ARA naphtha stocks rise 44 percent in week

LONDON, Feb 4 (Reuters) – Naphtha stocks in Europe’s Amsterdam-Rotterdam-Antwerp (ARA) hub jumped by 44 percent this week while other inventory levels were little changed, data from Dutch consultants PJK International showed on Thursday.

Naphtha stocks rose to more than 200,000 tonnes, their highest since October, due to lower blending demand into gasoline and because the “arbitrage out of ARA is not workable at the moment,” PJK’s Patrick Kulsen said.

Gasoline inventories fell slightly, despite a continued contango in the market which encourages storage, as exports increased to China and West Africa, Kulsen said.

Gasoil stocks were steady as inland demand was below average for this time of year. There are “high inland stocks, mild weather, and little to no end-user demand, especially for heating oil,” Kulsen said.

Fuel oil stocks fell slightly as two VLCC’s arrived in the region to move product to Singapore, but Russian import volumes continue to make their way into ARA.

Incoming cargoes Outgoing cargoes
Gasoline Canada, Finland, France, Portugal, Russia, Spain, Sweden Brazil, China, Ghana, Togo, West Africa for orders
Naphtha Germany, Russia, UK None
Gasoil Estonia, Russia, U.S. Finland
Fuel oil France, Poland, Russia, UK  Two VLCCs arrived on Feb. 2: one tanker will depart on Feb 4. and the other on Feb. 5, both part cargoes to Singapore
Jetfuel United Arab Emirates None


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.

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