LONDON, Feb 18 (Reuters) – Gasoline stocks in Europe’s Amsterdam-Rotterdam-Antwerp (ARA) hub fell from an all-time high reached last week on increased export activity, Dutch consultancy PJK International said on Thursday.
But inventory levels slipped by only 5 percent to 1.26 million tonnes as a wide contango kept storing the motor fuel an attractive option for traders.
“We saw a lot of gasoline exports going to West Africa, Singapore, China, and the United States, so that’s part of the story, but there is still a large contango and the inventory is quite high,” PJK’s Patrick Kulsen said.
Traders have begun storing gasoline on tankers off European coasts as onshore tanks near maximum capacity.
Gasoil stocks eased as import volumes fell back but movement of product up the Rhine river remains slightly below average due to weak end-user demand, according to Kulsen.
Jet fuel inventories rose by around 7 percent as cargoes arrived from the Middle East and Asia.
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Estonia, Finland, Russia, United Kingdom||China, Latin America, Guinea for orders, Singapore, United States|
|Naphtha||France, Germany, United Kingdom,||None|
|Gasoil||India, Latvia, Poland, Russia, United States||France, United Kingdom|
|Fuel oil||France, Lithuania, Poland, Russia, United Kingdom, United States||One VLCC arrived Feb. 14 and left part cargo to Singapore on Feb. 18|
|Jetfuel||United Arab Emirates, South Korea||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.