Gasoline stocks little changed in ARA hub

LONDON, June 13 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub were little changed on the week, data from Dutch oil analyst Pieter Kulsen showed on Thursday, as high water levels hampered shipping in the region, limiting trade.

Gasoline stocks edged higher to 748,000 tonnes, Kulsen’s data showed, rising by a marginal 1,000 tonnes over the week.

The shipping disruption along the Rhine affected mainly the gasoline and gasoil barge markets, Kulsen said. Traffic along the river returned to normal by Monday, but some delays to deliveries were still being seen this week.
“The closure of the Rhine, specially the mid and upper Rhine, resulted in delays. Importers and wholesalers were unable to make any business because of the high waters,” Kulsen said.

In contrast, naphtha stocks rebounded to 131,000 tonnes over the week, rising by just over 27 percent.
Gasoline cargoes arrived from Britain, Estonia, Latvia, Poland and Sweden as well as from within the ARA hub. Cargoes headed to Denmark, France, Italy, Mexico, Nigeria and West Africa for orders.

No cargoes were shipped to the United States for a third straight week, highlighting the weakness of the arbitrage as U.S. stocks remain near record highs. One naphtha cargo arrived from Russia, none headed out.

13/06/13 06/06/13 14/06/12
GASOLINE 748 747 695
NAPHTHA 131 103 152
GAS OIL 2,094 2,254 2,273
FUEL OIL 703 634
JET FUEL 411 401

All figures in thousands of tonnes

Gasoil stocks were drawn down over the week, despite the limitations on shipping, as traders reported that a large refinery in the region had encountered trouble producing certain distillates products. Strong demand in the Mediterranean further supported demand.
Stocks fell by just more than 7 percent to 2.094 million tonnes, Kulsen’s data showed.

Tankers entered the hub from Latvia and Russia and headed to Algeria, France, the Mediterranean for orders and Togo.
Fuel oil stocks rose 11 percent to 703,000 tonnes. Cargoes arrived from Brazil, Britain, France, Poland and Russia and departed for the Mediterranean for orders.

Jet fuel stocks edged up by close to 2.5 percent to 411,000 tonnes, while fuel oil stocks rose just under 11 percent to 703,000 tonnes over the week.
One jet fuel cargo arrived from the Mediterranean.

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