LONDON, Jan 14 (Reuters) – Gasoline stocks in the Amsterdam-Rotterdam-Antwerp (ARA) storage hub rose by 13 percent on the week as contango led sellers to hold onto their cargoes, according to Dutch consultancy PJK International.
Naphtha stocks also rose by 26,000 tonnes as the slower gasoline exports impinged on the amount of naphtha cargoes that are exported as blendstock fo high quality gasoline.
“We have a contango on light ends,” PJK’s Patrick Kulsen said. “We also see product coming from Germany to ARA.”
However, with demand in export markets such as West Africa and the United States Kulsen said gasoline stocks could decline next week if that buying interest maintains.
Gasoil stocks, which have been persistently high in recent months due to strong imports, high refinery runs across Europe and relatively warm winter weather, fell this week.
“There is some demand in the hinterland due to cold weather,” Kulsen said, adding that better conditions on the Rhine river, a key passageway into Germany and Switzerland, had also helped keep cargoes leaving ARA.
|Incoming cargoes||Outgoing cargoes|
|Gasoline||France, Sweden, Russia, UK||Brazil, China, West Africa|
|Naphtha||Germany, Norway, Russia||None|
|Gasoil||India, Latvia, Norway, UK, US||None|
|Fuel oil||Estonia, Russia, France, UK||One VLCC part cargo departing for Singapore Jan. 15, second VLCC with a part cargo for Singapore arriving Jan. 17|
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.
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