Delays at Venezuela's main crude port trigger vessels backlog

jueves 24 de marzo de 2016 16:21 GYT

By Marianna Parraga and Alexandra Ulmer

HOUSTON/CARACAS, March 24 (Reuters) - Serious delays to load and unload vessels at Venezuela's main crude port started to create a backlog of tankers last week that is now extending to the island of Curacao, according to traders, a union representative and Thomson Reuters data.

Some 70 tankers were anchored around state-run PDVSA's ports in Venezuela and the Caribbean, most of them waiting to load oil for exports and also to discharge imported crude and products, according to Thomson Reuters vessel tracking data.

The ensuing backlog is similar to a situation late last year, when PDVSA failed to comply with prepayment contracts agreed with its main oil suppliers.

But the accumulation of vessels is not related to payment issues this time and it has formed faster, the data say, jeopardizing crude exports of the OPEC-member country.

A union leader and a legislator blamed technical problems with the Jose port's loading arms that are causing incremental delays for filling and discharging cargoes.

PDVSA did not answer a request for comment. Venezuela exports 1.8 million barrels per day (bpd) of crude with the United States and China as main destinations.

As of March 23, 36 Venezuelan crude cargoes, including Orinoco belt's diluted oil and blends loaded at Jose, had arrived to the United States, showing a slight decline versus typical exports volumes, according to Thomson Reuters Trade Flows data.

But traders and union sources said the situation could worsen if out of service equipment is not repaired soon.   Continuación...