Category: ARA stocks

19 September, 2019 (Argus) — A fall in gasoil inventories has prompted a drop in the total volume of oil products held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub in the past week.

Gasoil stocks fell in the week to 18 September, reaching their lowest level since 6 June, amid low volumes of incoming cargoes. Flows to Europe from the US have been squeezed by rising US shipments to Brazil, where the sugar cane harvest is spurring demand. And demand for gasoil barges along the river Rhine fell in the past week as water levels continued to decline, which restricts loadings and increases barge freight rates. Gasoil tankers arrived in ARA from the Baltic area and Russia, and departed for west Africa and the Caribbean.

Gasoline stocks fell by just over 1pc, depleted by robust exports to the US and the Caribbean. Transatlantic exports from northwest Europe are being supported by the upcoming switch to winter-grade gasoline. Outflows to the US and the Caribbean accounted for the majority of gasoline cargoes departing ARA, but tankers also left for Mexico, the Mideast Gulf and west Africa. Gasoline cargoes arrived in ARA from Finland, France, Latvia, Russia and the UK. Congestion at terminals in Antwerp and Amsterdam, which affected barge loadings earlier this month, eased in the past week.

Fuel oil inventories rose on the week, with shipments arriving from France, Latvia, Russia, Sweden and the UK. Fuel oil cargoes departed for the US and west Africa.

Jet fuel stocks in ARA fell, broadly in line with seasonal expectations. A single jet fuel tanker arrived from South Korea, and no cargoes departed.

Naphtha stocks rose on the week. Cargoes arrived in ARA from Algeria, Lithuania, Norway, Russia and Spain. The gasoline blending sector accounted for most of the demand, with low interest from inland petrochemical plants owing to scheduled maintenance turnarounds.

Reporter: Thomas Warner

12 September, 2019 (Argus) — Inventories of oil products independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub have increased in the past week, driven by a rise in gasoline stocks.

Inventories of all other surveyed products fell in the week to 11 September. But gasoline stocks rose to hit a four-week high, with a high volume of incoming cargoes more than offsetting increased outflows particularly to transatlantic destinations.

Gasoline tankers have arrived from the Baltics, France, the Mediterranean, Norway, Russia and the UK in the past week. Congestion at terminals in Antwerp and Amsterdam affected both tanker and barge loadings, some of which were delayed. Meanwhile, gasoline tankers departed ARA for Canada, Latin America, the US and west Africa.

Inventories of gasoil, fuel oil, naphtha and jet fuel all fell. Naphtha stocks dropped on the week. Cargoes arrived in ARA from Algeria, Norway, Portugal, Russia, Spain and the UK. But these were generally on small tankers, with the naphtha heading straight to gasoline-blending plants rather than being stored. Barge traffic to inland petrochemical facilities was constrained by scheduled maintenance and unplanned turnarounds at several sites.

Gasoil inventories declined by around 1pc on the week in a broadly stable market. Demand for gasoil barges along the river Rhine was steady in the week to 11 September but could tick down ahead of a projected fall in Rhine water levels, which increases barge freight rates. Gasoil tankers arrived in ARA from Poland and Russia in the past week and departed for the UK and west Africa.

Fuel oil inventories fell by around 1pc on the week. No tankers departed for Singapore, but the Sydney Spirit did depart for west Africa. Tankers arrived from France, Italy and Russia. Jet fuel stocks in ARA dropped by 4pc, with no tankers arriving from elsewhere to replenish volumes used by the aviation sector.

Reporter: Thomas Warner

5 September, 2019 (Argus) — Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) fell.

Gasoil and fuel oil stocks rose week on week, but inventories of gasoline, naphtha and jet fuel fell.

Gasoline inventories dropped by more than 10pc to reach their lowest since the week to 31 May amid high outflows to the US and west Africa. Demand from along the river Rhine continued to receive support from the outage of the fluid catalytic cracker (FCC) at b/d Miro refinery, keeping barge traffic inland at a high level. The FCC at Miro is expected to restart during the week beginning 9 September. But low Rhine water levels prompted loading restrictions, increasing the number of barges needed to carry each cargo. Seagoing tankers arrived in ARA from France, Italy, Russia, Sweden and the UK. The elevated level of tanker and barge traffic caused congestion and loading delays in the Amsterdam and Antwerp areas, particularly during the early part of the week.

Naphtha inventories were also lower on the week, with less arriving by tanker and demand high from gasoline blenders in the ARA hub. Barge traffic to inland petrochemical end-users was low owing to scheduled maintenance turnarounds at several sites. Tankers did arrive from Denmark, France, Spain and the UK while none departed.

And jet fuel stocks in ARA fell, largely as a result of a week-on-week fall in the volume arriving by tanker. A single cargo arrived in ARA from Saudi Arabia. Tankers departed for Ireland and the UK.

Gasoil inventories rose on the week with more volume arriving by tanker and barge restrictions inhibiting flows to inland destinations in spite of firm demand. Buying interest in diesel continued to be buoyed by the outage at Miro. Tankers arrived from India, Russia, the UK and the US. Fuel oil inventories rose on the week. No tankers departed for Singapore and tankers arrived from France, Poland, Russia and the UK.

Reporter: Thomas Warner

29 August, 2019 (Argus) — Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) rose during the week to yesterday.

Inventories of most surveyed products were broadly stable on the week in percentage terms, with naphtha and jet kerosene the two exceptions. Naphtha inventories rose on the week after reaching their lowest since May 2016 a week earlier. Scheduled maintenance at petrochemical sites in northwest Europe weighed on demand, and the volume of naphtha leaving the ARA on barges for inland destinations fell on the week as a result. Tankers arrived from Algeria, France, Norway and the UK while none departed.

Jet fuel stocks in ARA rose for the first time in six weeks, increased. Demand from the aviation sector began to show signs of easing as peak summer demand season drew to a close, and tankers arrived in ARA from Singapore and South Korea. Tankers departed for the UK.

Gasoil inventories fell on the week to reach their lowest since 6 June. Favourable arbitrage economics drew in tankers from Singapore and Saudi Arabia, while tankers departed for the UK, the Mediterranean and west Africa. The volume of gasoil heading up the river Rhine on barges remained stable on the week at a high level, supported by an outage at the 301,000 b/d Miro refinery. The FCC at the refinery is expected to restart during the week beginning 9 September.

Inland flows of gasoline were also supported by the outage at Miro, and the volume of gasoline leaving ARA for west Africa rose on the week. But a temporary fall in outflows to the US and incoming cargoes from France, Russia, Sweden and the UK meant that inventories rose on the week. The barge congestion that had affected tanker and barge loadings particularly around the Amsterdam area in recent weeks eased.

Fuel oil inventories rose on the week. Two VLCCs that had been waiting in the Rotterdam area left the region without loading any fuel oil. But at least one tanker did depart for west Africa, and cargoes arrived from Lithuania, Russia and Poland. No fuel oil fixtures have been booked to leave ARA for Singapore in the coming weeks.

Reporter: Thomas Warner

22 August, 2019 (Argus) — Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) fell below, the lowest since the week to 31 May.

Gasoil inventories fell with barge flows up the river Rhine increasing for the third consecutive week. Lower barge freight rates have encouraged loadings on the river. A tanker departed for northern Germany.

Gasoline inventories fell on the week to reach their lowest since the week to 31 May. The week-on-week drop was the heaviest recorded since March 2017, because of a temporary rise in exports to the US Atlantic coast and higher demand from Germany. Buying interest from the country rose week on week as a result of production issues at the Miro refinery.

Naphtha inventories dropped to reach their lowest level since May 2016. Scheduled maintenance at petrochemical facilities in northwest Europe continues to weigh on demand, pressuring prices downward and reducing the number of cargoes arriving in the area. Meanwhile, local demand for the grades used in gasoline blending has increased.

Fuel oil inventories rose on the week, after falling the previous week. No tankers departed for Singapore, but two very large crude carriers (VLCCs) remain in the Rotterdam area, and could potentially load cargoes.

Jet fuel stocks in ARA fell to reach their lowest since 21 March. Demand from the aviation sector remained firm in line with seasonal expectations.

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16 August, 2019 (Argus) – Inventories of all surveyed products fell week on week, with the exception of gasoline stocks which reached fresh six-month highs. Gasoline inventories rose on the week to their highest since 7 February as market participants arranged cargoes ready for export to the US and West Africa. Barge congestion remained a factor in the Amsterdam area for the second consecutive week with barges and tankers competing for loading and discharge terminals. Outflows to the US and West Africa rose week on week and tankers also departed for west Africa. Tankers arrived in ARA from France, Germany, Sweden and the UK.

Naphtha inventories fell following a week-on-week fall in imports. Demand from along the river Rhine fell owing to upcoming petrochemical plant maintenance in Germany. Interest from gasoline blenders was more robust and most of the incoming naphtha was probably destined for the northwest European blending pool. Tankers arrived from Algeria, Norway, Russia and the UK.

Gasoil inventories fell with inland demand for diesel prompting the second consecutive week-on-week rise in barge flows up the river Rhine. The volume of incoming gasoil rose on the week and tankers arrived from Russia and the US. But more gasoil also left the area, with tankers departing for France, the Mediterranean and the UK.

Fuel oil inventories fell by on the week. The Suezmax Militos departed Rotterdam for Singapore and tankers also departed for west Africa. Demand for high sulphur fuel oil is under long-term downward pressure from upcoming changes to maritime fuel regulations. Tankers arrived from the Black Sea, Latvia, Poland and Russia.

Jet fuel stocks in ARA fell by to reach their lowest since 11 April. Demand from the aviation sector was firm in line with seasonal expectations, and no jet fuel tankers arrived from elsewhere. An anticipated turnaround at South African firm’s 105,000 b/d Engen refinery has prompted the diversion of two jet fuel tankers to the area that were originally expected to discharge in northwest Europe. Tankers departed the ARA area for Ireland and the UK.

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8 August, 2019 (Argus) — Inventories of oil products independently held in the Amsterdam-Rotterdam-Antwerp (ARA) storage hub have fallen in the past week..

Stocks of most surveyed products fell slightly week-on-week, with the exception of naphtha and gasoline, which rose to four-week and six-month highs respectively. Gasoline inventories reached their highest weekly level since early February, driven by market participants collating cargoes ready for export to the US and west Africa. Congestion returned to the Amsterdam area after a temporary lull, with barges and tankers competing for loading and discharge terminals. Blending demand for west African grade gasoline has firmed following last month’s direct sale-direct purchase (DSDP) award by Nigerian state-owned NNPC for its 2019-20 gasoline requirements. Blending demand for US-grade gasoline also remains robust, as European cargoes continue to make up the shortfall arising from a fire at Philadelphia Energy Solutions’ refinery in Philadelphia in June. Gasoline cargoes have arrived in the ARA area from Finland, the Baltics, France, Italy, Russia and the UK in the past week.

Naphtha inventories rose by substantially on the week to reach their highest level since the week to 11 July. Rising supply in northwest Europe pushed the naphtha market briefly into contango today, with prompt prices weaker than contracts for delivery further forward. Tankers carrying naphtha arrived in the ARA area from Algeria, France, Norway, Poland and Sweden in the past week, while none departed. Demand from gasoline blenders working to meet export demand appeared stronger than demand from petrochemical customers, many of whom are preparing for scheduled maintenance turnarounds.

Gasoil inventories fell in the past week, with rising water levels supporting demand from buyers along the Rhine in Germany. Gasoil barge trade within the ARA area was slow, particularly in comparison with gasoline. Gasoil cargoes arrived in ARA from Russia and Saudi Arabia and departed for France and the UK.

Fuel oil inventories fell on the week. The very large crude carrier (VLCC) Ridgebury Pride had been scheduled to load 270,000t from Rotterdam around 3 August for delivery to Singapore, but remains at anchor in the North Sea unladen. Fuel oil tankers arrived in the ARA area from Poland and Russia and departed for west Africa. Demand for high-sulphur fuel oil is under long-term downward pressure from upcoming changes to maritime fuel regulations.

Jet fuel stocks in the ARA hub fell to reach nine-week lows. Demand from the aviation sector was firm, in line with seasonal expectations, and no jet fuel tankers arrived from elsewhere.

1 August, 2019 (Argus) — Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) rose on the week to the highest total since 4 May 2017.

The overall rise in inventory levels was led by a rise in fuel oil inventories. A tanker departed the region for west Africa and the eastbound arbitrage route to Singapore appeared closed. Northwest European market participants have been moving high sulphur fuel oil out of the region in anticipation of upcoming changes to maritime fuel regulations. BP chartered the VLCC Ridgebury Pride from Rotterdam to Singapore with loading expected to commence around 3 August. Fuel oil tankers arrived in the ARA area from Denmark, Latvia, the UK and Russia.

Naphtha inventories also rose by double-digits, increasing after reaching their lowest level recorded since January 2017 the prior week. Tankers arrived from Algeria, France, Poland, Russia, Sweden and the UK while none departed. Buying interest from the gasoline blending sector fell on the week to weigh on local demand.

Gasoil inventories rose to reach their highest since October 2018. Demand from along the river Rhine continued to fall following a period of inland restocking and loading restrictions resulting from low water levels. With almost no rainfall forecast in southwest Germany until the end of July, German importers spent the early part of summer preparing for possible low water levels by moving gasoil barges from the ARA area up the Rhine for inland storage. Exports to west Africa rose on the week and tankers also departed for the UK. Tankers arrived from Russia, Saudi Arabia and the US.

Outflows of gasoline to the US Atlantic coast were stable on the week, and tankers also departed for west Africa. Inventory levels rose and tankers arrived from Finland, France, Norway, Russia and the UK. Gasoline barge traffic around the ARA area fell on the week, reflecting a downtick in blending activity and loading restrictions on gasoline barges arriving from along the Rhine. Blending for export to the US may be waning in anticipation of the end of the peak summer demand season across the Atlantic.

Jet fuel stocks in ARA fell to reach eight-week lows. Demand from the aviation sector was firm in line with seasonal expectations. No jet fuel tankers arrived, but at least one departed for the UK.

Reporter: Florence Schmit

25 July, 2019 (Argus) — Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) fell this week from two-year highs a week earlier.

Overall stocks fell in fuel oil inventories. Suezmaxes left the ARA area for west Africa and to Singapore, where a bunker fuel shortage has opened the arbitrage from Europe after two months of limited flows.

Naphtha inventories fell to the lowest level since January 2017. Seaborne arrivals fell and demand held firm both locally and along the Rhine river. Demand from gasoline blenders has been supported in recent weeks by high transatlantic outflows of gasoline. Tankers carrying naphtha arrived in the ARA area from Denmark, Portugal, Russia and the UK.

Outflows of gasoline to the US fell on the week, but transatlantic shipments remained at a high level with a rise in tankers departing for Latin America. A week-on-week increase in gasoline cargoes arriving from Russia supported inventories, which rose by 1.1pc. Tankers also arrived from France, Norway and the UK. Barge congestion eased in Amsterdam.

Gasoil inventories rose by to a nine-month high. Demand from along the Rhine ticked down for a second consecutive week. With almost no rainfall forecast in the southwest of Germany until the end of July, German importers spent the early part of summer preparing for possible low Rhine water levels by moving gasoil barges from ARA up the river for inland storage. Falling Rhine water levels have since prompted the imposition of barge loading restrictions and subdued the trade.

ARA jet fuel stocks fell to a seven-week low. Demand was firm, seasonally. A part-cargo arrived from India, and tankers departed for the UK.

Reporter: Thomas Warner

19 July, 2019 (Argus)  Inventories of oil products independently held in the Amsterdam-Rotterdam-Antwerp (ARA) area have risen in the past week to reach their highest level since May 2017.

Stocks of all surveyed products except naphtha increased, with gasoline inventories rising the most in percentage terms. Tankers loaded with gasoline arrived in ARA from France, Norway, Russia, Spain and the UK in the past week, with inflows from the Mediterranean and Russia notably high. The arbitrage route from northwest Europe to the US remains open and market participants are bringing gasoline and blending components to the region ready for transatlantic export. Tankers left the region for the US, Argentina, the Caribbean and the Mediterranean. The high volume of incoming and outgoing seaborne cargoes added to the congestion in the gasoline barge market, particularly around Amsterdam. Tankers and barges often load and discharge from the same jetties.

Gasoil inventories rose in the past week to reach their highest level since October 2018. Demand along the river Rhine ticked downwards after inland restocking pulled in high volumes during the previous week, and seaborne arrivals from Russia rose. Tankers also arrived from Saudi Arabia and the US, while cargoes left for France, the UK and west Africa.

Fuel oil stocks rose. No tankers departed for key arbitrage destination Singapore, but fuel oil cargoes did depart for the Mediterranean, Saudi Arabia and west Africa. Tankers arrived from Lithuania, Poland and Russia.

Jet fuel stocks in the ARA area rose during the past week. Demand from the aviation sector was firm in line with seasonal expectations, and market participants suggested that there was little spot volume available. Tankers arrived from India and Singapore, and departed for Denmark, Ireland and the UK.

Naphtha inventories bucked the trend, falling on the week amid firm demand from gasoline blenders in the ARA area. Tankers arrived from Algeria, Denmark, France, the Mediterranean, Russia and the UK, while none departed.

Reporter: Thomas Warner