Port of Ashkelon reopens, product loadings subdued

Market: Oil products
21/11/23

Israel's Ashkelon port has reopened, according to Mediterranean market sources, although oil product loadings at the terminal have been slower to recover than at the port of Haifa as the Israel-Gaza conflict draws on.

Two cargoes carrying 6,300t of acetone and phenol left Ashkelon on 2 November, according to Vortexa tracking data, the first shipments out of the port after it closed in early October.

Clean oil product loadings have been limited to a single 9,000t low sulphur fuel oil cargo, which loaded on 19 November, according to Vortexa data.

But at the port of Haifa, Israeli diesel and gasoil exports rebounded to 70,000t during 1-20 November, up from a total of 5,400t in October.

Of these volumes, the Slovenian port of Koper was scheduled to receive 33,700t of gasoil on 22 November, followed by 30,000t of ultra-low sulphur diesel (ULSD) a couple of days later.

Cyprus' port of Akrotiri is due to receive 6,200t of gasoil on 23 November.

Ashkelon was Israel's primary crude import terminal during January-September this year, and it resumed crude imports this month, taking a Suezmax with around 760,000 bl of Okoro blend on 10 November, and is due to receive 205,000 bl of Rabi Light on 23 November, according to Vortexa.

But crude arrivals at Ashkelon averaged just 32,000 b/d in 1-20 November, down from 58,000 b/d last month, according to Vortexa. Israel's Red Sea port of Eilat appears to still be functioning as an alternative crude import node after receiving crude loadings last month for the first time since May 2020. Eilat has received 24,000 b/d so far in November, compared with 33,000 b/d in October when the conflict began.

By George Maher-Bonnett and Benedict George

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