LONDON, March 17 (Reuters) – Total product inventories held in the Amsterdam-Rotterdam-Antwerp (ARA) hub reached an all-time high of just over 7 million tonnes in the past week, Dutch consultancy PJK International said on Thursday.
The increase was led mostly by gasoline, where stocks grew by more than 9 percent to 1.3 million tonnes, but remained below the all time-high reached in the week to Feb. 11.
Traders have been storing gasoline to take advantage of a contango in the market, PJK’s Patrick Kulsen said.
Traders have also been building summer grade gasoline stocks ahead of a switch from winter grade in the coming weeks.
Gasoil stocks were 2.4 percent higher because of low inland demand and high imports from Russia and the United States, Kulsen said.
Naphtha was the only product to see a stock draw in the past week, dropping by about one fifth on growing demand for gasoline blending, according to Kulsen.
Naphtha is an ideal blending component for low-octane gasoline that is usually exported to West Africa, where demand for the motor fuel from ARA has been increasing in recent weeks.
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.
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Estonia, Finland, France, Spain, Sweden, United Kingdom||China, Mexico, Singapore, Togo, United States|
|Naphtha||France, Portugal, Russia||None|
|Gasoil||Canada, Russia, Venezuela, United States||UK|
|Fuel oil||Finland, France, Lithuania, Poland, Russia||One VLCC is expected to leave for Singapore with part cargo on March 21. Another is due to arrive on March 28 ahead of a planned voyage to Singapore|
|Jetfuel||United Arab Emirates, Saudi Arabia||None|
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.