LONDON, Jan 5 (Reuters) – Gasoil stocks in independently-held storage in the Amsterdam-Rotterdam-Antwerp hub rose by 4.6 percent in the week to Thursday, data from Dutch consultancy PJK International showed.
The rise was caused by higher diesel imports from the Baltics and lower water levels along the Rhine River which have limited barge loadings into inland markets to around 30 percent, PJK analyst Patrick Kulsen said.
Gasoline stocks also rose and weaker prompt prices compared to future prices, in what is known as contango, have led traders to store product in tanks.
“A big contango in the market is signalling the potential rise in stocks,” Kulsen said.
|Learn more on current and future market dynamics that impact the ARA tank storage sector in our revised ARA TT study.|
|Incoming cargoes||Outgoing cargoes|
|Gasoline||France, Russia, UK||Brazil, South America, USA|
|Naphtha||Portugal, Russia, UK||None|
|Gasoil||Baltics, Finland, Russia||UK|
|Fuel oil||France, Russia, Sweden||VLCCs departed Jan. 3 and Jan. 5 to Singapore|
PJK International is also consulted for (medium and long term) supply and demand forecasting, tradeflow forecasting, oil tanker vessel tracking and its view on price trends on NWE oil markets. Read more on PJK Consultancy Services.
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.