ARA fuel oil stocks dip 1%
The ARA’s independently held fuel oil stocks have fallen by 1% in January to date, according to Insights Global data.
Changes in monthly average ARA stocks from December to January (so far):
- Fuel oil stocks down 90,000 bbls to 6.76 million bbls
- Gasoil stocks up 70,000 bbls to 14.91 million bbls
Fuel oil stocks have shown little change from December into the first week of January.
The region has imported 181,000 b/d of fuel oil in January so far, slightly lower than the 188,000 b/d imported in December, according to cargo tracker Vortexa.
Brazil (45%), Poland (22%) and France (15%) have been the top suppliers.
The ARA has exported 156,000 b/d of fuel oil in January, up from the 140,000 b/d shipped in December.
Most cargoes have departed for Singapore (56%) and Spain (35%).
The region’s independent gasoil inventories - which include diesel and heating oil – have gained just 70,000 bbl so far this month compared to December, according to the Insights Global data.
The ARA has imported 369,000 b/d of gasoil in January, up from the 244,000 b/d imported in December, according to Vortexa data. Majority of the shipments have arrived from India (63%), while the U.S. (13%) and France (10%) have also contributed some supplies.
VLSFO supplies in the ARA are tight for prompt delivery dates, with suppliers requesting around eight days of lead time for supplies, while LSMGO and HSFO supplies are available more promptly, with around 2-4 days of notice, a trader told ENGINE.
By Nachiket Tekawade
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