Russia's Oil Exports Slow as Black Sea Loading Takes Longer

Russia Ships Less Crude on Slowdown in Black Sea Loadings Loading rates at Novorossiysk have slowed with ships moored for twice as long as normal Russia is shipping less crude, as operations at its key Black Sea port slowed again amid rising security fears in the area. In the four weeks through Oct. 11, overseas crude flows fell to 3.7 million barrels a day, tanker data compiled by Bloomberg showed. That was down by 110,000 barrels a day from the revised figure for the period to Oct. 4. Satellite images of the Sheskharis oil terminal at Novorossiysk show that tankers are spending four days moored at the main crude berths. That’s twice as long as similar-sized ships take to load at Russia’s Baltic facilities and has contributed to a marked slowdown in cargoes leaving the port. A fully-laden tanker was hit by drones after leaving Novorossiysk early last week, heightening worries among ship owners and crews around loading at the port.