“Along the Rhine, demand is still slack because of the absence of a cold winter,” Kulsen said, whilst a backwardation meant that importers and wholesalers in Germany, Switzerland and France were reluctant to replenish inventories.
Gasoline stocks also climbed on the week, reaching 1.046 million tonnes, the highest level since May 2013, the data showed. Regional gasoline demand tends to drop in the winter months and Kulsen said activity was largely confined to cargoes with barge trade limited.
Naphtha, fuel oil and jet fuel stocks all fell.
Kulsen said demand from petrochemical plants accounted for the small drop in naphtha inventories, though there was also demand from the gasoline sector, which uses naphtha as a blending component.
(Figures in thousands of tonnes)
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Denmark, Germany, France, Poland, Britain||Latvia, Britain, Mexico, West Africa, for orders|
|GAS OIL||Germany Bremen area, Norway, Russia, Latvia||France|
|FUEL OIL||Brazil, France, Poland, Russia, Spain, Lithuania||One cargo loading and expected to sail for Singapore on Feb. 8
|JET FUEL||India||France, Britain|
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.