Oilmarket Blog

ARA independent product stocks rise

Gepubliceerd Jacob on 8 februari 2019 14:09:22

Oil product stocks held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose marginally during the past week, prompted by gains in gasoil and fuel oil inventories.

Fuel oil stocks climbed this week on week because of higher imports. The ARA region received fuel oil from Finland, France, Latvia, Poland, Russia, the US and the UK. One tanker left Rotterdam for west Africa with a fuel oil cargo to supply the local bunkering market. Falling freight rates on the Europe to Singapore route boosted demand for very large crude carrier (VLCC) cargoes.

Diesel stocks also rose during the past week. The economics for importing diesel form the Middle East to Europe firmed last week, stimulating flows from the east. Meanwhile, cold weather in the US bolstered demand for diesel, making less material available to be shipped to Europe. It also pushed prices higher, denting the economics for exporting the product.

Gasoline stocks fell during the past week. The northwest European and Mediterranean markets remain well-supplied with gasoline. US gasoline stocks have been rising, dampening demand for European products. The latest report from the EIA showed that stocks on the Atlantic coast — crucial for arbitrage economics between the US and Europe — hit the highest level since February 2017 during the week to 1 February. Likewise, the outlook for exports to the Middle East is bleak, owing to the restart of the 127,000 b/d residual fluid catalytic cracker at the UAE’s Ruwais-2 refinery following a two-year shutdown.

The European naphtha market has also been oversupplied as demand for the product from gasoline blenders has been at a low level because of weak margins. Demand for naphtha from the petrochemicals sector has also been soft as rival feedstock propane has been more competitive. But stocks fell marginally as some product was exported to South Korea.

And jet fuel stocks fell slightly from the prior week as the ARA region exported product to the UK and Ireland, while some jet fuel was imported from India. The tanker N Mars arrived into Rotterdam on 1 February with 60,000t of jet fuel from India.

Reporter: Sergei Balashov

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ARA independent product stocks down on fuel oil draw

Gepubliceerd Jacob on 1 februari 2019 18:14:40

London, 31 January (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell on the week, with a sharp fall in fuel oil inventories outweighing stock rises in every other recorded product.

Fuel oil inventories fell by 27pc week on week to their lowest level since 29 November 2018. Falling stocks levels in Asia-Pacific and lower freight rates in January helped open arbitrage routes and stimulated bookings of several very large crude carriers (VLCCs). No VLCCs were recorded leaving the ARA area during the week to today but at least three Suezmax and one Aframax tanker departed the area for the Mediterranean and west Africa. Incoming tankers arrived from Poland, Russia and the UK.

Naphtha inventories increased, rising from a low base after reaching their lowest level since November 2017 a week earlier. Tankers arrived from Algeria, Russia, Spain and the UK and none were recorded leaving. Vitol booked the Star Energy to carry a 120,000t cargo from the ARA area to Asia-Pacific with loading set for 31 January.

Gasoil inventories rose, increasing for the fourth consecutive week to reach the highest level since the week to 8 November 2018. Firm demand for heating fuels bolstered demand from end-users in the northwest European hinterland, supporting Rhine barge flows. Tankers arrived from Lithuania, Poland, Russia, Saudi Arabia and the US. Tankers departed for Denmark, France and the UK.

Gasoline stocks rose, remaining around the nine-month high recorded in recent weeks. Ample supply in north America continues to exert downward pressure on demand for northwest European volumes, but outflows remained healthy with tankers departing for the Mideast Gulf, Brazil, the US, west Africa and to Suez for orders. Tankers arrived from France, Italy, Spain and the UK carrying a variety of different grades of gasoline.

Jet fuel stocks rose by 5pc to reach a 16-week high amid firm demand relative to other regions. Ample supply in the Mediterranean and US Atlantic and Gulf coasts, coupled with an influx of cargoes arriving from east of Suez will continue to jet fuel flows into northwest Europe. Tankers arrived from the Mideast Gulf and South Korea, and departed for the UK.

 

Reporter: Tom Warner

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Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub were steady on the week.

Gepubliceerd Jacob on 28 januari 2019 16:26:57

London, 28 January (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub were steady on the week.

Gasoil inventories rose, increasing for the third consecutive week to reach the highest level since the week to 8 November 2018. Firm heating oil demand from end-users in the northwest European hinterland supported Rhine barge flows.

Fuel oil inventories fell by 8.8pc week on week. The very large crude carrier (VLCC) As Suwayq departed Rotterdam for Singapore carrying a 270,000t cargo.

Gasoline stocks fell, but remained around the nine-month high recorded in recent weeks. The four-week rolling average of gasoline inventories hit its highest level since Argus began recording PJK’s ARA stocks data in 2011, at 1.37mn t. Ample and rising supply in north America has significantly reduced demand from the US Atlantic and Gulf coasts, limiting outflow opportunities for northwest European volumes. Tankers arrived from Finland, Spain, Russia, Sweden and the UK. Tankers left the area for Canada, the Mediterranean, the US and to Suez for orders.

Naphtha inventories fell to reach their lowest since November 2017, as northwest European end-users continued to move volumes inland ahead of anticipated falls in Rhine water levels. Demand from gasoline blenders remained subdued.

Jet fuel stocks rose to reach a seven-week high amid seasonally low demand. A single tanker arrived in the region from the UAE and none departed. Ample supply in the Mediterranean and US east coast regions is likely to make northwest Europe a more attractive destination for cargoes arriving from the east of Suez in the coming weeks.

 

Reporter: Tom Warner

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ARA independent product stocks remain stable

Gepubliceerd Jacob on 21 januari 2019 11:12:50

London – Oil product volumes held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub were broadly unchanged on the week today.

Gasoil inventories rose this week. Demand from the European hinterland rose week on week to reach its highest level since May 2018, with falling temperatures continuing to bolster demand for heating oil. But the increase in barge flows was more than offset by an rise in seaborne volumes from from Latvia, Russia and the US, for the second consecutive week.

Fuel oil inventories fell week on week. The very large crude carrier (VLCC) As Suwayq remained in Rotterdam loading a 270,000t for Singapore delivery. Three eastbound VLCC bookings have emerged so far during January, compared with none in December. This is mostly a result of falling freight rates, and high inventories in Europe compared with the Asia-Pacific region. A single Suezmax departed for Singapore during the week to today.

Gasoline stocks remained around the nine-month high recorded in recent weeks. Ample supply in north America weighed on demand from the US Atlantic coast and the US Gulf, weighing on northwest European prices and stimulating an increase in tanker bookings for destinations east of Suez.

Naphtha inventories fell as a result of firm demand from inland petrochemical end-users. An anticipated fall in Rhine water levels helped add urgency to naphtha buying from the petrochemical sector this week, but demand from gasoline blenders remained low on ample supply in key markets.

Jet fuel stocks rose amid lower demand week on week. No jet barges were recorded leaving ARA for discharge along the Rhine, and the Long Range 2 (LR2) tanker SFL Trinity arrived in Rotterdam carrying a 90,000t cargo from Ruwais on 15 January. It was not clear whether the entire cargo was offloaded.

Reporter: Tom Warner

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ARA independent product stocks rise

Gepubliceerd Jacob on 11 januari 2019 9:25:29

London: Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose on the week today, prompted by a rise in fuel oil stocks.

Gasoil inventories were broadly stable. Demand from the European hinterland rose week on week, with falling temperatures bolstering demand for heating fuels. But the increase in barge flows to inland destinations was more than offset by an increase in seaborne volumes. Tankers arrived from the Baltic, Russia, the US and west Africa and departed for France.

Fuel oil inventories recorded by far the largest increase of the products surveyed, rising by 23.7pc week on week. The very large crude carrier (VLCC) As Suwayq is currently loading a 270,000t cargo in Rotterdam for Singapore delivery. ARA fuel oil inventories typically rise until eastbound outflows become viable. Arbitrage economics to Singapore remain workable with three more VLCC cargoes booked to load between today and 5 February. Fuel oil tankers arrived from France, Poland, Russia and the UK.

Gasoline stocks slightly fell, remaining around the nine-month high recorded a week earlier. Demand for finished grade gasoline from inland consumers rose from a low base, and outflows to the US were also higher. But ample supply in key export markets will continue to exert long-term downward pressure on demand for northwest European gasoline. Tankers left the area for the US, west Africa and Latin America and arrived from France, Italy, Sweden and the UK.

Naphtha inventories fell by 9.4pc following the departure of the Long Range 2 (LR2) tanker Aldana to Asia-pacific with an 80,000t naphtha cargo. Weaker European demand pushed the northwest European naphtha market into contango on 7 January, which is likely to support storage economics as well as additional eastbound flows. Tankers arrived from France, Norway, Portugal, Spain and the UK.

Jet fuel stocks slumped to their lowest since 10 August 2017, falling on the week. Demand from other regions has diverted cargoes away from the ARA area since the start of the year, and tankers have mostly arrived into the UK and France. Storage economics have been impacted by the jet market’s moving into backwardation on 4 January. A single 30,000t cargo arrived in the ARA area from the UK during the reporting period, but had not unloaded at the time of writing. A single tanker departed for the UK this week.

Reporter: Thomas Warner

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ARA independent product stocks rise

Gepubliceerd Jacob on 4 januari 2019 10:38:37

London, 3 January (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub today are 5pc up on the week, at 5.47mn t.

Gasoil inventories are broadly stable, falling by 0.7pc to 2.04mn t. Demand from the European hinterland was marginally lower week on week, but seaborne outflows rose and tankers departed for Argentina, the Mediterranean and the UK in the week. Tankers arrived in the ARA from the Baltic region, Canada, Russia and the US.

High volumes of incoming and outgoing fuel oil cargoes ultimately resulted in a 12pc week-on-week rise in inventories to 1.2mn t, with tankers arriving from Canada, Latvia, Poland, Russia and the UK. Tankers departed for the Mideast Gulf, the US, and west Africa, and the Suezmax Stena Superior departed for Singapore on 28 December.

Gasoline stocks have increased by 7.7pc, to 1.37mn t, the highest level recorded since 29 March 2018, amid persistent slow demand from key export markets. Tankers left the area for Latin America and west Africa. Tankers arrived in the ARA area from France, Italy, Norway, Spain and the UK.

Naphtha inventories rose by 23.3pc to 265,000t, supported by the arrival of an LR2 tanker from Algeria and smaller tankers from Denmark, France and the UK. A single tanker departed the region during the reporting period, with Equinor sending a 90,000t cargo to Asia-Pacific likely laden with naphtha from Mongstad and with volumes stored in the ARA area.

Jet fuel stocks slumped to fresh seven month lows, down by 0.5pc on the week. A single tanker departed for the UK.

Rhine barge loadings remained unrestricted, but water levels at Kaub fell by 209cm over the course of the week to reach 181cm today.

 

Reporter: Tom Warner

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Hobbit’s Vessel Clearance Guide software to be integrated into TankTerminals.com

Gepubliceerd Jacob on 27 december 2018 12:15:40

Breda, The Netherlands – Hobbit Imaging Solutions and TankTerminals.com have signed an agreement to integrate Hobbit’s Vessel Clearance Guide software into TankTerminals.com’s database platform.

 

With the partnership of www.tankterminals.com and www.vesselclearance.com a combined platform is realized where customers can find all relevant information on tank terminals information, storage availability and automatically complete a vessel clearance request. This partnership will help TankTerminals.com to become the number one platform for terminal information and help terminals and its customers to work more efficiently.

 

A customer’s decision to discharge a vessel at a Terminal, depends on whether the vessel is able to perform the requested manipulation (i.e. load/discharge) at a terminal. Therefore vessels go through a vetting process each time they could be nominated, this is called a “Vessel Clearance Request”. For traders, the swiftness in receiving vetting feedback impacts the decision to make or leave a deal. By automating the vessel clearance process the clearance results are direct available, efficiency is increased, and mistakes are excluded.

 

HOBBIT IMAGING SOLUTIONS is a software company with over 20 years of experience in the field of software development and maintenance. HOBBIT has amongst others developed sophisticated Forensic software for the Dutch Police. We are specialized in designing and making intuitive and user-friendly software for complex problems and business processes. For more information please visit www.hobbit-is.nl/

 

TankTerminals.com is the world’s leading online platform & database for the tank storage industry. With more than 4,800 tank terminal facilities in 160+ countries, our customers can access with a few clicks more than 90 data labels per each terminal, such as technical parameters, historical development and managerial contact details, all in one place. For more information please visit www.tankterminals.com .

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Fuel oil build bolsters ARA independent product stocks

Gepubliceerd Jacob on 14 december 2018 14:42:39

London — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub increased by 2.4pc on the week today to 5.03mn t.

Fuel oil inventories increased by 22pc on the week to reach an eight week high (see table). The very large crude carrier (VLCC) Neptun is currently awaiting loading in Rotterdam for east of Suez discharge. Tankers arrived from France, Italy, Russia and the UK. Fuel oil stocks can be subject to greater changes as a result of the use of larger tankers to carry cargoes eastward.

Gasoil stocks declined by 5.1pc to their lowest level since 21 June. Inland buyers took advantage of a recovery in Rhine water levels to replenish stocks of diesel and heating oil. Liquidity in the German 10ppm diesel fob ARA barge market has doubled in the last two weeks. German diesel barges also moved to a premium to their Hamburg-delivered cargo counterparts, likely encouraging the sale of smaller parcels for shipment up the Rhine. Tankers arrived in the ARA area from the Baltic and Mediterranean regions, and departed for the UK and west Africa.

Gasoline stocks fell by 1.8pc to a six week low. Cargoes departed for the Mideast Gulf, Canada, the US and west Africa. Transatlantic and west African demand rose on the week, drawing more gasoline out of the area, and flows of gasoline blending components from inland destinations rose to support ARA inventories. Gasoline cargoes arrived from Denmark, Finland, France, the Mediterranean and the UK.

Naphtha inventories rose by 6.3pc as a result of a steady flow of incoming cargoes. Tankers arrived from Algeria, the UK and the US while none departed. Demand from inland petrochemical end-users rose, again supported by the rise in Rhine water levels.

Jet fuel stocks fell by 1.7pc to reach their lowest level since 11 May. A tanker arrived from Finland, likely for use in gasoil blending. A single tanker was recorded leaving for the UK.

Reporter: Thomas Warner

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What technology area do you expect to be a game-changer?

Gepubliceerd Jacob on 13 december 2018 10:08:35

 

Welcome to “GRIPPING THOUGHTS”, the space created by PJK International where Clients, Partners and Friends are invited to share ideas and insights that help shedding light on the challenges that the Oil & Gas industry faces, in the near and long future.

 

So join us and get inspired by IVAR BERNTZ, Research Analyst in the Cross-Industry and Advanced Manufacturing Group at GARTNER :

 

“Gartner recently released the results of their 2019 CIO Survey Oil and Gast Industry insights , based on 84 responses out of the 3,102 overall respondents from 89 countries. Let us discuss two of the questions posed, namely: 1) What is your organization’s top priority for 2018/2019? and 2) What technology area do you expect to be a game-changer for your organization?

 

Through 2018 oil and gas firms have made continued significant progress improving efficiency. With improving balance sheets and leaner operations, it is unsurprising that oil and gas executives are strongly focused on revenue and business growth as their top priority, as stated by 28% of the respondents. Caution, however, is still in evidence since the recovery is recent and market conditions remain volatile. Operational excellence  provides a relatively low-risk route to growth and profitability and is the priority for 26% of respondents.

 

Oil and gas company executives, senior leaders and functional managers are embracing digital. This year 22% of survey respondents rated it as top priority, compared with only 8% last year. Recognition of the capacity of digital innovation to both optimize and transform business models has crossed a tipping point in the industry, significantly elevating digital as a priority. Nevertheless, companies in most other industries are more likely to prioritize digital, a sign that traditional oil and gas industry inertia has not disappeared. Progress may be rapid by oil and gas standards but is only just keeping pace with trends outside the industry.

 

The oil and gas industry’s striking enthusiasm for analytics continues unabated, with 44% of oil and gas CIOs expecting data analytics to be the top game-changing technology  for the industry this year — double the percentage across  industries. Despite occasional mixed results and scepticism of vendor promises, analytics has gained widespread acceptance based on multiplying use cases and demonstrated value. As digital ambitions intensify, analytics is consistently prioritized by oil and gas leadership seeking proven ways to derive business value from digital technologies.

 

The greatly elevated priority of the IoT is new, with 24% of respondents now identifying it as a game-changing technology compared to 8% last year. As companies deal with existing inefficiencies, continued pursuit of operational excellence demands new strategies to improve asset performance, driving greater use of analytics for simulation and prediction of future behaviour. Analytics’ focus also shifts from reactive modelling offline to nearer real time. IoT offers advantages in data collection and system responsiveness over legacy systems to support this. However, cost-benefit considerations have so far acted as a brake on adoption, especially on mature assets. With renewed business growth the comparative advantages (and increasing cost-effectiveness) of IoT promise performance differentiation that will accelerate take-up.

 

A stark difference between oil and gas and all industries is apparent in artificial intelligence/machine learning. Across all industries, artificial intelligence/machine learning is ranked as the No. 1 game-changing technology across all three categories of performers, with 40% of top performers placing it at the top. While it is the third-most-cited, game-changing technology in oil and gas, only 21% of industry CIOs rate it as the top technology.

 

In part, this reflects the natural mistrust of the industry to hyped technology. Many oil and gas operators are still exploring ML and AI use cases and have yet to operationalize it. Understanding is more concrete for other technologies today, which — given the asset-centric nature of the business — are also expected to deliver significant value leading to a more even spread of expectation. Nevertheless, the growth of AI and ML, along with the elevation of IoT, indicates a shift in focus in the industry toward greater real-time connectivity and prediction for asset optimization.

 

Given this background, what do you believe will be your organization’s top priority for 2019 and what technology will be a game changer to accomplish it?”

 

PS: if you want to contribute to “Gripping Thoughts” please send an email to aldo.cavalcanti@pjk-international.com

 

Find here other “Gripping Thoughts” articles:
  •  Read now: interview with Bertrand Chupin, VP of the Loading Systems business unit of TechnipFMC, a global leader in subsea, onshore/offshore and surface projects, with about 37,000 employees.

 

 

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ARA independent product stocks rise on fuel oil build

Gepubliceerd Jacob on 7 december 2018 15:11:24

London, (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub increased by 1.7pc on the week today to 4.9mn t. A sharp rise in fuel oil stocks outweighed declines in every other product.

Fuel oil inventories increased by 18.5pc on the week hitting a three week high. Cargoes arrived from France, Poland, Russia and the UK. A Suezmax and Aframax departed for Singapore. Stocks increased ahead of the loading of a very large crude carrier (VLCC) — the Neptun — due to arrive next week.

Gasoil stocks declined by 1.4pc to a six month low. A rise in Rhine water levels allowed exports from ARA to reach the German inland market, which weighed on stock levels. Cargoes also left for the US and west Africa. Tankers from the Baltic and Russia.

Gasoline stocks fell by 1.3pc to a three week low, as cargoes departed for west Africa and product loadings along the Rhine increased. Products arrived from France, Germany, Sweden and the UK.

Naphtha inventories declined by 7pc. Cargoes arrived from Algeria, France, Spain and the UK. As with gasoil and gasoline, naphtha demand from inland Europe is likely to have increased as a result of higher Rhine water levels.

Jet fuel stocks fell by 3.7pc, also a three week low. Exports to the UK outweighed imports from the Mideast Gulf, which totalled just one cargo.

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