Sales of bunker fuel in Russia are heading for a second straight year of decline due to a perfect storm of market and regulatory forces, a tandem that has been particularly acute in the country’s Far East. Over the long haul, market insiders are forecasting growth due to rising activity at Russian ports, but many are scratching their heads as to how quickly Russia’s marine fuels segment will be able to adapt to changing international standards for ultra-low sulfur emissions. The exact contours of this challenge are likely to be defined at an Oct. 24-27 meeting of the International Maritime Organization’s (IMO) environment protection committee in London.
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