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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Gazpromneft Marine Bunker achieves 16% rise in north-west Russia sales

Firm says development of the Northern Sea Route was a key factor that led to the increase.





Updated on 08 Aug 2017 08:41 GMT

Gazpromneft Marine Bunker, operator of Gazprom Neft's bunkering business, reports that during the first half of 2017 it recorded sales of 516,800 tonnes of marine fuels at ports throughout north-west Russia - a 16 percent increase year-on-year.

The bunker supplier explained that growth in north-west Russia was the result of the development of the Northern Sea Route - the shipping route that lies in Arctic waters and within Russia's Exclusive Economic Zone (EEZ).

In Murmansk, in particular - the main port providing fuel to Arctic vessels - Gazpromneft Marine Bunker said deliveries rose by a factor of 2.2, to 133,200 tonnes.

At the Baltic ports of St Petersburg, Ust-Luga, and Primorsk, which are subject to a cap on sulphur content and where the Russian firm operates, Gazpromneft Marine Bunker said it achieved sales of 72,400 tonnes of ultra-low-sulphur fuels, exceeding H1 2016 sales by 24 percent.

Gazpromneft Marine Bunker CEO, Andrei Vasiliev, explained that the company's key concern in a "rapidly changing" market was improving business efficiency.

"The first half of this year has seen us making significant progress in this area," Vasiliev noted.

"Growth data in the highly competitive market of the north-west region, moreover, indicate[s] that we have managed to fine-tune an optimal working model, and are successfully adapting to new external conditions, making it possible to continue moving forward towards achieving the goals outlined in the company's long-term strategy," Vasiliev added.

Image: Andrei Vasiliev, CEO of Gazpromneft Marine Bunker.






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