EMEA News
Bunker Shortage at Russian Port of Novorossiisk
Market sources say a lack of bunker supply at Russia's Black Sea port of Novorossiisk has become severe and could persist for weeks to come, Platts reports.
As Ship & Bunker previously reported, crude oil deliveries being diverted from domestic refineries for export had raised resupply concerns at the port of Novorossiisk late last week.
While MGO and 700 cSt product is available at the port, supplies of 380 cSt and 180 cSt was said to be scarce, with one source noting that it had taken one ship three days to obtain a 400 metric tonne (mt) stem.
While it is not uncommon for Novorossiisk to have tight supplies, a reduced crude export tax, which has made exportation a more attractive option to oil companies than refinement, is said to be one of the reasons for the current availability problem has been called "extreme."
On Monday, Ship & Bunker reported that bunker prices at the Russian port of St Petersburg rose last week, breaking the $100 (pmt) mark for the second time this year, with reports suggesting that there was little IFO380 available for the spot market.
