The Times of Central Asia assembled the set on Thursday, crediting the charter rate to Bloomberg and the insurance range to insurers it does not name. The shape of the week comes from eight trading sources who told Reuters that the terminal suspended operations repeatedly and was shut again by Wednesday.
Three desks, one risk. The charter rate is nearly double where it stood a month ago. War-risk cover was near 1% two weeks earlier. CPC Blend, which had been trading at a premium, is now offered at a discount.
FESCO suspended operations in the area on 4 August. Two tankers were hit on 30 July: the Nissos Sifnos while loading at SPM-3, the Marathi while waiting offshore. Neither crew was hurt, and no pollution was reported.
“The route still loads. What has changed is what it costs to be the ship that loads there.”
We published July's production count on Wednesday: 1.85 million barrels a day against June's 2.16 million, a 14% fall in the daily rate, with Tengiz down 18%, Kashagan 25% and Karachaganak 18%. That came from an industry source through Reuters. Freight and insurance are the other half of the same month.
Tengizchevroil's answer is a railway. It plans about 100,000 tonnes to Batumi during August, roughly 24,000 barrels a day, against a route that normally carries more than 80% of Kazakh oil exports.
The number still missing is the one the consortium publishes itself. July's loading total has not appeared, and the consortium has not spoken in its own name since 30 July.