Category: Nieuws

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

12 July, 2019 (Argus) – Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) fell in the week to today.

Stocks of all surveyed products except naphtha fell on the week. Fuel oil inventories fell most heavily, dropping -week lows. The very large crude carrier (VLCC) Cosdignity Lake departed Rotterdam carrying oil cargo and a smaller tanker departed for west Africa. The arbitrage route to Singapore appeared to be workable in the past week. Vitol booked the VLCCs Front Duchess and FPMC C Melody to take fuel oil to Singapore, loading in Rotterdam on 15 July and 2 August, respectively.

Gasoil inventories fell. Demand from along the river Rhine was steady on the week with gasoil heading inland on barges. Disruption to refining activity caused by the Druzhba pipeline outage in April-May weighed on inland inventories, which are now being restocked. Tankers arrived from Russia and the US and departed for France and the UK.

Gasoline inventories fell on the week. Tankers arrived in ARA from the Black Sea, Norway, Russia, Spain and the UK. But higher demand from the US and rising demand from west Africa supported outflows. Gasoline barges continued to suffer loading delays in the Amsterdam area, with barges and tankers competing for slots.

Jet fuel stocks in ARA fell. Demand from the aviation sector was firm in line with seasonal expectations. No jet fuel tankers arrived in ARA during the reporting period, but at least one departed for the UK.

Naphtha inventories climbed on the week, with rising prices drawing in cargoes from Algeria, France, Latvia, Spain and the UK. The return from scheduled maintenance of several petrochemical facilities in Europe and firm demand from the gasoline blending sector has supported naphtha prices in northwest Europe and bolstered inflows.

Reporter: Thomas Warner

4 July, 2019 (Argus) – Inventories of oil products independently held in Amsterdam-Rotterdam-Antwerp (ARA) have increased by in the week to 3 July, buoyed by a rise in gasoil stocks, according to consultancy Insights Global.

Gasoil inventories rose. Production of middle distillates in the region is rising as refineries in northwest Europe return from planned or unplanned outages. These include three German facilities — Schwedt, Leuna refinery and Vohburg refineries — as well as the Rotterdam refinery and Cressier plant.

Gasoline inventories fell on the week as a result of higher exports to the US Atlantic coast and Canada. An increase in gasoline blending activity caused barge congestion in Amsterdam and Rotterdam as market participants moved finished grade product and components around the area. Tankers departed ARA area for Brazil, west Africa and northern Germany. But increasing refining activity in Germany is likely to curtail gasoline tanker movements from ARA to the country. Gasoline cargoes arrived from the Baltics, Finland, Norway, Spain and the UK.

Naphtha inventories rose on the week, after falling by a similar amount the previous week. Rising northwest European naphtha prices attracted cargoes from Algeria, Norway, Portugal, Russia and the UK.

Fuel oil inventories fell on the week. Tankers departed for the Mediterranean, west Africa and the Suezmax Minerva Evropi left Rotterdam for Singapore. Cargoes arrived in the ARA from France, Lithuania, Russia and the UK.

Jet fuel stocks in ARA fell back slightly from the two-year highs recorded during the last three weeks. Demand rose in line with seasonal expectations. But the return to service of the Leuna refinery weighed on demand for jet fuel barges on the river Rhine, as supply from inland increased. Jet fuel tankers arrived from the UAE and departed for the UK and Ireland.

Reporter: Thomas Warner