LONDON, Feb 19 (Reuters) – Gasoil stocks held in independent storage at Europe’s Antwerp-Rotterdam-Amsterdam hub rose to a new record high of 3.15 million tonnes in the week to Thursday, data from Dutch-based PJK International showed.
The fifth consecutive week of gains in gasoil stocks is due to strong imports from the Baltic Sea, PJK analyst Patrick Kulsen said.
This is the highest level since records started in 2003, according to Reuters data.
“We can see builds in multiple terminals,” he said.
Demand along the Rhine river has been weaker because stocks are sufficient, he said.
Low water levels have also meant barges can load at around 60 percent of capacity.
Gasoline stocks were little changed at 820,000 tonnes, according to the data.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Estonia, France, Germany, Latvia, Russia, Sweden, UK||East of Suez, WAF, USA|
|Naphtha||Angola, France, Portugal, Russia, Spain, UK||None|
|Gasoil||Estonia, India, Norway, Russia||USAC|
|Fuel oil||France, Poland, Russia, UK||2 VLCCs part cargo ETAFeb. 19 destination Singapore|
|Jet fuel||India, Qatar, South Korea||None|
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