ARA Fuel Oil Stockpiles Slump to 1-Year Low as Exports Rise

ARA Fuel Oil Stockpiles Slump to 1-Year Low as Exports Rise

(Bloomberg) – ARA fuel oil stockpiles slumped to their
lowest level in a year on higher exports to Asia and West
Africa, according to PJK International.
* Fuel oil stockpiles fell in past week, lowest
since March 15 of last year
** VL Prime and Nave Electron, both VLCCs, loaded in Rotterdam
within past week and sailed for Singapore; a third vessel,
Suezmax Summit Spirit, also loaded fuel oil for West Africa,
says Lars Van Wageningen, operations manager at PJK
* Naphtha stockpiles rose, highest since Oct. 25
** Higher imports in past week, including Suezmax shipment from
Algeria; some volumes could be destined for gasoline blending:
Van Wageningen
* Jet fuel stockpiles rose, highest since Jan. 31
** Imports arrived from U.A.E. in past week, while flight
cancellations in Amsterdam amid bad weather may have affected
demand: Van Wageningen
* Gasoil stockpiles drop for third week, fell;
lowest since Feb. 7; lowest for time of year since 2014
** While past week saw a lot of imports in ARA, most volumes
went onwards to other parts of NW Europe as well as to West
Africa, Van Wageningen says; notes that ICE gasoil deliveries,
to be reported next week, will offer signal on level of demand
for physical transport inland along the Rhine

Reporter: Bill Lehane

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