One of Russia’s largest grain terminals damaged in Novorossiysk

The NZT grain terminal at Russia’s Novorossiysk port was damaged in a drone attack, Bloomberg reported, citing people familiar with the matter. According to the sources, the damage to the facility is not critical.

NZT is one of the three main grain terminals at Novorossiysk and is owned by Demetra, one of Russia’s major grain exporters. The terminal can handle up to 8.5 mln tons of cargo per year and has silo storage capacity of about 200 thsd tons.

In August, all three grain terminals at Novorossiysk temporarily halted operations following a drone attack. At least some operations were subsequently resumed. Bloomberg later reported that four grain vessels were damaged while attempting to load at the port.

The disruptions to port infrastructure come amid a sharp decline in Russian grain exports. According to Bloomberg, Russia’s grain shipments in August fell to their lowest level for the month in 16 years.

Disruptions to ports and shipping in the Black Sea region remain a source of uncertainty for the global grain market. Against this backdrop, Chicago wheat futures have risen by more than 16% since the escalation began in July.

Tags: grain terminal, Novorossiysk