LONDON, Oct 8 (Reuters) – ARA gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp hub rose 5 percent in the week to Thursday to a new record high, data from Dutch consultancy PJK International showed.
Severe barge traffic disruptions along the Rhine river due to low water levels over the last month have led to a build up in gasoil inventories at the hub.
“There are still very low water levels for an exceptionally long period of time,” PJK’s Patrick Kulsen said.
Barges have been loading at half of their capacity due to the low water levels.
“Freight rates high are and barge capacity is short. There is product going up the Rhine but it is taking much longer.
ARA gasoline stocks declined as overseas demand rose in recent weeks due to refinery maintenance in the Middle East and Asia.
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Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Baltics, France, Russia, UK||Algeria, USA|
|Naphtha||France, Germany, Russia||None|
|Gasoil||Nigeria, Russia, Saudi Arabia, UK, USA||None|
|Fuel oil||Estonia, France, Lithuania, Poland, Russia, UK||VLCC, 8 Oct expected departure to Singapore|
|Jet fuel||South Korea, Kuwait||None|
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