Category: ARA stocks

March 25, 2021 — Independently-held inventories of oil products in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub edged slightly up during the week to yesterday.

Overall oil product stocks rose, according to consultancy Insights Global. Increases in gasoil, gasoline and naphtha stocks offset declines in jet fuel and fuel oil inventories.

Gasoil stocks rose after hitting their lowest level since April 2020 a week earlier, supported by the arrival of several cargoes from the Russian Baltic. Tanker outflows from the ARA area were broadly stable on the week, with cargoes departing for the UK, Ireland, the Mediterranean and west Africa.

But barge flows to inland destinations along the river Rhine fell, after reaching their highest weekly total since January during the week to 17 March. Demand around the continent is under pressure from renewed measures to combat the Covid-19 pandemic.

Gasoline stocks also rose, supported by the arrival of tankers from France, Ireland, Portugal, Sweden and the UK. Exports to west Africa fell on the week, while departures to the US Atlantic coast were steady. Refining across the Atlantic has largely recovered from the winter storms that affected production in February, and which drew in a glut of European gasoline cargoes. Tankers also departed ARA for Canada and the Caribbean.

Naphtha stocks rose on the week by more than any other surveyed product in percentage terms. Demand for naphtha within northwest Europe is low, owing to a lack of urgency from European gasoline blenders and increasing competition from lighter rival petrochemical feedstocks.

The volume of naphtha leaving the ARA area on barges for petrochemical sites inland fell on the week, and no seagoing tankers departed. Naphtha cargoes arrived from Russia, Norway and the UK.

Jet fuel stocks in ARA fell to two-month lows, weighed down by the departure of several tankers for the UK and the departure of at least one barge for a German airport inland. No jet fuel cargoes arrived from elsewhere.

Fuel oil stocks decreased. Tankers arrived in ARA from around northwest Europe and the Baltic Sea, and departed for west Africa, Saudi Arabia and Port Said for orders.

All refined product movements from Europe to destinations east of Suez are currently subject to change, owing to the blockage of the Suez Canal by a large container ship.

Reporter: Thomas Warner

March 11, 2021  – Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose in the week to Thursday, data from Dutch consultancy Insights Global showed.

Gasoline inventories were up mainly due to a weak demand up the Rhine River, said Patrick Kulsen, managing director for Insights Global.

Gasoil stocks fell due to uptick in loadings up the Rhine and also strong exports to Brazil and Morocco, Kulsen said. 

Naphtha stocks had a big drop after a sharp rise in the previous week. 

Fuel oil and jet fuel stocks remained steady. 

Reporter: Bozorgmehr Sharafedin

March 18, 2021 – Independently-held inventories of oil products in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub edged down by during the week to yesterday, driven by gasoil stocks dropping to their lowest level in 11 months.

Overall oil product stocks fell according to consultancy Insights Global. Declines in gasoil and gasoline inventories more than offset small builds in jet fuel, naphtha and fuel oil stocks.

Gasoil stocks hit their lowest level since April 2020, despite the arrival of cargoes from the Mideast Gulf and Russia. Barge flows from the ARA area to inland destinations along the river Rhine reached their highest weekly total since January, although they were still lower than typical levels for the time of year. Outflows to west Africa rose, and tankers carrying gasoil also departed for Argentina, Portugal and the UK.

Gasoline stocks also fell, drained by exports to the US and west Africa. Tankers also departed ARA for Canada and Latin America. Low demand from within northwest Europe is making ARA gasoline cargoes attractive to buyers in other regions. European gasoline was booked for export in the week to 12 March, the highest seven-day volume recorded so far this year. Gasoline cargoes arrived in ARA from Denmark, Germany, Norway and the UK.

In contrast, fuel oil inventories in ARA reached their highest level since June 2020, supported by the arrival of at least five Baltic cargoes as well as shipments from Spain and the UK. A closed arbitrage route from Europe to Singapore has contributed to the rise in fuel oil stocks, although tankers carrying fuel oil did depart ARA for the Mideast Gulf, the Mediterranean and the Suez area for orders. 

The arrival of naphtha cargoes from Finland, Norway and Russia was almost entirely offset by the departure from Rotterdam to Brazil. Naphtha supply around the continent is high, particularly in the Mediterranean and Baltic areas, and the arbitrage route to Asia-Pacific is open as a result. Trading firm Trafigura has booked the Sea Star to load from Skikda in Algeria on 25 March, with discharge options in Brazil and Asia-Pacific.

Jet fuel stocks in ARA inched higher against a backdrop of continued low demand from the aviation sector. Tankers carrying jet fuel arrived from India and the UAE, while one departed for the UK.

Reporter: Thomas Warner

March 4, 2021 – Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose in the week to Thursday, data from Dutch consultancy Insights Global showed.

Gasoline inventories rose due to a high volume of products coming down the Rhine river and also strong imports to the region from elsewhere, said Patrick Kulsen, managing director for Insights Global. 

Gasoil stocks dropped due to high exports, Kulsen said. Naphtha stocks rose and Fuel oil stocks remained steady. 

Reporter:Bozorgmehr Sharafedin

February 18, 2021 — Independently-held inventories of oil products in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell during the seven days to yesterday, according to consultancy Insights Global.

ARA stocks have fallen over the past week, after reaching their highest since 8 October the previous week.

The stock draw was led by a fall in gasoil stocks, which dropped by more than any other surveyed product on an outright basis owing to an increase in barge flows to inland destinations.

Flows of diesel and heating oil up the river Rhine were halted earlier in the month owing to high water levels, and the backlog has been making its way upriver over the past week. Seagoing cargoes arrived in the ARA area from Russia, and departed for the UK and the US, where refinery activity has been impacted by cold weather.

The disruption across the Atlantic also affected the other surveyed refined product groups. Gasoline stocks rose despite healthy inflows of finished grade gasoline and components to the ARA area from France, Italy, Poland, Spain, Sweden and the UK.

The arrival of cargoes was almost entirely offset by rising outflows. Exports to the US rose slightly on the week, a week so far in February. Local gasoline consumption remained very low as a result of Covid-19 restrictions.

The rise in gasoline blending activity occasioned by the rise in transatlantic exports has increased demand for naphtha from northwest European gasoline blenders. Naphtha stocks fell, despite no tankers departing the area and cargoes arriving from Norway, Russia and Sweden.

Barge flows from the ARA to petrochemical sites inland were steady on the week at a level below the average recorded so far this year.

The amount of fuel oil stored in the area ticked down on the week, and tankers departed for the Mediterranean and west Africa. Cargoes did arrive from the Caribbean, France, Germany, Poland, Russia and the UK, but mostly on smaller tankers.

Jet stocks dropped on the week, weighed down by the departure of several cargoes for the UK. A part cargo arrived from the UAE. Jet demand around the continent remains at multi-year lows with continued pandemic restrictions.

Reporter: Thomas Warner

February 11, 2021 — Independently-held inventories of oil products in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose for a second consecutive week during the seven days to yesterday, according to consultancy Insights Global.

ARA stocks were at their highest since 8 October following a week on week gain, and higher than in the same week of 2020.

Stocks remain high elsewhere on the continent this year — products inventories in the EU-15 plus Norway rose on the month in January, higher than January 2020 levels, according to Euroilstock data.
With crude intake still critically low — refinery utilisation rates in the EU-15 plus Norway in January, the data indicate — rising stocks are probably a function of poor demand, as countries across Europe remain in lockdown.

The rise in ARA stocks was driven by a sharp gain in fuel oil inventories, which rose in the week to 10 February. Fuel oil was shipped into ARA storage from a number of countries in northwest Europe and the Baltics this week. Stocks could be rising as exporters accrue supply in tank for onward long-haul shipments in larger quantities.
Fuel oil left ARA storage for the Mediterranean and Singapore, while the VLCC Silverstone was spotted in the ARA region this week, where it could be loading fuel oil for a long-haul voyage.

The sharp rise in fuel oil stocks offset a sharp drop in naphtha, on the week, the lowest this year. The Jane was spotted to have left ARA storage on 9 February with naphtha,
which it will deliver to Brazil. According to Vortexa data that is the first such shipment this year. A rise in naphtha demand for gasoline blending could have contributed to the drop in stocks, as well as restrictions along the Rhine slowing trade flows.

Stocks of other products were more stable this week. Jet kerosine stocks rose, over double the level a year ago. Jet demand remains extremely weak as commercial aviation is severely restricted by the Covid-19 pandemic.

Gasoline stocks rose on the week, as inflows from a handful of countries in northern Europe and Spain offset exports to the Americas and west Africa.
Gasoline stocks are just above year-ago levels now, the lowest year on year rise of the products surveyed by Insights Global. A rally in the US gasoline market has prompted firmer Transatlantic exports of European gasoline, which could have contributed to the narrowing differential between 2020 and 2021 levels.

And gasoil stocks were little changed on the week, as cargoes flowed in from Russia, and out to France, the UK and the US. Restrictions along the Rhine river have been hampering middle distillates traffic in recent weeks.

Reporter: Robert Harvey

February 4, 2021 – Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose in the week to Thursday, data from Dutch consultancy Insights Global showed.

Gasoil inventories were up as severe weather and high level of water in Rhine River hampered trade and made some destinations unreachable, said managing director for Insights Global, Patrick Kulsen.

Gasoline stocks also rose due to low trade and weak consumption. Jet fuel stocks increased as the result of renewed lockdowns and low demand, said Kulsen. There were no exports from the region and no incoming cargoes.

Reporter: Thomas Warner

January 28, 2021 – The total amount of oil products held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell over the past week, according to consultancy Insights Global.

Stocks of all surveyed products fell, with the exception of fuel oil. Fuel oil stocks rose to reach their highest since late November.

The increase in available supply is weighing heavily on marine fuel prices in the Amsterdam-Rotterdam-Antwerp (ARA) area and creating export opportunities.

The VLCC Olympic Legend is currently waiting at the Port of Rotterdam and is likely to depart the area carrying a fuel oil cargo.

Fuel oil tankers departed the ARA area for the Mediterranean during the week to yesterday, and arrived from France, Poland, Russia and the UK.

All other inventories fell over the course of the reporting period. The heaviest fall on an outright basis was recorded on gasoil, which includes all middle distillates except for jet fuel. Flows up the river Rhine into France and Germany were broadly stable at their lowest since October 2020, weighed down by poor end-user demand for diesel.

The fall in stocks was prompted by the departure of gasoil tankers for France, Germany, the UK, west Africa and the Suezmax Sea Beauty departed for the Mediterranean. Tankers arrived from Latvia and Russia.

Gasoline inventories fell despite relatively low outflows to key export markets the US and west Africa. Cargoes departed instead for the Mideast Gulf, the Caribbean, Canada, east Africa, India and the Mediterranean.

There was no sign of any gasoline blending component barge congestion in the Amsterdam area, which suggests that the overall level of blending activity remains muted. Interest from consumers in northwest Europe is low, owing to Covid-19 travel restrictions.

Naphtha stocks continued to fall back from the six-month highs reached in mid-January, dropping on the week.

The volume of naphtha departing the ARA area for inland petrochemical sites fell on the week, as naphtha demand from the sector came under pressure from lighter rival feedstocks.

The fall in stocks came despite the arrival of tankers from Algeria, Russia and the UK.

Jet fuel inventories fell to their lowest since August with no cargoes arriving during the week to yesterday and tankers departing for Ireland and the UK.

Reporter: Thomas Warner

January 21, 2021 – The total amount of oil products held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose over the past week, according to consultancy Insights Global.

The overall rise was the result of significant increases in stocks of gasoil and fuel oil.

Low end-user demand for diesel made tank storage an attractive option for northwest European refiners, and inventories climbed to reach their highest level since 5 November.

Road fuel consumption has fallen so low in northwest Europe that some market participants in the region have been blending diesel into heating oil cargoes.

Demand for heating oil in northwest Europe is receiving some seasonal support from low temperatures. Gasoil cargoes arrived into the ARA area from Finland and Russia, and departed for the UK and France.

Fuel oil inventories rose by even more than those of gasoil, owing to an influx of cargoes from the Baltic area. Stocks rose, as Aframax tankers arrived into the ARA area from Russia and Estonia, with smaller cargoes arriving from Latvia and France.

Fuel oil demand within the ARA area is under pressure this week from poor weather around Antwerp, which is disrupting bunkering activity.

Gasoline inventories rose, supported by a week on week downturn in outflows from the region. No gasoline tankers departed for west Africa and
transatlantic exports fell on the week.

Tankers did depart for the Mideast Gulf and the Mediterranean, and arrived from Finland, Italy, Sweden and the UK. Some blending components arrived from France, while some finished grade material went up the Rhine into eastern France on barges.

Naphtha stocks fell back from the six-month highs reached the prior week, dropping as barge flows from the ARA area to inland Rhine destinations held steady at a high level. The fall in stocks came despite the arrival of tankers from Algeria, France and Norway.

Jet fuel inventories were virtually unchanged on the week, as the departure of a few small cargoes to the UK was largely offset by the arrival of a single cargo from the Mediterranean.

Reporter: Thomas Warner