Novorossiysk Takes Loan

摘要

The board of the Novorossiysk Commercial Sea Port (NCSP) has approved a deal to transfer 50% of its mazut - or heavy oil - terminal, now under construction, to Raif-feisen Bank as collateral for a $110 million line of credit. A source close to the deal told International Oil Daily that Raiffeisen Bank will actually get 100% of the new mazut terminal as collateral since another 50% of the outlet is to be put in pledge by international trader Gunvor, the largest offtaker of Russian crude. The terminal is owned jointly by Gunvor and Russian pipeline monopoly Transneft, with the latter holding a 50.1% stake in NCSP together with investment firm Summa Capital.