Category: Nieuws

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

27 June, 2019 (Argus) — Inventories of oil products independently held in the Amsterdam-Rotterdam-Antwerp (ARA) area have risen this week, boosted by gasoline and fuel oil stock builds.

Total oil product stocks in the ARA hub rose in the week to 26 June, according to consultancy Insights Global. The week-on-week increase was driven by rises in fuel oil and gasoline inventories, respectively (see table).

Gasoline refining margins in Europe rose this week, boosted by increased demand for the product as a result of the shutdown of Philadelphia Energy Solutions Philadelphia. Sellers are likely accumulating gasoline in tanks ready for blending before export to the US in the coming weeks.

Rising prices drew in cargoes from Italy, France, Portugal and the UK. Gasoline barge movements rose on the week as market participants organised product for export. But demand from along the Rhine fell on the week. Refineries affected by the Druzhba crude pipeline contamination gradually returned to full production.

Fuel oil inventories rose on the week. Exports were limited with inventories in key market Singapore ample. No VLCCs loaded during the week to yesterday.

Naphtha supplies held in ARA storage fell during the past week. An oversupplied naphtha market in the last month has weighed on prices and inhibited shipments to northwest Europe. No tankers came from key supply areas north Africa and Russia.

Gasoil inventories fell. German demand rose, prompting a week-on-week increase in middle distillate barge traffic on the Rhine.

Jet fuel stocks in ARA fell back slightly from the two-year highs recorded during the last two weeks. High inventories in northwest Europe prompted several jet fuel tankers from the Mideast Gulf to divert to the US and Africa, weighing on shipments to the ARA area. Demand from along the Rhine continued to rise as consumption increased in line with seasonal expectations.

Reporter: Thomas Warner