ARA fuel oil stocks down 19%

The ARA’s independently held fuel oil stocks have dropped 19% in March till date, according to Insights Global data.

Changes in monthly average ARA stocks from February to March thus far:

• Fuel oil stocks down 1.26 million bbls to 5.21 million bbls
• Gasoil stocks down 150,000 bbls to 16.12 million bbls

The region has imported around 148,000 b/d of fuel oil so far in March, down from 192,000 b/d imported in February, according to cargo tracker Vortexa.

A large share of supplies has arrived from Denmark (20%), Sweden (16%) and Libya (15%).

The ARA has exported 161,000 b/d of fuel oil in March so far, down from the 204,000 b/d shipped in February. A majority of the cargoes have departed for Singapore (30%), Bahamas (17%) and Panama (12%).

The region’s independent gasoil inventories - which include diesel and heating oil – have dipped 1% in March so far, compared to February.

The ARA imported 284,000 b/d of gasoil in March so far, down from the 304,000 b/d imported in February, according to Vortexa data. The US has sent around 31% of the cargoes, while Kuwait (24%) and Saudi Arabia (12%) have also contributed supplies.

Fuel availability has improved in the ARA bunkering hub, a trader told ENGINE. One supplier said it can deliver all fuel grades within a day, but it recommends that buyers enquire about stems as early as possible.

By Nachiket Tekawade

Please get in touch with comments or additional info to news@engine.online