Gepubliceerd Jacob on 23 april 2015 9:20:34
London, 23 April (Argus) — Independent ARA stocks rose in the past week as fuel oil inventories showed a substantial gain and jet fuel stocks reached the highest level since May 2011. Total products stocks stood at 5.511mn t today, up by 97,000t from a week earlier.
Fuel oil stocks climbed by 181,000t to 1.157mn t. Bunker demand has slowed in northwest Europe, contributing to a stock build. And high refinery runs have further pushed up stocks. VLCC bookings to ship product east have tailed off, as higher VLCC freight rates dampen demand. But trading firms are continuing to compile Suezmax cargoes to ship from Rotterdam to Singapore.
Jet fuel inventories also increased, rising by 22,000t to 639,000t to reach the highest levels in nearly four years as demand for the product in Europe remained low, while imports from the Mideast Gulf remained steady despite a closed arbitrage. The market is currently in a contango, providing an incentive to store product and refinery runs remain at a high level.
Other products saw declines in stock levels during the week. Naphtha inventories fell by 32,000t to 187,000t in the past week as the market remained in a backwardation, while supplies of heavy naphtha fell compared with the previous week’s levels.
Gasoline inventories declined by 43,000t to 894,000t during the period as arbitrage to the US was busier and export flows to West Africa remained steady.
And gasoil stocks dropped by 31,000t to 2.634mn t as inland demand strengthened with more barges going down the Rhine than last week.
Sergei Balashov (Argus Media Reporter)
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Gepubliceerd Jacob on 8 september 2014 17:22:21
De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich op belading in de eerste helft van september.
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