse after Russian oil products were shipped for export and the tense situation with transportation of oil products by rail.
The volume of bunkering in the port of Vladivostok decreased by 11% over ten months.