Tankcar lease rates down in Russia

摘要

Russian oil tankcar lease rates fell for a fourth consecutive month in August,to Rbs970-1,030/d($13-14/d),excluding value-added tax(VAT),from Rbs1,000-1,070/d in July.Rates remain under pressure from a fleet surplus caused by lower shipments.Rising crude runs at Russian refineries suggest demand for rolling stock will rise,but this is yet to influence rates,market participants say.The cost of providing rolling stock-including leasing,repairs,preparation costs and operator margin-is unchanged at an estimated Rbs1,100-1,500/d.