ARA fuel oil stocks fall 7% in February so far
The ARA’s independently held fuel oil stocks have slipped 7% in February thus far compared to January, according to Insights Global data.
Changes in monthly average ARA stocks from January to February (so far):
- Fuel oil stocks down 460,000 bbls to 6.49 million bbls
- Gasoil stocks up 790,000 bbls to 16.08 million bbls
The region has imported 96,000 b/d of fuel oil in February so far, falling sharply from the 215,000 b/d imported in January, according to cargo tracker Vortexa.
Most supplies this month have arrived from Poland (45%) and Germany (35%).
The ARA exported 288,000 b/d of fuel oil in February, considerably higher than the 160,000 b/d shipped in January. A majority of the shipments left for Italy (67%), with Denmark and Estonia taking around 8% of the cargoes each.
The region’s independent gasoil inventories - which include diesel and heating oil – increased 5% in February, compared to January, according to the Insights Global data.
The ARA imported 154,000 b/d of gasoil in February, lower than the 206,000 b/d imported in January, according to Vortexa data. The U.S. (39%) and Denmark (31%) have been the biggest contributors.
Securing immediate supplies of VLSFO and LSMGO bunkers is challenging at the Dutch bunkering hub, as suppliers are recommending lead times of around 5-7 days for both grades, a trader said. HSFO supplies are available more readily with a notice of around 2-4 days.
By Nachiket Tekawade
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