Oilmarket Blog

BLOG THEMA'S : Jet kerosine

ARA independent product stocks rise

Gepubliceerd Jacob on 9 november 2018 12:36:10

(Argus) — Oil product stocks held in independent storage within the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose by 3.3pc from a week earlier to 5.48mn t, prompted largely by a sharp rise in fuel oil stocks.

Fuel oil stocks rose by 33.3pc to a seven-week high of 1.26mn t. The Eagle San Francisco and the Frio — both Suezmax-sized tankers — are currently in Rotterdam awaiting loading. Firm demand from east of Suez continues to draw smaller cargoes into ARA for loading into larger tankers. Tankers arrived in the ARA area from Canada, France, Latvia, Russia, Spain and the UK. A single tanker left the area for west Africa.

Naphtha stocks also rose, increasing by 8.3pc to 261,000t. Outflows to inland end users remained under downward pressure from problems arising from low Rhine water levels. Naphtha demand from gasoline blenders in northwest Europe also remained low. Dwindling demand from end users in Asia-Pacific limited viable outlets for European naphtha, helping to bring outright prices to their lowest since February, at $545.50/t. Vessels arrived from Algeria, Finland, France, Norway and the UK. None left the area.

Jet kerosene stocks rose by 2.9pc to 644,000t. The Pro Triumph arrived into Rotterdam on 4 November carrying an 80,000t jet fuel cargo from India, and a single tanker departed for the UK. Steep backwardation in underlying Ice gasoil futures made the economics of storing jet fuel in tank unattractive, creating an incentive for end users to consume purchased volumes promptly.

Stocks of gasoil fell by 133,000t to 2.38mn t, the lowest level recorded since 19 July, amid tight supply in Europe. Margins for French 10ppm diesel cargoes on a cif Le Havre basis climbed to $23.85/bl against North Sea Dated yesterday, from $20.48/bl a week earlier — to their widest point since November 2012. Margins have averaged some $14.69/bl in the year to date. Tankers arrived in the ARA area from Russia and the US, and departed for the UK, west Africa and Germany. Low Rhine water levels have prompted market participants to transport gasoil to north German ports on tankers, before sending them inland via rail.

Gasoline stocks fell by 42,000t to 943,000t, the lowest level since late 20 September. Remaining supply of summer-grade product helped incentivise bookings to Argentina and Australia. Tankers also left for Latin America, China and west Africa. Tankers arrived from Denmark, France, Italy, Norway and the UK. Northwest Europe remained amply supplied. As with gasoil, gasoline was increasingly being transported into inland Germany by rail in response to low Rhine water levels.

Reporter: Thomas Warner

Artikel heeft nog geen reacties. Klik om te lezen/reacties te plaatsen

ARA independent product stocks fall

Gepubliceerd Jacob on 12 oktober 2018 15:14:01

London, 11 October (Argus) — Oil product stocks held in independent storage within the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell by 2.4pc from a week earlier, largely as a result of a significant drop in fuel oil volumes. Stock levels of other products were broadly stable.

Fuel oil stocks fell by 17.3pc to 1.03mn t, prompted by the loading and departure of several cargoes during the week to today. The Max Jacob, booked by Litasco to ship 130,000t of HSFO to Singapore loaded on 4 October and headed eastbound. The South Sea, booked by P66 to ship 130,000t of cracked fuel oil from Rotterdam to Singapore, likely started loading on 11 October. Tankers also left the ARA area for west Africa and the Mideast Gulf. Arbitrage economics to take high-sulphur material from northwest Europe to Asia Pacific strengthened in the past week. The Singapore second-month 380cst swap premium to HSFO cargo prices in northwest Europe averaged $33/t on 4-10 October, compared with an average spread of $29.70/t during the prior five trading days. A total of 430,000t of fuel oil was booked to Singapore this week.

Gasoline stocks fell by 25,000t to 1.06mn t, with outflows being supported by efforts to sell off stored summer-grade volumes. Cargoes arrived in the ARA area from Finland, Spain and the UK. Tankers left the area for the Mideast Gulf, Brazil, Latin America and the Mediterranean. Naphtha stocks fell by 11,000t to 341,000t, prompted by steady demand from inland petrochemical end-users and low volumes arriving in the area. Tankers arrived from Algeria, France and Portugal, and none were seen departing.

Stocks of gasoil rose by 102,000t to 3.04mn t, the highest level since mid-February 2018. Tankers arrived in the ARA area from Russia and Saudi Arabia, and departed for France, the Mediterranean and the UK. Low water levels on the river Rhine continued to impact barge traffic into Germany and France, bolstering interest in other forms of product transport. Cargo freight rates from the ARA continued to rise as a result, with some operators preferring to move material inland via other coastal outlets.

A single jet kerosene cargo arrived in the ARA area during the week to 11 October and a single tanker left for the UK. Inventories were effectively unchanged on the week at 674,000t. The Raysut partially offloaded in Rotterdam following a partial deposit into Fawley. The vessel had been sitting in the English Channel since 18 June, as the buyer was exercising some of its contract options by waiting to offload. Northwest European jet fuel demand has fallen since last week. Imports from east of Suez have been thin, with most arrivals entering UK and French ports.

Reporter: Thomas Warner

Artikel heeft nog geen reacties. Klik om te lezen/reacties te plaatsen

ARA independent product stocks up

Gepubliceerd Jacob on 20 juli 2018 12:03:12

London, 19 July (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose by 6pc week on week to 5.8mn t today.

The increase was mostly driven by a 13pc rise in total fuel oil inventories, but stocks of most other oil product rose as barge freight rates continue to rise, weighing on demand. Barge freight rates on the Rotterdam-Karlsruhe route increased by 26pc on the week to $24/t and are now at their highest level since at least July 2017. Jet fuel stocks fell amid high seasonal demand.

Fuel oil inventories rose with no very large crude carriers (VLCCs) departing the area in the week to today. The VLCC Stallion, chartered by South Korea’s SK Energy to carry a 270,000t cargo to Singapore, was loading during the reporting period. The VLCC Fida, chartered by Shell to also carry a 270,000t cargo to Singapore, began loading on 14 July. Smaller cargoes left the area for the Mideast Gulf and the Mediterranean. Stored volumes were supported by cargoes arriving from the Black Sea, France, Russia, Spain and the UAE.

Gasoil inventories rose by 2.5pc, supported by an influx of diesel arriving from the UAE on board the VLCC Stallion. The newbuild was chartered by Asia-Pacific trading firm Winson Oil to carry a 270,000t ultra-low sulphur diesel (ULSD) cargo to northwest Europe from Fujairah, arriving 10 July. The tanker partially discharged via ship-to-ship transfer offshore Southwold in the UK, before unloading fully in the port of Rotterdam, and being chartered to carry fuel oil to Singapore.

As with other products, the high Rhine barge freight rates impacted gasoil outflows. Barge freight rates on at least one route rose to double the cost of the equivalent pipeline transfer. Cargoes arrived from Russia, Saudi Arabia and the UAE.

Gasoline inventories rose by 9pc. Transatlantic outflows remained at the levels seen in recent weeks but outgoing volumes to west Africa were lower on the week. Cargoes departed the ARA area for Canada, Latin America, the US and west Africa. Cargoes arrived from Finland, France, Norway and the UK.

Naphtha stocks rose by 3pc, supported by rising volumes of cargo arriving from Algeria. Demand from inland petrochemical end-users firmed on the week as falls in underlying crude prices boosted cracking margins. Cargoes arrived from Algeria, France, Portugal, Russia and the UK. None left the area during the reporting period.

Jet kerosine stocks fell by 1.8pc as demand remained strong through the peak summer flying season. And buying interest for jet fuel barges in the ARA increased, with market participants seeking to move volumes to regional airports. The Sti Precision arrived into Rotterdam on 13 July with 65,000t of jet fuel from Bahrain. A single cargo departed the ARA hub for the UK.

Reporter: Thomas Warner

Artikel heeft nog geen reacties. Klik om te lezen/reacties te plaatsen

ARA independent product stocks fall on the week

Gepubliceerd Jacob on 13 juli 2018 13:02:57

London, 12 July (Argus) — Oil products held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell by 2pc week on week to 5.5mn t today.

The decrease was prompted by a 20pc fall in total fuel oil inventories. Other oil product stocks rose, as low water levels on the Rhine continued to weigh on flows.

Fuel oil inventories fell although no very large crude carriers were reported leaving ARA this week. Cargoes — including two loaded on the Suezmaxes the Bouboulina and the Delta Hellas — departed for the Mideast Gulf, the Mediterranean and Singapore. Cargoes arrived from Estonia, Russia, the UK and Canada. Inflows from Canada are sporadic and tend to be high sulphur fuel oil.

The VLCC Fida is due to begin loading fuel oil from Rotterdam on 14 July.

Naphtha recorded the highest rise in percentage terms. Stocks rose by 11pc amid weaker demand from gasoline and petrochemical end-users. Around half the usual volume left the ARA on barges amid higher Rhine freight costs, which hit their highest since August 2017. Cargoes arrived from Algeria, Norway, Portugal, Russian and the UK.

Gasoil inventories rose by 5pc on weaker demand for heating oil and industrial gasoil. Gasoil cargoes arrived in the ARA area from Russia, the UAE and the US. Tankers departed for the Mediterranean and the UK.

Jet kerosine stocks rose by 4pc, reaching their highest since 16 November 2017. Demand for jet kerosine is seasonally steady but outflows were limited by barge loading restrictions. A 70,000t cargo arrived from Saudi Arabia, and two tankers left the ARA area for Norway and the UK.

Gasoline inventories were broadly stable, rising by less than 1pc. Outflows to North America were healthy, at around 185,000t, but outgoing volume was offset by inflows from the Mediterranean and northwest Europe. Cargoes also departed the ARA area for the Mideast Gulf and the Mediterranean. Cargoes departed the ARA for Argentina, Canada, Latin America, west Africa and the US. Cargoes arrived from Denmark, France, Italy, Spain and the UK.

Reporter: Thomas Warner

Artikel heeft nog geen reacties. Klik om te lezen/reacties te plaatsen

ARA independent product stocks edge up

Gepubliceerd Jacob on 29 juni 2018 9:56:23

London, 28 June (Argus) — Oil product stocks held in independent storage tanks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose by 2pc week on week to reach 5.7mn t today.

The increase in total stocks was driven by a 5pc rise in fuel oil inventories to around 1.61mn t, the highest level on record. The rise in fuel oil inventories resulted from high levels of incoming cargo and volume awaiting loading onto two very large crude carriers (VLCCs) currently docked in Rotterdam.

Fuel oil cargoes arrived in ARA over the last week from the Black Sea, Estonia, Norway and Russia. Cargoes left the area for the Mediterranean.

Gasoil stocks were steady. Demand from inland Germany firmed on the week but remains below the seasonal average. Low Rhine water levels impacted diesel and gasoil loadings, which are at around 70pc of their normal levels. Diesel demand from France and Switzerland was firm amid lower inventories in the two countries. Gasoil cargoes arrived in the ARA area from Russia, the US and west Africa. Cargoes left for France, Germany, Portugal and the UK.

Naphtha stocks recorded the largest percentage rise, increasing by 7pc amid weakening demand from petrochemical end users and a lack of interest from gasoline blenders. Barge loadings restrictions on the river Rhine also affected Naphtha flows. Cargoes arrived from Algeria, Russia, Spain and the UK.

Jet kerosine stocks were steady amid stable demand. A 90,000t cargo arrived in the ARA area from Yanbu, discharging on 25 June in Antwerp. A single cargo left the area for the UK.

Gasoline inventories declined slightly amid rising transatlantic exports and higher outflows to other European markets. Cargoes departed ARA for Canada, Denmark, France, Germany, Latin America, the US and west Africa. Cargoes arrived from Italy, Lithuania, Norway, Sweden and the UK.

Reporter: Thomas Warner 

Artikel heeft nog geen reacties. Klik om te lezen/reacties te plaatsen