ARA gasoil stocks hit all-time high

LONDON, Sept 3 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub rose to an all-time high in the week to Thursday at 3.5 million tonnes, according to data from Dutch oil consultants PJK International.

The gasoil contango, when front month prices trade below futures, has widened to around $5 a tonne in recent weeks, encouraging storage.
Total oil product stocks also reached a new all-time high.

Continuing low water levels along the Rhine and Danube rivers means barges are operating at around only 45 percent capacity.

Water levels are expected to decrease further in the next few days and no precipitation is expected in the Rhine region in the next fortnight, brokerage Riverlake Barging said.

Gasoline and naphtha stockpiles remained steady while fuel oil stocks rose.

Read more on the economics, drivers and market trends of the ARA tank storage market in our Knowledge center.

Weekly ARA stocks (in ‘000 tonnes)

 

03/09/2015 27/08/2015 04/09/2014
Gasoline 1,008 1,001 713
Naphtha 330 332 181
Gasoil 3,526 3,281 2,781
Fuel oil 1,157 998 781
Jet fuel 720 761 368

 

Incoming cargoes Outgoing cargoes
Gasoline Norway, Sweden, UK Mexico, Togo, US
Naphtha France, Russia None
Gasoil India, UK, US None
Fuel oil Estonia, France, Russia, UK Two VLCC’s are estimated to depart for Singapore on 5-6 Sept.
Jet fuel UAE None

 

*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.