13-03-14: ARA gasoline stocks rise to 6yr high

ONDON, March 13 (Reuters) – Gasoline stocks independently held at the Amsterdam-Rotterdam-Antwerp (ARA) hub rose to their highest level in almost six years on Thursday, according to the latest data from Dutch oil consultant Pieter Kulsen.

Stocks were up 11.2 percent to 1.1 million tonnes week-on-week, boosted by gasoline imports arriving at the ARA hub in the expectation of a strong pick up in demand from the United States. “More cargoes are expected to sail,” said Kulsen.

U.S. gasoline inventories have been falling due to refinery maintenance EIA/S, opening the door for European gasoline. Traders also believe this summer’s driving season will be an improvement on last year’s.

Naphtha inventories rose 15 percent to 108,000 tonnes, which Kulsen attributed to refiners and traders anticipating a rise in demand for naphtha for gasoline blending.
Gasoil stocks slipped to 1.859 million tonnes from 1.901 million tonnes, as importers and wholesalers cleared out their winter quality diesel ahead of the switch to intermediate and summer quality.

“Demand is also picking up along the Rhine, although water levels have been falling so you need more barges to transport the same quantity,” said Kulsen.
Fuel oil stocks slipped 97,000 tonnes to 575,000 tonnes as a very large crude carrier filled up with a cargo for Singapore. Jet fuel inventories fell 15 percent week-on-week to 377,000 tonnes.

13/03/14 06/03/14 14/03/13
GASOLINE 1,100 989 981
NAPHTHA 108 94 85
GAS OIL 1,859 1,901 2,434
FUEL OIL 575 672
JET FUEL 377 443 374
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Britain, Cuba, Estonia, France, Latvia, Spain, Sweden Mexico, Norway, USA, WAF for orders
NAPHTHA Russia, Britain CIF NWE for orders
GAS OIL Latvia, Russia, USA Britain, France, Senegal, Italy
FUEL OIL Brazil, Finland, France, Lithuania, Poland, Russia, USA One VLCC expected to depart for Singapore on March 13
JET FUEL Kuwait Britain, France

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