MOSCOW (Reuters) -Crude loadings at Russia's Novorossiysk port are about two to three days behind schedule as damage caused by a November 14 Ukrainian attack has limited the capacity of a key jetty at
Novorossiysk Port Faces Delays in Crude Loadings After Attack
Impact of Jetty Damage on Oil Exports
MOSCOW (Reuters) -Crude loadings at Russia's Novorossiysk port are about two to three days behind schedule as damage caused by a November 14 Ukrainian attack has limited the capacity of a key jetty at the terminal, three sources familiar with the matter told Reuters.
The Black Sea port of Novorossiysk and a neighbouring Caspian Pipeline Consortium terminal, through which one fifth of Russia's crude exports flow, suspended oil exports on Friday after the attack. Novorossiysk resumed them on Sunday.
The Ukrainian attack on the Sheskharis oil harbour at Novorossiysk damaged berths 1 and 1A, which handle large 140,000-deadweight-ton Suezmax tankers.
Details of the Attack
RUSSIA SAYS IT CAN QUICKLY DEAL WITH THE CONSEQUENCES
"The loading of Suezmax class tankers has been transferred to berth 1A," one of the sources said. "Berth 1 is still idle".
Current Export Capacity
That indicates that some of the damaged equipment at one of the Suezmax-class berths has yet to be fixed, which will make it hard for the port to immediately claw back the days of lost loadings and get back on schedule, the source said.
The Sheskharis oil harbour has two main jetties: one has berths for Suezmax and Aframax class tankers with a deadweight of 100,000 tons. Another jetty is suitable for smaller vessels.
The attack on Novorossiysk was the most damaging to date by Ukraine on Russia’s main Black Sea crude export infrastructure.
News of the attack sent oil prices up 2% on Friday, and news that loadings had resumed sent oil prices down on Monday.
Market Reactions and Future Outlook
Industry sources said that the port could catch up on the backlog by the end of November as long as storms do not interfere with loadings.
Russia exported 3.22 million tons, or 760,000 barrels per day, through Novorossiysk in October, according to industry sources, though November volumes are expected to be lower.
The Kremlin said on Monday that Russia had the capacity to quickly deal with the consequences of the attack and to resume export activities.
Exports of Kazakh oil, which transit through Novorossiysk, may also be delayed by 1-2 days, one trader said, adding that, nevertheless, he hoped to meet the schedule on time.
Kazakhstan exports oil to Novorossiysk via the Atyrau-Samara oil pipeline and along the Aktau-Makhachkala-Novorossiysk route. Those routes should move 430,000 tons and 170,000 tons respectively in November, industry sources said.
(Reporting by Reuters. Editing by Guy Faulconbridge and Mark Potter)
