/Reuters Agency
Crude loading operations at the Russian port of Novorossiysk are delayed by two to three days due to damage caused by a Ukrainian attack on November 14, which has limited the capacity of a key berth at the terminal, three sources familiar with the matter told Reuters.
The Novorossiysk port facility on the Black Sea and a neighboring terminal of the Caspian Pipeline Consortium – through which one-fifth of Russia’s crude exports flow – suspended oil shipments on Friday the 14th following the attack. Novorossiysk resumed them on Sunday the 16th.
The Ukrainian attack on the Sheskharis oil port in Novorossiysk damaged berths 1 and 1A, which handle large Suezmax-type tankers of 140,000 deadweight tons.
“The loading of Suezmax-class tankers has been transferred to berth 1A,” one of the sources said. “Berth 1 remains inactive,” they added.
The situation indicates that some of the equipment damaged at one of the Suezmax vessel berths has not yet been repaired, which will make it difficult for the port to immediately recover the lost loading days and return to its usual schedule.
The Sheskharis oil port facility has two main piers. One with berths for Suezmax and Aframax class tankers, with a deadweight of 100,000 tons, and another suitable for smaller vessels.
The attack on Novorossiysk was the most damaging to date by Ukraine against key Russian crude export infrastructure in the Black Sea.
News of the attack caused oil prices to rise 2% on Friday, while information about the resumption of loadings caused prices to fall on Monday the 17th.
Industry sources said the port could catch up with the accumulated delay by the end of November, provided storms do not interfere with loading operations.
Russia exported 3.22 million tons, or 760,000 barrels per day, through Novorossiysk in October, according to industry sources, although November volumes are expected to be lower.
The Kremlin said on Monday the 17th that Russia had the capacity to quickly deal with the consequences of the attack and resume export activities.
Exports of Kazakh oil, which transit through Novorossiysk, could also suffer delays of 1 to 2 days, according to a trader, who added, however, that they expected to meet the planned schedule.
Kazakhstan exports oil to Novorossiysk via the Atyrau-Samara pipeline and the Aktau-Makhachkala-Novorossiysk route.
According to industry sources, these routes are expected to transport 430,000 tons and 170,000 tons respectively in November.
