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ARA product stocks increase

Gepubliceerd Jacob on 8 december 2017 12:53:30

London, 7 December (Argus) — Oil product stocks held in independent storage within the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose by nearly 7pc in the past week because of substantial increases in fuel oil and naphtha inventories.

Fuel oil imports rose substantially during the past period, leading to a 23.5pc increase in independent inventories in the ARA region. The trade route to the Asia-Pacific region remains workable, but no tankers left Rotterdam in the past week. Some product was exported to west Africa for local bunkering market.

Supplies of Russian fuel oil have been increasing following the end of refinery maintenance works, which reduced output in the third quarter.

Diesel imports are also increasing with more product flowing from the Baltic region. Diesel exports from the Baltic port of Primorsk — which is the largest source of 10ppm diesel in the former Soviet Union — are scheduled at 1.26mn t (303,000 b/d) in December, marking a 37pc increase on the month.

But gasoil stocks in ARA declined slightly from a week earlier as inland demand for the product was firm, resulting in an increase in shipments along the Rhine.

Gasoline stocks fell slightly during the past week as a result of a decline in imports from the Baltic region and an increase in shipments of European gasoline to west Africa and Asia.

Spot tanker bookings to load west Africa-bound gasoline in the ARA region in the week to 6 December rose to 387,000t, up from 74,000t in the previous week. Similarly, bookings to load gasoline in the ARA region for the Mideast Gulf and Red Sea regions rose to 300,000t, up from 120,000t for loading during 23-29 November.

Exports to the US have been comparatively low. This dented demand for naphtha from gasoline blenders, which, in combination with high imports from Algeria, resulted in a 51pc increase in stocks from a week earlier.

Jet fuel stocks rose by 4pc week on week because of an increase in imports, with product arriving from Saudi Arabia. Jet fuel supplies in Europe are limited by continuing maintenance at Shell’s 420,000 b/d Pernis refinery in the Netherlands.

Argus reporter: Benoit Petre

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Mounting ARA gasoline stocks offset gasoil stockdraw

Gepubliceerd Jacob on 13 november 2017 14:34:24

London, 9 November (Argus) — Oil products stored independently in the Amsterdam-Rotterdam-Antwerp (ARA) region edged 0.7pc up to 5.31mn t today as a large gasoline stock build offset lower gasoil inventory, according to consultancy PJK.

Gasoline inventories climbed by 18.5pc in the week to 9 November on the back of higher net import volumes, with product coming from Finland, France, Germany, Spain, the UK and Russia. On the demand side, above average outflows to east of Suez outlets — namely Pakistan, Singapore and China — compensated for below-average export volumes to the US and west Africa. From a regional perspective, exports from the Baltic, the Mediterranean and northwest Europe exhibited a downward trend for every export market, according to fixture lists compiled by Argus. Provisional spot tanker bookings of European gasoline with transatlantic destinations fell by around 185,000t for 2-8 November loading dates, to 330,000t, compared with the previous week. A slowing of transatlantic-bound European gasoline bookings through October also helped to contribute to three consecutive weeks of large US gasoline stockdraws, according to latest EIA data. West Africa-bound bookings with 2-8 November loading dates fell by around 115,000t from the previous week to 310,000t. There was also a slowing in bookings with Mideast Gulf options, as shipments booked to load on 2-8 November almost halved from the previous week to around 220,000t, while bookings of gasoline and components with Asia-Pacific discharge options were largely steady at around 280,000t.

Gasoil stocks levels fell by 5.3pc week on week, reflecting a combination of substantial export volumes and improving barge demand from customers along the Rhine. Product was exported to the Mediterranean for orders, the UK and west Africa and came from Saudi Arabia. Growing heating demand in the hinterland supported outflows of heating oil. Loading restrictions of 50pc were still imposed this week on barges passing the bottleneck at Kaub, the gateway to southwestern Germany and Switzerland.

Fuel oil inventory grew by 4.2pc on the week as tankers, including long-range vessels, from Poland, Russia, the UK and the UAE offloaded their cargoes. A single small tanker with Mediterranean discharge options was the only ship to leave the ARA region this week, but a very large crude carrier (VLCC) and a Suezmax have been reported as currently loading.

Naphtha stocks fell by 5.5pc this week on the back of lower import volumes and substantial regional demand. Naphtha cargoes arrived from Portugal, Russia and Spain, but no product came from Algeria — a major supplier of naphtha to the ARA region. Buying interest from the blending pool was described as average by PJK and demand from petrochemicals end-users remained buoyant. Naphtha has been assessed at a $27/t premium to rival feedstock propane during 2-8 November, up from a $9/t premium a week earlier. But the higher yields of high-value co-products resulting from naphtha cracking are still large enough to more than offset such a naphtha-propane spread, enabling naphtha to remain the industry’s most competitive feedstock. The BW Raven — a MR size tanker chartered by BP to ship 37,000t of naphtha from the US Gulf coast — reached Dow’s Terneuzen terminal, a facility which is not covered by PJK’s data, on 3 November.

Jet fuel stocks held independently in the ARA region fell by 32,000t to 687,000t as no vessels carrying the product offloaded. There were also no jet fuel exports from the region. Jet fuel availability in northwest Europe is low, with prices supported from maintenance at the Pernis and Flushing refineries. Backwardation in jet fuel swaps and Ice gasoil futures has made storage unprofitable and boosted the purchase of barges to meet current demand. Barges are at a premium to cargoes in northwest Europe, which may prompt firms with regional storage to buy cargoes to split into barges. Low water levels in the Rhine continue to restrict barge loading capacity to take product inland from the ARA region.

Argus reporter: Benoit Petre

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Lower gasoil inventory offset ARA fuel oil stock build

Gepubliceerd Jacob on 24 augustus 2017 17:13:36

London, 24 August (Argus) —Oil products stored independently in the Amsterdam-Rotterdam-Antwerp (ARA) region edged 1.3pc up on the week to 5.53mn t today, as a drop in gasoil stock levels failed to fully offset a sharp increase in fuel oil inventory, according to consultancy PJK.

Fuel oil stocks increased by 27pc on the week, owing to a combination of substantial import volumes and limited outflows. Product came from Canada, France, Lithuania, Poland, Russia and the UK this week. Meanwhile, the sole outgoing tanker to load fuel oil in the ARA region this week was an Aframax heading to the Mediterranean for orders.

Gasoil inventory fell on the week as demand for diesel cargoes in northwest Europe remained steady amid a slowdown in arrivals from the US Gulf Coast. Shipments from the US helped lift inventory levels the previous week to almost 2.9mn t as cargoes arrived in northwest Europe, having departed at the start of August following the news of a fire at Shell’s Pernis refinery. But exporting diesel from the US Gulf coast has since become less attractive as freight rates rose. Gasoil was also supplied from Finland, Russia and the UK. Export volumes were steady on the week with cargoes being shipped to France and the Mediterranean. Meanwhile, barge demand from customers along the Rhine bounced back to its long-term average. Lower water levels capped cargo loads for barges sailing around or south of Frankfurt to two-thirds, compared with no loading restrictions the previous week.

Naphtha stock levels rose by 6.5pc on the week as strengthening local demand from the blending and cracking pools failed to fully absorb substantial import volumes. Product came from Algeria, Denmark, France, Portugal, Spain, Russia and the UK. At least one 37,000t naphtha cargo was also shipped to Brazil this week with the Spruce Express — a Medium Range (MR) tanker chartered by shipper Tricon — leaving Antwerp for Itaqui on 20 August.

Gasoline inventory dropped by 2.2pc in the week to 24 August against a backdrop of slowing flows from and to the ARA region. Gasoline cargoes came from Germany, Sweden and the UK and were exported to Brazil, Ecuador, Ghana, Guinea, Gibraltar for orders and the US. No cargoes were shipped to the Mideast Gulf this week, and west Africa- and US-bound volumes loading from terminals across the ARA region fell on the week. Export volumes to the US and west Africa from the Baltic, the Mediterranean and northwest Europe showed similar patterns, according to fixtures lists compiled by Argus. Spot tanker bookings of European gasoline with transatlantic discharge options loading 18-24 August fell to 481,000t, down from 585,000t the previous week. And the tally for Africa-bound tankers fell to 178,000t down from 296,000t booked to load in the previous week.

Jet stocks remained broadly unchanged on the week at 587,000t. No tankers loaded or offloaded jet in the ARA region this week.

Argus reporter: Benoit Petre

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Europe’s Independent Fuel Tanks Seen Near Full Amid Glut Signals

Gepubliceerd Jacob on 22 januari 2015 17:08:11

(Bloomberg) — Fuel-storage tanks operated by independent companies in northwest Europe’s oil-trading hub are near full, adding to signs of a surplus, according to a firm monitoring the inventories and the International Energy Agency.

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Oil glut spills into diesel, gasoline as storage demand swells

Gepubliceerd Jacob on 12 januari 2015 17:09:38

• ARA product stocks at three-and-a-half year highs • Oil product markets in contango across the board • Graphic of ARA product stocks: http://link.reuters.com/tys73w

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Oil glut spills into diesel, gasoline as storage demand swells

Gepubliceerd Jacob on 12 januari 2015 15:44:34

ARA product stocks at three-and-a-half year highs • Oil product markets in contango across the board • Graphic of ARA product stocks: http://link.reuters.com/tys73w

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Review week 15/03 Oil prices lost for a seventh straight week

Gepubliceerd Jacob on 12 januari 2015 13:28:08

Both crude – and product prices lost for a seventh straight week. The sharpest price declines were made early in the week and on Friday. Wednesday and Thursday oil markets were relatively stable. Gasoil prices shed around $45pmton on a weekly base while Brent crude lost around $6/bbl on a weekly base.

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Vrachttarieven voor Rijn zijn gedaald

Gepubliceerd Jacob on 8 januari 2015 16:12:48

De (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op 1e decade resp. 1e helft januari belading. Het overgrote deel van de marktdeelnemers kwam pas begin deze week terug van de vakantieperiode tussen Kerst en Nieuwjaar.

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Vrachttarieven voor Boven-Rijn zijn licht gestegen

Gepubliceerd Jacob on 9 december 2014 16:14:08

De vraag op de (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich vooruitlopend op de Kerstdagen en Oud en Nieuw inmiddels op het 2e decade december belading.

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Vraag voor middeldestillaten blijkt te zijn teruggelopen

Gepubliceerd Jacob on 18 november 2014 16:15:35

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich op 3e decade november belading. Vertragingen in beladingen, speciaal binnen de ARA range, zorgen nog steeds voor vertraging in de afwikkeling van lopende- en opvolgende transportzaken.

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